GFL Environmental Inc. $GFL Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its position in GFL Environmental Inc. by 23.8%, owning 535,174 shares valued at approximately $25.85 million at the end of the first quarter.
• The company reported earnings of $0.19 per share, meeting analyst expectations, but its revenue fell short of estimates at $1.23 billion.
• Several research firms raised their price targets for GFL Environmental, with Royal Bank of Canada increasing its target from $56.00 to $59.00 and maintaining an "outperform" rating.

Russell Investments Group Ltd. cut its position in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 23.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 535,174 shares of the company's stock after selling 167,433 shares during the quarter. Russell Investments Group Ltd. owned 0.14% of GFL Environmental worth $25,854,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Burkehill Global Management LP acquired a new position in shares of GFL Environmental during the 1st quarter worth approximately $9,662,000. Nuveen LLC acquired a new stake in shares of GFL Environmental during the first quarter valued at $19,886,000. Aigen Investment Management LP acquired a new stake in shares of GFL Environmental during the first quarter valued at $578,000. Bornite Capital Management LP purchased a new stake in GFL Environmental during the 1st quarter worth about $26,073,000. Finally, Invesco Ltd. raised its stake in GFL Environmental by 6.0% in the 1st quarter. Invesco Ltd. now owns 70,871 shares of the company's stock valued at $3,424,000 after purchasing an additional 3,996 shares during the last quarter. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on GFL. Scotiabank lifted their price target on shares of GFL Environmental from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a report on Friday, August 1st. Royal Bank Of Canada raised their target price on shares of GFL Environmental from $56.00 to $59.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. initiated coverage on GFL Environmental in a report on Friday, May 23rd. They issued a "neutral" rating and a $54.00 price target for the company. National Bank Financial raised GFL Environmental to a "strong-buy" rating in a research note on Monday, May 26th. Finally, Citigroup lifted their price objective on GFL Environmental from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $57.86.

GFL Environmental Trading Up 0.8%

Shares of GFL stock traded up $0.3870 on Thursday, reaching $50.8670. 1,571,681 shares of the stock were exchanged, compared to its average volume of 1,203,505. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.89. The stock has a market cap of $18.48 billion, a P/E ratio of 8.01 and a beta of 1.00. The firm has a 50 day moving average of $49.13 and a two-hundred day moving average of $48.27. GFL Environmental Inc. has a 1-year low of $38.78 and a 1-year 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 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.19. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.68 billion. GFL Environmental had a return on equity of 3.71% and a net margin of 48.53%.The firm's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 earnings per share. GFL Environmental has set its FY 2025 guidance at EPS. On average, research analysts anticipate 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. Investors of record on Monday, July 14th were issued a $0.0154 dividend. This represents a $0.06 annualized dividend and a yield of 0.1%. GFL Environmental's payout ratio is 0.94%.

About GFL Environmental

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.