Royal Bank of Canada Purchases 334,218 Shares of GFL Environmental Inc. $GFL

Key Points

• Royal Bank of Canada increased its stake in GFL Environmental by 4.4%, holding 7,883,481 shares valued at approximately $380.85 million.
• Analysts have raised target prices for GFL Environmental, with Citigroup set at $58.00 and Scotiabank at $60.00, indicating a generally positive outlook with an average target of $57.86.
• GFL Environmental declared a quarterly dividend of $0.0154 per share, resulting in a dividend yield of 0.1%.

Royal Bank of Canada lifted its holdings in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,883,481 shares of the company's stock after acquiring an additional 334,218 shares during the quarter. Royal Bank of Canada owned 2.00% of GFL Environmental worth $380,850,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional 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 1st quarter. Millstone Evans Group LLC now owns 560 shares of the company's stock worth $27,000 after buying an additional 334 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of GFL Environmental during the first quarter worth $28,000. LRI Investments LLC acquired a new position in GFL Environmental during the first quarter worth $34,000. Harbor Investment Advisory LLC acquired a new stake in shares of GFL Environmental in the first quarter valued at about $53,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of GFL Environmental in the first quarter valued at about $59,000. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Stock Performance

Shares of GFL Environmental stock traded down $0.32 during mid-day trading on Friday, hitting $47.92. 1,860,386 shares of the stock were exchanged, compared to its average volume of 1,608,549. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $17.41 billion, a P/E ratio of 7.55 and a beta of 1.11. The company has a 50-day simple moving average of $49.08 and a 200 day simple moving average of $48.53. GFL Environmental Inc. has a 12 month low of $38.78 and a 12 month high of $52.00.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, hitting analysts' consensus estimates of $0.19. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. The company had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the previous year, the firm posted $0.29 EPS. GFL Environmental'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 fiscal 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 issued 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 payout ratio is presently 0.94%.

Wall Street Analyst Weigh In

GFL has been the topic of a number of recent research reports. Citigroup lifted their price objective on GFL Environmental from $56.00 to $58.00 and gave the company a "buy" rating in a report on Monday, August 4th. National Bank Financial upgraded GFL Environmental to a "strong-buy" rating in a report on Monday, May 26th. Royal Bank Of Canada raised their target price on shares of GFL Environmental from $56.00 to $59.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. assumed coverage on shares of GFL Environmental in a research report on Friday, May 23rd. They set a "neutral" rating and a $54.00 price objective for the company. Finally, Truist Financial lifted their price target on shares of GFL Environmental from $58.00 to $60.00 and gave the company a "buy" 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 assigned a Hold rating to the company. According to MarketBeat.com, GFL Environmental has a consensus rating of "Buy" and a consensus price target 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.