Wellington Management Group LLP Has $99.91 Million Stock Holdings in GFL Environmental Inc. $GFL

Key Points

• Wellington Management Group LLP reduced its stake in GFL Environmental by 1.3%, holding approximately 2.07 million shares valued at $99.9 million after the sale.
• Multiple institutional investors have recently increased their positions in GFL Environmental, with American Century Companies Inc. boosting its stake by 87.2%.
• GFL Environmental has garnered positive ratings from analysts, including a recent upgrade by National Bank Financial to a "strong-buy" rating, indicating strong market support for the company's stock.

Wellington Management Group LLP cut its position in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,068,062 shares of the company's stock after selling 27,635 shares during the quarter. Wellington Management Group LLP owned 0.53% of GFL Environmental worth $99,908,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GFL. Millstone Evans Group LLC grew its position in GFL Environmental by 147.8% during the first 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. acquired a new stake in GFL Environmental during the first quarter worth about $28,000. LRI Investments LLC acquired a new stake in GFL Environmental during the first quarter worth about $34,000. Natixis acquired a new stake in GFL Environmental during the fourth quarter worth about $49,000. Finally, Harbor Investment Advisory LLC acquired a new stake in GFL Environmental during the first quarter worth about $53,000. 64.70% of the stock is owned by institutional investors and hedge funds.

GFL Environmental Price Performance

Shares of NYSE:GFL traded down $0.02 during trading on Wednesday, reaching $49.90. The stock had a trading volume of 71,281 shares, compared to its average volume of 1,628,006. GFL Environmental Inc. has a 52 week low of $38.78 and a 52 week high of $52.00. The business's 50-day moving average price is $49.15 and its 200 day moving average price is $48.39. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $18.13 billion, a PE ratio of 7.86 and a beta of 1.00.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its 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. 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 during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the previous year, the company posted $0.29 earnings per share. GFL Environmental's quarterly revenue was up 5.9% compared to the same quarter last year. GFL Environmental has set its FY 2025 guidance at EPS. As a group, equities analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 14th were paid a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.1%. GFL Environmental's dividend payout ratio (DPR) is currently 0.94%.

Wall Street Analyst Weigh In

GFL has been the subject of a number of analyst reports. Seaport Res Ptn upgraded shares of GFL Environmental to a "strong-buy" rating in a research note on Tuesday, May 6th. Scotiabank raised their price target on shares of GFL Environmental from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. initiated coverage on shares of GFL Environmental in a research note on Friday, May 23rd. They set a "neutral" rating and a $54.00 price target for the company. Citigroup raised their price target on shares of GFL Environmental from $56.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Finally, Royal Bank Of Canada raised their price target on shares of GFL Environmental from $56.00 to $59.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, GFL Environmental currently has an average rating of "Buy" and an average 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.