Northern Trust Corp Has $37.15 Million Stake in GFL Environmental Inc. $GFL

Key Points

• Northern Trust Corp increased its holdings in GFL Environmental by 48% during the first quarter, owning approximately $37.15 million worth of shares after purchasing an additional 249,233 shares.
• Multiple research firms have raised their price targets for GFL Environmental, with Scotiabank and Truist Financial setting new targets of $60, while the average target price stands at $57.86.
• GFL Environmental's recent quarterly earnings report met expectations with an EPS of $0.19, although the firm's revenue fell short of consensus estimates at $1.23 billion.

Northern Trust Corp grew its holdings in GFL Environmental Inc. (NYSE:GFL - Free Report) by 48.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 768,936 shares of the company's stock after acquiring an additional 249,233 shares during the quarter. Northern Trust Corp owned 0.20% of GFL Environmental worth $37,147,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GFL. Stifel Financial Corp grew its holdings in shares of GFL Environmental by 4.7% during the fourth quarter. Stifel Financial Corp now owns 90,730 shares of the company's stock worth $4,041,000 after buying an additional 4,086 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of GFL Environmental by 31.0% during the fourth quarter. Hsbc Holdings PLC now owns 57,407 shares of the company's stock worth $2,556,000 after buying an additional 13,575 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of GFL Environmental during the fourth quarter worth about $5,840,000. Susquehanna Fundamental Investments LLC bought a new position in shares of GFL Environmental during the fourth quarter worth about $1,309,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of GFL Environmental by 7.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 664,887 shares of the company's stock worth $29,679,000 after buying an additional 43,500 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GFL has been the subject of a number of research reports. JPMorgan Chase & Co. initiated coverage on GFL Environmental in a report on Friday, May 23rd. They set a "neutral" rating and a $54.00 price objective for the company. Royal Bank Of Canada increased their price objective on GFL Environmental from $56.00 to $59.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Seaport Res Ptn upgraded GFL Environmental to a "strong-buy" rating in a report on Tuesday, May 6th. Citigroup increased their price objective on GFL Environmental from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Finally, Scotiabank increased their price target on GFL Environmental from $56.00 to $60.00 and gave the company a "sector outperform" rating in a research report on Friday, August 1st. Two investment 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. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $57.86.

GFL Environmental Stock Up 1.5%

NYSE GFL traded up $0.75 during trading hours on Monday, hitting $50.07. 716,384 shares of the company traded hands, compared to its average volume of 1,113,655. GFL Environmental Inc. has a twelve month low of $38.78 and a twelve month high of $52.00. The stock has a market capitalization of $18.19 billion, a price-to-earnings ratio of 7.88 and a beta of 1.11. The business's 50-day moving average is $49.15 and its 200-day moving average is $48.48. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.67.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.19 earnings per share (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 company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same period last year, the firm posted $0.29 earnings per share. The business's revenue was up 5.9% on a year-over-year basis. GFL Environmental has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 14th were given a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a dividend 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%.

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.