Truist Financial Corp Sells 3,435 Shares of GFL Environmental Inc. $GFL

Truist Financial Corp reduced its stake in GFL Environmental Inc. (NYSE:GFL) by 13.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,126 shares of the company’s stock after selling 3,435 shares during the quarter. Truist Financial Corp’s holdings in GFL Environmental were worth $1,116,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GFL. Fifth Third Bancorp raised its holdings in GFL Environmental by 81.9% in the 1st quarter. Fifth Third Bancorp now owns 1,643 shares of the company’s stock worth $79,000 after purchasing an additional 740 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in GFL Environmental during the first quarter valued at about $385,000. Verde Servicos Internacionais S.A. bought a new stake in GFL Environmental during the first quarter valued at about $9,439,000. Wealthquest Corp bought a new stake in GFL Environmental during the first quarter valued at about $253,000. Finally, Bessemer Group Inc. bought a new stake in GFL Environmental during the first quarter valued at about $28,000. 64.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GFL shares. Scotiabank set a $58.00 price target on GFL Environmental in a report on Friday. Raymond James Financial set a $57.00 price target on GFL Environmental and gave the company an “outperform” rating in a report on Monday, October 6th. Truist Financial raised their price target on GFL Environmental from $58.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 1st. William Blair started coverage on GFL Environmental in a report on Thursday, September 25th. They set an “outperform” rating on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of GFL Environmental in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $58.50.

GFL Environmental Trading Up 1.7%

Shares of GFL Environmental stock opened at $45.93 on Monday. The firm has a market cap of $16.69 billion, a price-to-earnings ratio of 7.23 and a beta of 1.17. The business has a 50-day moving average price of $48.28 and a 200-day moving average price of $48.57. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.89. GFL Environmental Inc. has a twelve month low of $39.63 and a twelve month high of $52.00.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The firm 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%.The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 earnings per share. GFL Environmental has set its FY 2025 guidance at EPS. Equities research analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 15th will be given a $0.0154 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $0.06 annualized dividend and a yield of 0.1%. GFL Environmental’s dividend payout ratio (DPR) is currently 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.