BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Stake in GFL Environmental Inc. $GFL

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in GFL Environmental by 25.6%, owning 135,534 shares valued at $6.55 million.
• GFL Environmental reported a quarterly EPS of $0.19, matching analysts' expectations, with revenues of $1.23 billion, below the estimated $1.68 billion.
• Wall Street analysts are optimistic about GFL, with several increasing their price targets, and the stock currently has a consensus rating of "Buy" with a target price of $57.86.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in GFL Environmental Inc. (NYSE:GFL - Free Report) by 25.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 135,534 shares of the company's stock after acquiring an additional 27,638 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in GFL Environmental were worth $6,548,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. 1832 Asset Management L.P. bought a new stake in GFL Environmental in the first quarter worth $27,150,000. Partners Capital Investment Group LLP bought a new stake in GFL Environmental in the first quarter worth $392,000. GM Advisory Group LLC bought a new stake in GFL Environmental in the first quarter worth $650,000. Maven Securities LTD bought a new stake in GFL Environmental in the first quarter worth $483,000. Finally, Northern Trust Corp boosted its holdings in GFL Environmental by 48.0% in the first quarter. Northern Trust Corp now owns 768,936 shares of the company's stock worth $37,147,000 after acquiring an additional 249,233 shares in the last quarter. 64.70% of the stock is owned by institutional investors.

GFL Environmental Stock Performance

GFL Environmental stock traded down $0.24 during mid-day trading on Wednesday, reaching $49.67. 661,568 shares of the stock traded hands, compared to its average volume of 1,304,656. The stock has a market capitalization of $18.05 billion, a PE ratio of 7.82 and a beta of 1.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.67 and a quick ratio of 0.67. GFL Environmental Inc. has a 12-month low of $38.78 and a 12-month high of $52.00. The business's 50-day moving average is $49.15 and its 200-day moving average is $48.40.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, meeting analysts' consensus estimates of $0.19. The company 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%.GFL Environmental's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 earnings per share. GFL Environmental has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 14th were given a $0.0154 dividend. The ex-dividend date was Monday, July 14th. This represents a $0.06 dividend on an annualized basis and a yield of 0.1%. GFL Environmental's dividend payout ratio is presently 0.94%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GFL. National Bank Financial raised GFL Environmental to a "strong-buy" rating in a report on Monday, May 26th. Scotiabank upped their price target on GFL Environmental from $56.00 to $60.00 and gave the company a "sector outperform" rating in a report on Friday, August 1st. Royal Bank Of Canada upped their price target on GFL Environmental from $56.00 to $59.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Citigroup upped their price target on GFL Environmental from $56.00 to $58.00 and gave the company a "buy" rating in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. began coverage on GFL Environmental in a report on Friday, May 23rd. They set a "neutral" rating and a $54.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target 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.