GFL Environmental Inc. (NYSE:GFL) is Ontario Teachers Pension Plan Board's Largest Position

Key Points

• Ontario Teachers Pension Plan Board reduced its stake in GFL Environmental by 25.2%, retaining 26,441,513 shares, which constitutes 18.8% of its total holdings, making it the board's largest position.
• For the most recent quarter, GFL Environmental reported an EPS of $0.19, matching analysts' expectations, and a revenue of $1.23 billion, which was below the forecast of $1.68 billion.
• Several brokerages including Royal Bank Of Canada and Scotiabank updated their price targets on GFL Environmental, with an average target of $57.86 and a general rating of "Buy" across multiple analysts.

Ontario Teachers Pension Plan Board lowered its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 25.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,441,513 shares of the company's stock after selling 8,915,854 shares during the quarter. GFL Environmental comprises 18.8% of Ontario Teachers Pension Plan Board's holdings, making the stock its largest holding. Ontario Teachers Pension Plan Board owned 6.72% of GFL Environmental worth $1,277,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Millstone Evans Group LLC boosted its position in shares of GFL Environmental by 147.8% in the 1st quarter. Millstone Evans Group LLC now owns 560 shares of the company's stock worth $27,000 after purchasing an additional 334 shares in the last quarter. Bessemer Group Inc. acquired a new stake in GFL Environmental in the first quarter worth about $28,000. LRI Investments LLC acquired a new stake in GFL Environmental in the first quarter worth about $34,000. Natixis purchased a new stake in shares of GFL Environmental during the fourth quarter worth about $49,000. Finally, Harbor Investment Advisory LLC acquired a new position in shares of GFL Environmental during the first quarter valued at about $53,000. Hedge funds and other institutional investors own 64.70% of the company's stock.

GFL Environmental Stock Up 0.7%

NYSE GFL opened at $50.54 on Thursday. The business's fifty day simple moving average is $49.03 and its 200-day simple moving average is $47.69. The company has a quick ratio of 0.82, a current ratio of 0.67 and a debt-to-equity ratio of 0.89. The firm has a market cap of $18.53 billion, a PE ratio of 7.96 and a beta of 1.00. GFL Environmental Inc. has a 52 week low of $38.29 and a 52 week high of $52.00.

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 for the quarter, hitting analysts' consensus estimates of $0.19. GFL Environmental had a return on equity of 3.71% and a net margin of 48.53%. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the prior year, the business posted $0.29 EPS. The company's revenue was up 5.9% compared to the same quarter last year. As a group, equities analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 14th were issued a $0.0154 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. GFL Environmental's dividend payout ratio is presently 0.94%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GFL. JPMorgan Chase & Co. started coverage on GFL Environmental in a research note on Friday, May 23rd. They issued a "neutral" rating and a $54.00 price objective for the company. Royal Bank Of Canada lifted their price objective on shares of GFL Environmental from $56.00 to $59.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Scotiabank increased their price objective on shares of GFL Environmental from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a research note on Friday, August 1st. Truist Financial raised their target price on shares of GFL Environmental from $58.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, National Bank Financial raised shares of GFL Environmental to a "strong-buy" rating in a report on Monday, May 26th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average 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.

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