XTX Topco Ltd Makes New Investment in GFL Environmental Inc. (NYSE:GFL)

Key Points

• XTX Topco Ltd acquired a new stake in GFL Environmental Inc. valued at approximately $259,000 during the first quarter, purchasing 5,352 shares of the company's stock.
• GFL Environmental reported earnings per share of $0.19 and revenue of $1.23 billion for the last quarter, with a return on equity of 3.71%.
• Several analysts have increased their price targets for GFL Environmental, with Scotiabank raising it to $60.00 and overall consensus rating of "Buy" with an average target price of $57.86.

XTX Topco Ltd purchased a new position in GFL Environmental Inc. (NYSE:GFL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,352 shares of the company's stock, valued at approximately $259,000.

A number of other hedge funds also recently modified their holdings of GFL. Geode Capital Management LLC increased its position in shares of GFL Environmental by 38.7% in the fourth quarter. Geode Capital Management LLC now owns 1,274,496 shares of the company's stock worth $56,496,000 after purchasing an additional 355,790 shares during the period. Envestnet Asset Management Inc. boosted its stake in GFL Environmental by 16.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 207,157 shares of the company's stock valued at $9,227,000 after buying an additional 29,467 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in GFL Environmental in the fourth quarter valued at about $18,836,000. Rockefeller Capital Management L.P. boosted its stake in GFL Environmental by 0.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 42,153 shares of the company's stock valued at $1,878,000 after buying an additional 375 shares in the last quarter. Finally, Cohen & Steers Inc. acquired a new stake in shares of GFL Environmental during the fourth quarter valued at about $51,505,000. Institutional investors own 64.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Truist Financial lifted their price target on GFL Environmental from $58.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, August 1st. National Bank Financial raised GFL Environmental to a "strong-buy" rating in a research note on Monday, May 26th. Raymond James Financial reissued an "outperform" rating and issued a $57.00 price target (up from $56.00) on shares of GFL Environmental in a research note on Friday, May 2nd. Seaport Res Ptn raised GFL Environmental to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. began coverage on GFL Environmental in a research note on Friday, May 23rd. They issued a "neutral" rating and a $54.00 price target on the stock. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $57.86.

GFL Environmental Stock Down 1.1%

Shares of NYSE:GFL traded down $0.56 during trading on Friday, reaching $49.64. 420,821 shares of the stock were exchanged, compared to its average volume of 1,654,479. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.67 and a quick ratio of 0.67. GFL Environmental Inc. has a 1-year low of $38.78 and a 1-year high of $52.00. The stock has a fifty day moving average of $49.14 and a two-hundred day moving average of $48.04. The firm has a market cap of $18.20 billion, a price-to-earnings ratio of 7.81 and a beta of 1.00.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, meeting analysts' consensus estimates 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 return on equity of 3.71% and a net margin of 48.53%. GFL Environmental's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. Research 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. Shareholders of record on Monday, July 14th were paid a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.1%. GFL Environmental's dividend payout ratio (DPR) is presently 0.94%.

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.