American Century Companies Inc. Purchases 2,102,663 Shares of GFL Environmental Inc. $GFL

Key Points

• American Century Companies Inc. increased its stake in GFL Environmental Inc. by 87.2% in the first quarter, owning approximately 1.15% of the company with a value of $218 million.
• GFL Environmental's latest earnings report revealed an EPS of $0.19 and a revenue of $1.23 billion, slightly missing the consensus estimate of $1.68 billion.
• Several analysts upgraded their ratings and price targets for GFL Environmental, with Scotiabank increasing the target from $56.00 to $60.00, and the consensus target price is currently $57.86.

American Century Companies Inc. increased its holdings in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 87.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,515,302 shares of the company's stock after purchasing an additional 2,102,663 shares during the quarter. American Century Companies Inc. owned 1.15% of GFL Environmental worth $218,134,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of GFL. Millstone Evans Group LLC increased its stake in GFL Environmental by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 560 shares of the company's stock worth $27,000 after purchasing an additional 334 shares in the last quarter. Bessemer Group Inc. bought a new stake in GFL Environmental during the 1st quarter worth approximately $28,000. LRI Investments LLC bought a new position in shares of GFL Environmental during the 1st quarter worth approximately $34,000. Natixis bought a new position in shares of GFL Environmental during the 4th quarter worth approximately $49,000. Finally, Harbor Investment Advisory LLC bought a new position in shares of GFL Environmental during the 1st quarter worth approximately $53,000. 64.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of GFL Environmental in a research note on Friday, May 23rd. They set a "neutral" rating and a $54.00 price target for the company. Raymond James Financial reaffirmed an "outperform" rating and set a $57.00 price target (up from $56.00) on shares of GFL Environmental in a research note on Friday, May 2nd. National Bank Financial raised shares of GFL Environmental to a "strong-buy" rating in a research note on Monday, May 26th. Citigroup raised their target price on shares of GFL Environmental from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Finally, Seaport Res Ptn raised shares of GFL Environmental to a "strong-buy" rating in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, GFL Environmental has a consensus rating of "Buy" and an average target price of $57.86.

GFL Environmental Stock Performance

Shares of GFL traded up $0.3290 during midday trading on Thursday, reaching $50.8090. 369,521 shares of the stock were exchanged, compared to its average volume of 1,636,014. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.89. The company has a market cap of $18.46 billion, a P/E ratio of 8.01 and a beta of 1.00. GFL Environmental Inc. has a twelve month low of $38.78 and a twelve month high of $52.00. The stock's 50 day simple moving average is $49.12 and its 200 day simple moving average is $48.22.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.68 billion. GFL Environmental had a return on equity of 3.71% and a net margin of 48.53%.The company's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 EPS. GFL Environmental has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 14th were paid a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.1%. GFL Environmental's payout ratio is 0.94%.

About GFL Environmental

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.