Hsbc Holdings PLC Trims Holdings in GFL Environmental Inc. $GFL

Key Points

• Hsbc Holdings PLC has reduced its holdings in GFL Environmental Inc. by 30.9% in the first quarter, now owning 39,696 shares worth approximately $1.9 million.
• GFL Environmental reported a quarterly EPS of $0.19, meeting analyst expectations, but fell short on revenue with $1.23 billion against estimates of $1.68 billion.
• Analysts have a consensus "Buy" rating on GFL Environmental, with target prices ranging from $54.00 to $60.00, reflecting a generally positive outlook for the stock.

Hsbc Holdings PLC trimmed its position in GFL Environmental Inc. (NYSE:GFL - Free Report) by 30.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,696 shares of the company's stock after selling 17,711 shares during the quarter. Hsbc Holdings PLC's holdings in GFL Environmental were worth $1,917,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Millstone Evans Group LLC raised its stake in shares of GFL Environmental by 147.8% in the first quarter. Millstone Evans Group LLC now owns 560 shares of the company's stock worth $27,000 after purchasing an additional 334 shares during the last quarter. Bessemer Group Inc. acquired a new stake in GFL Environmental during the first quarter worth about $28,000. LRI Investments LLC acquired a new stake in GFL Environmental during the first quarter worth about $34,000. Harbor Investment Advisory LLC acquired a new stake in GFL Environmental during the first quarter worth about $53,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in GFL Environmental during the first quarter worth about $59,000. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

GFL Environmental Stock Down 0.5%

Shares of GFL opened at $49.67 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. GFL Environmental Inc. has a 12 month low of $38.78 and a 12 month high of $52.00. The stock's 50 day moving average is $49.15 and its two-hundred day moving average is $48.40. The firm has a market cap of $18.05 billion, a P/E ratio of 7.82 and a beta of 1.00.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. GFL Environmental had a return on equity of 3.71% and a net margin of 48.53%.The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company earned $0.29 earnings per share. GFL Environmental's quarterly revenue was up 5.9% compared to the same quarter last year. GFL Environmental has set its FY 2025 guidance at EPS. Analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

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 Analyst Weigh In

Several analysts recently commented on GFL shares. 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. 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. National Bank Financial raised GFL Environmental to a "strong-buy" rating in a report on Monday, May 26th. Citigroup raised their target price on GFL Environmental from $56.00 to $58.00 and gave the stock 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 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company 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.

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