GFL Environmental Inc. $GFL Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. sold 133,702 shares of GFL Environmental, reducing its stake by 31.6%, and now holds 289,201 shares valued at approximately $13.97 million.
• Several institutional investors, including Stifel Financial Corp and HSBC, have recently increased their positions in GFL Environmental, highlighting a strong interest from the investment community as 64.7% of the company's stock is held by institutional investors.
• GFL Environmental's latest earnings report showed earnings per share (EPS) of $0.19, meeting analysts' expectations, though revenue of $1.23 billion fell short of projections.

Raymond James Financial Inc. trimmed its position in GFL Environmental Inc. (NYSE:GFL - Free Report) by 31.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 289,201 shares of the company's stock after selling 133,702 shares during the quarter. Raymond James Financial Inc. owned about 0.07% of GFL Environmental worth $13,971,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. raised its stake in shares of GFL Environmental by 87.2% in the first quarter. American Century Companies Inc. now owns 4,515,302 shares of the company's stock worth $218,134,000 after purchasing an additional 2,102,663 shares during the last quarter. Element Capital Management LLC acquired a new stake in GFL Environmental during the first quarter worth about $432,000. Caitong International Asset Management Co. Ltd acquired a new stake in GFL Environmental during the first quarter worth about $59,000. Gulf International Bank UK Ltd grew its holdings in GFL Environmental by 2,103.8% during the first quarter. Gulf International Bank UK Ltd now owns 12,826 shares of the company's stock worth $620,000 after acquiring an additional 12,244 shares during the period. Finally, Burkehill Global Management LP acquired a new stake in GFL Environmental during the first quarter worth about $9,662,000. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

GFL Environmental Price Performance

GFL Environmental stock traded up $0.75 during trading on Monday, reaching $50.07. The company had a trading volume of 716,384 shares, compared to its average volume of 1,113,655. The firm's 50-day simple moving average is $49.15 and its 200 day simple moving average is $48.48. GFL Environmental Inc. has a 1-year low of $38.78 and a 1-year high of $52.00. The firm has a market capitalization of $18.19 billion, a PE ratio of 7.88 and a beta of 1.11. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.67.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.19 earnings per share (EPS) 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 firm had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the company earned $0.29 EPS. The firm's revenue for the quarter was up 5.9% compared to the same quarter last year. GFL Environmental has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on GFL shares. Royal Bank Of Canada raised their target price on GFL Environmental from $56.00 to $59.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Truist Financial raised their target price on GFL Environmental from $58.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, August 1st. JPMorgan Chase & Co. started coverage on GFL Environmental in a report on Friday, May 23rd. They set a "neutral" rating and a $54.00 target price on the stock. Scotiabank raised their target price on GFL Environmental from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a report on Friday, August 1st. Finally, Seaport Res Ptn raised GFL Environmental to a "strong-buy" rating in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target 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.