Canada Pension Plan Investment Board Has $52.62 Million Holdings in GFL Environmental Inc. $GFL

Key Points

• The Canada Pension Plan Investment Board increased its stake in GFL Environmental Inc. by 101.7%, owning over 1 million shares worth approximately $52.6 million as of its latest SEC filing.
• GFL Environmental recently reported a net margin of 48.53% and a 5.9% increase in revenue year-over-year, despite meeting EPS expectations at $0.19 for the quarter.
• Several institutional investors have also shown confidence in GFL, with American Century Companies increasing its stake by 87.2% and multiple firms issuing positive ratings and price targets for the stock.

Canada Pension Plan Investment Board raised its stake in GFL Environmental Inc. (NYSE:GFL - Free Report) by 101.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,089,215 shares of the company's stock after acquiring an additional 549,309 shares during the period. Canada Pension Plan Investment Board owned approximately 0.28% of GFL Environmental worth $52,621,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GFL. American Century Companies Inc. increased its holdings in GFL Environmental by 87.2% during the first 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 last quarter. Robeco Schweiz AG bought a new stake in GFL Environmental during the first quarter worth approximately $32,724,000. 1832 Asset Management L.P. bought a new position in GFL Environmental during the first quarter valued at $27,150,000. Bornite Capital Management LP bought a new position in shares of GFL Environmental during the first quarter valued at approximately $26,073,000. Finally, Nuveen LLC bought a new position in GFL Environmental in the 1st quarter worth about $19,886,000. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Stock Down 1.0%

NYSE:GFL traded down $0.49 on Thursday, reaching $48.52. The stock had a trading volume of 287,753 shares, compared to its average volume of 1,600,951. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. The stock has a market cap of $17.63 billion, a P/E ratio of 7.64 and a beta of 1.11. GFL Environmental Inc. has a 12-month low of $38.78 and a 12-month high of $52.00. The company has a 50-day moving average of $49.13 and a 200 day moving average of $48.52.

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 for the quarter, meeting analysts' consensus estimates of $0.19. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the previous year, the business earned $0.29 earnings per share. The company's revenue was up 5.9% on a year-over-year basis. GFL Environmental has set its FY 2025 guidance at EPS. On average, research analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 14th were issued a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Monday, July 14th. GFL Environmental's dividend payout ratio is presently 0.94%.

Analysts Set New Price Targets

GFL has been the topic of a number of recent analyst reports. Scotiabank upped their price target on GFL Environmental from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 1st. Royal Bank Of Canada raised their price target on shares of GFL Environmental from $56.00 to $59.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Truist Financial increased their price objective on shares of GFL Environmental from $58.00 to $60.00 and gave the company a "buy" rating in a report on Friday, August 1st. Citigroup lifted their target price on shares of GFL Environmental from $56.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Finally, National Bank Financial upgraded GFL Environmental to a "strong-buy" rating in a report on Monday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $57.86.

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.