GFL Environmental Inc. $GFL Shares Purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

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 raised its holdings in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 25.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,534 shares of the company's stock after acquiring an additional 27,638 shares during the period. 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 large investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in shares of GFL Environmental by 87.2% during the first quarter. American Century Companies Inc. now owns 4,515,302 shares of the company's stock worth $218,134,000 after buying an additional 2,102,663 shares in the last quarter. Robeco Schweiz AG purchased a new position in GFL Environmental during the first quarter worth about $32,724,000. 1832 Asset Management L.P. acquired a new stake in shares of GFL Environmental during the first quarter worth about $27,150,000. Bornite Capital Management LP purchased a new position in shares of GFL Environmental in the first quarter valued at approximately $26,073,000. Finally, Nuveen LLC purchased a new position in shares of GFL Environmental in the first quarter valued at approximately $19,886,000. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Price Performance

Shares of NYSE GFL traded up $0.75 during trading on Friday, hitting $50.07. 716,384 shares of the company were exchanged, compared to its average volume of 1,143,291. The company has a market cap of $18.19 billion, a price-to-earnings ratio of 7.88 and a beta of 1.00. GFL Environmental Inc. has a 1 year low of $38.78 and a 1 year high of $52.00. The firm's fifty day moving average price is $49.15 and its 200 day moving average price is $48.46. 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 (NYSE:GFL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.68 billion. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. The business's revenue was up 5.9% on a year-over-year basis. 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 fiscal year.

GFL Environmental Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors 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 annualized dividend and a dividend yield of 0.1%. GFL Environmental's payout ratio is currently 0.94%.

Analyst Ratings Changes

Several brokerages recently weighed in on GFL. Raymond James Financial reaffirmed 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. Scotiabank lifted their target price on shares of GFL Environmental from $56.00 to $60.00 and gave the company a "sector outperform" rating in a report on Friday, August 1st. JPMorgan Chase & Co. initiated coverage on shares of GFL Environmental in a research note on Friday, May 23rd. They issued a "neutral" rating and a $54.00 price objective on the stock. National Bank Financial raised shares of GFL Environmental to a "strong-buy" rating in a research note on Monday, May 26th. Finally, Seaport Res Ptn raised shares of GFL Environmental to a "strong-buy" rating in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, GFL Environmental currently has an average rating of "Buy" and a consensus price target of $57.86.

GFL Environmental Company 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.