Walleye Capital LLC Boosts Stock Position in GFL Environmental Inc. $GFL

Key Points

• Walleye Capital LLC increased its stake in GFL Environmental Inc. by 12.8%, acquiring an additional 11,561 shares, bringing its total holdings to 101,720 shares, valued at approximately $4.91 million.
• Analysts are optimistic about GFL Environmental, with price targets being raised; Royal Bank of Canada set a new target at $59.00 and Truist Financial at $60.00, indicating strong buy ratings across the board.
• The company recently announced a quarterly dividend of $0.0154 per share, reflecting an annualized yield of 0.1% and a dividend payout ratio of 0.94%.

Walleye Capital LLC raised its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 12.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 101,720 shares of the company's stock after purchasing an additional 11,561 shares during the period. Walleye Capital LLC's holdings in GFL Environmental were worth $4,914,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Millstone Evans Group LLC boosted 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 valued at $27,000 after buying an additional 334 shares during the last quarter. Bessemer Group Inc. purchased a new position in GFL Environmental during the 1st quarter worth $28,000. LRI Investments LLC purchased a new position in GFL Environmental during the 1st quarter worth $34,000. Harbor Investment Advisory LLC purchased a new position in GFL Environmental during the 1st quarter worth $53,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in GFL Environmental during the 1st quarter worth $59,000. Institutional investors and hedge funds own 64.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Seaport Res Ptn upgraded shares of GFL Environmental to a "strong-buy" rating in a report on Tuesday, May 6th. Royal Bank Of Canada boosted their target price on GFL Environmental from $56.00 to $59.00 and gave the stock 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. Truist Financial boosted their price objective on GFL Environmental from $58.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Citigroup boosted their price objective on GFL Environmental from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Two equities 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. According to MarketBeat.com, GFL Environmental presently has a consensus rating of "Buy" and an average price target of $57.86.

GFL Environmental Stock Performance

GFL Environmental stock traded up $0.75 during trading on Friday, hitting $50.07. The stock had a trading volume of 716,384 shares, compared to its average volume of 1,143,291. GFL Environmental Inc. has a 1 year low of $38.78 and a 1 year high of $52.00. 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's 50 day moving average is $49.15 and its two-hundred day moving average is $48.46. The stock has a market cap of $18.19 billion, a price-to-earnings ratio of 7.88 and a beta of 1.00.

GFL Environmental (NYSE:GFL - Get Free Report) last issued 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 firm had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the prior year, the firm earned $0.29 EPS. The business's revenue for the quarter was up 5.9% compared to the same quarter last year. GFL Environmental has set its FY 2025 guidance at EPS. As a group, analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders 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 yield of 0.1%. GFL Environmental's dividend 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.