GFL Environmental Inc. $GFL Shares Sold by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB has reduced its stake in GFL Environmental Inc. by 2.7%, now holding approximately 4.88 million shares worth $243.89 million.
• Several institutional investors have increased their positions, with Millstone Evans Group LLC boosting its holdings by 147.8% during the 1st quarter of this year.
• Analysts have a consensus Buy rating for GFL Environmental, with target prices ranging from $57.00 to $63.00 among various financial institutions.

Nordea Investment Management AB decreased its holdings in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,881,766 shares of the company's stock after selling 136,033 shares during the quarter. Nordea Investment Management AB owned about 1.33% of GFL Environmental worth $243,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millstone Evans Group LLC lifted its holdings in shares of GFL Environmental by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 560 shares of the company's stock valued at $27,000 after acquiring an additional 334 shares in the last quarter. Bessemer Group Inc. acquired a new stake in shares of GFL Environmental in the 1st quarter valued at about $28,000. LRI Investments LLC acquired a new stake in shares of GFL Environmental in the 1st quarter valued at about $34,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of GFL Environmental in the 1st quarter valued at about $59,000. Finally, Fifth Third Bancorp raised its stake in shares of GFL Environmental by 81.9% in the 1st quarter. Fifth Third Bancorp now owns 1,643 shares of the company's stock valued at $79,000 after purchasing an additional 740 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial set a $57.00 target price on shares of GFL Environmental and gave the company an "outperform" rating in a research note on Monday, October 6th. Scotiabank set a $58.00 target price on shares of GFL Environmental in a research report on Friday, October 10th. Stifel Nicolaus began coverage on shares of GFL Environmental in a research report on Tuesday, September 30th. They issued a "buy" rating for the company. UBS Group decreased their target price on shares of GFL Environmental from $63.00 to $58.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Truist Financial upped their target price on shares of GFL Environmental from $58.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $58.63.

GFL Environmental Trading Up 1.5%

GFL Environmental stock opened at $45.23 on Friday. The firm has a 50 day simple moving average of $47.75 and a 200-day simple moving average of $48.47. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $16.43 billion, a PE ratio of 7.12 and a beta of 1.17. GFL Environmental Inc. has a 12-month low of $39.63 and a 12-month high of $52.00.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations 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 last year, the firm posted $0.29 earnings per share. GFL Environmental has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 15th will be issued a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Wednesday, October 15th. GFL Environmental's dividend payout ratio (DPR) is presently 0.94%.

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.

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