GFL Environmental Inc. $GFL Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. reduced its stake in GFL Environmental Inc. (NYSE:GFL) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 231,160 shares of the company’s stock after selling 6,800 shares during the period. Addenda Capital Inc. owned approximately 0.06% of GFL Environmental worth $11,664,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GFL. American Century Companies Inc. grew its stake in shares of GFL Environmental by 87.2% in the first quarter. American Century Companies Inc. now owns 4,515,302 shares of the company’s stock valued at $218,134,000 after buying an additional 2,102,663 shares in the last quarter. Robeco Schweiz AG acquired a new stake in shares of GFL Environmental in the 1st quarter valued at about $32,724,000. 1832 Asset Management L.P. bought a new position in GFL Environmental during the 1st quarter worth approximately $27,150,000. Ghisallo Capital Management LLC acquired a new position in GFL Environmental in the first quarter worth $26,570,000. Finally, Canada Pension Plan Investment Board grew its position in shares of GFL Environmental by 101.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,089,215 shares of the company’s stock valued at $52,621,000 after buying an additional 549,309 shares during the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Stock Performance

GFL opened at $46.63 on Friday. 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 firm has a market cap of $16.94 billion, a PE ratio of 7.34 and a beta of 1.11. The business has a fifty day simple moving average of $48.67 and a 200-day simple moving average of $48.65. GFL Environmental Inc. has a fifty-two week low of $38.78 and a fifty-two week high of $52.00.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the business earned $0.29 EPS. The company’s revenue was up 5.9% on a year-over-year basis. GFL Environmental has set its FY 2025 guidance at EPS. As a group, equities analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 14th were issued a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Monday, July 14th. GFL Environmental’s dividend payout ratio (DPR) is currently 0.94%.

Analyst Ratings Changes

GFL has been the topic of a number of analyst reports. Royal Bank Of Canada increased their price objective on shares of GFL Environmental from $56.00 to $59.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Citigroup boosted their price target on shares of GFL Environmental from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Barclays initiated coverage on shares of GFL Environmental in a report on Friday, September 19th. They issued an “overweight” rating and a $62.00 price objective for the company. Truist Financial boosted their target price on GFL Environmental from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, Scotiabank increased 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. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $58.75.

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.