Millennium Management LLC Lowers Stake in GFL Environmental Inc. $GFL

Key Points

• Millennium Management LLC reduced its stake in GFL Environmental Inc. by 68.3% during Q1, now owning approximately 0.14% of the company worth about $27.51 million.
• Several other institutional investors have increased their positions in GFL recently, with some reporting significant percentage increases in share ownership.
• Analyst ratings on GFL Environmental are largely positive, with a consensus rating of "Buy" and a target price averaging around $57.86, slight increases noted from firms such as Scotiabank and Citigroup.

Millennium Management LLC cut its holdings in GFL Environmental Inc. (NYSE:GFL - Free Report) by 68.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 569,343 shares of the company's stock after selling 1,224,789 shares during the quarter. Millennium Management LLC owned 0.14% of GFL Environmental worth $27,505,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Bessemer Group Inc. bought a new position in shares of GFL Environmental during the 1st quarter worth about $28,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of GFL Environmental during the 1st quarter worth about $385,000. Vanguard Group Inc. raised its holdings in shares of GFL Environmental by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 8,843,436 shares of the company's stock worth $427,166,000 after acquiring an additional 146,256 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of GFL Environmental by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 192,306 shares of the company's stock worth $9,290,000 after acquiring an additional 4,981 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of GFL Environmental by 43.1% in the 1st quarter. Cetera Investment Advisers now owns 17,516 shares of the company's stock worth $846,000 after acquiring an additional 5,278 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company's stock.

GFL Environmental Trading Up 1.0%

NYSE GFL traded up $0.48 during trading on Wednesday, hitting $46.87. The company had a trading volume of 214,439 shares, compared to its average volume of 1,598,490. 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 one year low of $38.78 and a one year high of $52.00. The company has a market cap of $17.03 billion, a price-to-earnings ratio of 7.39 and a beta of 1.11. The company's fifty day moving average is $48.85 and its 200-day moving average is $48.66.

GFL Environmental (NYSE:GFL - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, meeting analysts' consensus estimates of $0.19. The company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.68 billion. GFL Environmental had a return on equity of 3.71% and a net margin of 48.53%.The firm's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS. GFL Environmental has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Announces Dividend

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

Analyst Ratings Changes

GFL has been the subject of a number of recent analyst reports. Truist Financial upped their price objective 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. JPMorgan Chase & Co. initiated coverage on shares of GFL Environmental in a research note on Friday, May 23rd. They set a "neutral" rating and a $54.00 price target for the company. Royal Bank Of Canada upped their price target on GFL Environmental from $56.00 to $59.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. National Bank Financial raised GFL Environmental to a "strong-buy" rating in a research report on Monday, May 26th. Finally, Citigroup upped their price target on GFL Environmental from $58.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $58.29.

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.