Caisse DE Depot ET Placement DU Quebec Has $49.19 Million Stock Holdings in GFL Environmental Inc. $GFL

Key Points

• The Caisse DE Depot ET Placement DU Quebec increased its stake in GFL Environmental Inc. by 24.0%, acquiring an additional 197,242 shares in the first quarter, bringing its total shares to 1,018,512.
• GFL Environmental has reported a quarterly earnings per share (EPS) of $0.19, matching analysts' expectations, and had a revenue of $1.23 billion for the quarter.
• Multiple brokerages have upgraded their ratings and target prices for GFL Environmental, with Citigroup increasing its target from $56.00 to $58.00, and Scotiabank from $56.00 to $60.00.

Caisse DE Depot ET Placement DU Quebec grew its holdings in GFL Environmental Inc. (NYSE:GFL - Free Report) by 24.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,018,512 shares of the company's stock after acquiring an additional 197,242 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.26% of GFL Environmental worth $49,190,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fred Alger Management LLC grew its stake in GFL Environmental by 1.9% during the 4th quarter. Fred Alger Management LLC now owns 10,411,148 shares of the company's stock worth $463,713,000 after buying an additional 190,018 shares during the last quarter. Vanguard Group Inc. lifted its position in GFL Environmental by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 8,843,436 shares of the company's stock worth $427,166,000 after acquiring an additional 146,256 shares during the period. American Century Companies Inc. lifted its holdings in shares of GFL Environmental by 87.2% in the 1st quarter. American Century Companies Inc. now owns 4,515,302 shares of the company's stock valued at $218,134,000 after buying an additional 2,102,663 shares during the period. Soros Fund Management LLC lifted its holdings in shares of GFL Environmental by 1.5% in the 4th quarter. Soros Fund Management LLC now owns 3,203,904 shares of the company's stock valued at $142,702,000 after buying an additional 47,577 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of GFL Environmental by 19.0% in the 1st quarter. TD Asset Management Inc now owns 1,330,765 shares of the company's stock valued at $64,271,000 after buying an additional 212,844 shares during the period. Hedge funds and other institutional investors own 64.70% of the company's stock.

GFL Environmental Stock Performance

Shares of NYSE:GFL traded up $0.75 during trading on Friday, hitting $50.07. 716,384 shares of the company traded hands, compared to its average volume of 1,143,291. GFL Environmental Inc. has a one year low of $38.78 and a one year high of $52.00. The stock has a market capitalization of $18.19 billion, a price-to-earnings ratio of 7.88 and a beta of 1.00. The business's fifty day moving average is $49.15 and its 200-day moving average is $48.44. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.89.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.19. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.68 billion. GFL Environmental had a return on equity of 3.71% and a net margin of 48.53%.The business's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 EPS. GFL Environmental has set its FY 2025 guidance at EPS. As a group, equities analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Monday, July 14th. GFL Environmental's payout ratio is 0.94%.

Analysts Set New Price Targets

GFL has been the subject of several research reports. Seaport Res Ptn raised GFL Environmental to a "strong-buy" rating in a report on Tuesday, May 6th. National Bank Financial raised GFL Environmental to a "strong-buy" rating in a research report on Monday, May 26th. JPMorgan Chase & Co. assumed coverage on GFL Environmental in a research report on Friday, May 23rd. They issued a "neutral" rating and a $54.00 price objective for the company. Raymond James Financial reiterated an "outperform" rating and issued a $57.00 target price (up previously from $56.00) on shares of GFL Environmental in a report on Friday, May 2nd. Finally, Scotiabank boosted their price objective on GFL Environmental from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, GFL Environmental presently has a consensus rating of "Buy" and a consensus target price of $57.86.

GFL Environmental Profile

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.