Millennium Management LLC Has $27.51 Million Stock Position 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 lessened its position in GFL Environmental Inc. (NYSE:GFL - Free Report) by 68.3% in the first quarter, according to 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 period. Millennium Management LLC owned approximately 0.14% of GFL Environmental worth $27,505,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of GFL. Millstone Evans Group LLC raised its position in shares of GFL Environmental by 147.8% during 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 period. OneDigital Investment Advisors LLC raised its position in shares of GFL Environmental by 2.6% during the first quarter. OneDigital Investment Advisors LLC now owns 17,264 shares of the company's stock worth $834,000 after purchasing an additional 436 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of GFL Environmental by 1.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,309 shares of the company's stock worth $2,478,000 after purchasing an additional 574 shares during the period. Bessemer Group Inc. acquired a new position in shares of GFL Environmental during the first quarter worth approximately $28,000. Finally, LRI Investments LLC acquired a new position in shares of GFL Environmental during the first quarter worth approximately $34,000. Institutional investors own 64.70% of the company's stock.

Analyst Upgrades and Downgrades

GFL has been the topic of a number of research reports. Scotiabank upped their target price on GFL Environmental from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 1st. Citigroup lifted their target price on GFL Environmental from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, August 4th. National Bank Financial raised GFL Environmental to a "strong-buy" rating in a research report on Monday, May 26th. JPMorgan Chase & Co. assumed coverage on GFL Environmental in a research report on Friday, May 23rd. They issued a "neutral" rating and a $54.00 price target for the company. Finally, Truist Financial increased their price target on GFL Environmental from $58.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, August 1st. 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. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $57.86.

GFL Environmental Trading Up 1.7%

NYSE GFL opened at $48.16 on Friday. The firm has a market capitalization of $17.50 billion, a P/E ratio of 7.58 and a beta of 1.11. The business has a fifty day simple moving average of $48.93 and a 200 day simple moving average of $48.58. GFL Environmental Inc. has a 12 month low of $38.78 and a 12 month high of $52.00. 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 (NYSE:GFL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, meeting 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 analyst estimates of $1.68 billion. During the same period in the prior year, the firm posted $0.29 EPS. 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. On average, analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

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

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.

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