Korea Investment CORP Cuts Position in GFL Environmental Inc. $GFL

Key Points

• Korea Investment CORP reduced its stake in GFL Environmental Inc. by 48.5%, now holding $2.98 million worth of shares after selling 58,100 shares in the first quarter.
• GFL Environmental reported a net margin of 48.53% and a 5.9% revenue increase year-over-year, with EPS of $0.19 aligning with consensus estimates.
• Analysts have a consensus rating of "Buy" on GFL shares, with price targets increased by institutions, now averaging $57.86.

Korea Investment CORP decreased its holdings in GFL Environmental Inc. (NYSE:GFL - Free Report) by 48.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,599 shares of the company's stock after selling 58,100 shares during the quarter. Korea Investment CORP's holdings in GFL Environmental were worth $2,975,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Millstone Evans Group LLC grew its holdings in GFL Environmental by 147.8% in the first quarter. Millstone Evans Group LLC now owns 560 shares of the company's stock valued at $27,000 after purchasing an additional 334 shares during the last quarter. Bessemer Group Inc. acquired a new stake in GFL Environmental in the first quarter valued at $28,000. LRI Investments LLC acquired a new stake in GFL Environmental in the first quarter valued at $34,000. Natixis acquired a new stake in GFL Environmental in the fourth quarter valued at $49,000. Finally, Harbor Investment Advisory LLC acquired a new stake in GFL Environmental in the first quarter valued at $53,000. Institutional investors and hedge funds own 64.70% of the company's stock.

GFL Environmental Trading Up 1.5%

NYSE:GFL traded up $0.75 during mid-day trading on Friday, reaching $50.07. The company's stock had a trading volume of 716,384 shares, compared to its average volume of 1,143,291. The company's fifty day simple moving average is $49.15 and its two-hundred day simple moving average is $48.44. 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 Inc. has a twelve month low of $38.78 and a twelve month high of $52.00. The stock has a market cap of $18.19 billion, a P/E ratio of 7.88 and a beta of 1.00.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.19 earnings per share (EPS) 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 firm 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 EPS. The firm's quarterly revenue was up 5.9% on a year-over-year basis. GFL Environmental has set its FY 2025 guidance at EPS. On average, equities analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GFL. Royal Bank Of Canada upped their target price on GFL Environmental from $56.00 to $59.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Scotiabank increased their price objective on GFL Environmental from $56.00 to $60.00 and gave the company a "sector outperform" rating in a research note on Friday, August 1st. National Bank Financial raised GFL Environmental to a "strong-buy" rating in a research note on Monday, May 26th. Raymond James Financial reaffirmed an "outperform" rating and set a $57.00 price objective (up previously from $56.00) on shares of GFL Environmental in a research note on Friday, May 2nd. Finally, Citigroup increased their price objective on GFL Environmental from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price 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.