The Manufacturers Life Insurance Company Boosts Stock Position in GFL Environmental Inc. $GFL

Key Points

• The Manufacturers Life Insurance Company increased its stake in GFL Environmental Inc. by 2.6%, acquiring an additional 17,322 shares to own a total of 682,209 shares valued at approximately $33.1 million.
• GFL Environmental received upgraded ratings from multiple analysts, including a "strong-buy" from Seaport Res Ptn and a price target increase from Truist Financial from $58.00 to $60.00.
• The company recently declared a quarterly dividend of $0.0154 per share, reflecting a 0.1% yield and a payout ratio of 0.94%.

The Manufacturers Life Insurance Company lifted its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 682,209 shares of the company's stock after purchasing an additional 17,322 shares during the quarter. The Manufacturers Life Insurance Company owned 0.17% of GFL Environmental worth $33,133,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GFL. Canada Pension Plan Investment Board raised its position in GFL Environmental by 101.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,089,215 shares of the company's stock valued at $52,621,000 after purchasing an additional 549,309 shares during the last quarter. WPG Advisers LLC acquired a new stake in GFL Environmental during the first quarter worth approximately $105,000. Tema Etfs LLC bought a new stake in shares of GFL Environmental in the 1st quarter valued at $2,244,000. Heights Capital Management Inc. bought a new position in shares of GFL Environmental during the 1st quarter worth about $242,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of GFL Environmental by 24.0% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,018,512 shares of the company's stock valued at $49,190,000 after acquiring an additional 197,242 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Trading Down 0.7%

NYSE GFL traded down $0.32 on Friday, hitting $47.92. The company's stock had a trading volume of 1,860,387 shares, compared to its average volume of 1,609,011. The firm has a market cap of $17.41 billion, a P/E ratio of 7.55 and a beta of 1.11. GFL Environmental Inc. has a 52-week low of $38.78 and a 52-week high of $52.00. The company's 50-day simple moving average is $49.08 and its 200 day simple moving average is $48.53. 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 issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.68 billion. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. GFL Environmental's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. GFL Environmental has set its FY 2025 guidance at EPS. Research analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently declared 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 was Monday, July 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.1%. GFL Environmental's dividend payout ratio is presently 0.94%.

Analysts Set New Price Targets

GFL has been the subject of a number of analyst reports. Scotiabank lifted their price target on GFL Environmental from $56.00 to $60.00 and gave the company a "sector outperform" rating in a research note on Friday, August 1st. Truist Financial upped their price objective on GFL Environmental from $58.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Royal Bank Of Canada upped their price target 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. National Bank Financial upgraded GFL Environmental to a "strong-buy" rating in a research note on Monday, May 26th. Finally, JPMorgan Chase & Co. started coverage on GFL Environmental in a research note on Friday, May 23rd. They set a "neutral" rating and a $54.00 price objective for the company. Two 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, GFL Environmental has a consensus rating of "Buy" and an average target price of $57.86.

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.