Forge First Asset Management Inc. Sells 80,800 Shares of GFL Environmental Inc. $GFL

Forge First Asset Management Inc. reduced its position in GFL Environmental Inc. (NYSE:GFL) by 21.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 291,200 shares of the company’s stock after selling 80,800 shares during the period. GFL Environmental accounts for approximately 5.3% of Forge First Asset Management Inc.’s investment portfolio, making the stock its 6th largest holding. Forge First Asset Management Inc.’s holdings in GFL Environmental were worth $14,676,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in GFL Environmental by 1.7% in the first quarter. Vanguard Group Inc. now owns 8,843,436 shares of the company’s stock worth $427,166,000 after purchasing an additional 146,256 shares during the period. S&CO Inc. boosted its stake in shares of GFL Environmental by 86.6% in the 2nd quarter. S&CO Inc. now owns 114,260 shares of the company’s stock valued at $5,765,000 after purchasing an additional 53,030 shares during the last quarter. Aviva PLC acquired a new stake in shares of GFL Environmental during the 2nd quarter worth approximately $6,361,000. Palumbo Wealth Management LLC acquired a new stake in shares of GFL Environmental during the 2nd quarter worth approximately $553,000. Finally, Bank of New York Mellon Corp raised its stake in shares of GFL Environmental by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 192,306 shares of the company’s stock worth $9,290,000 after buying an additional 4,981 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Price Performance

Shares of GFL stock opened at $45.53 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.98. GFL Environmental Inc. has a 12-month low of $41.29 and a 12-month high of $52.00. The firm has a fifty day moving average of $45.46 and a 200-day moving average of $47.96. The firm has a market capitalization of $16.54 billion, a price-to-earnings ratio of 7.14 and a beta of 1.14.

GFL Environmental (NYSE:GFL) last posted its earnings results on Wednesday, November 5th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). GFL Environmental had a return on equity of 3.06% and a net margin of 50.99%.The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The business’s revenue was up 9.0% on a year-over-year basis. GFL Environmental has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Wednesday, October 15th were given a $0.0154 dividend. The ex-dividend date was Wednesday, October 15th. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. GFL Environmental’s payout ratio is currently 0.94%.

Analyst Ratings Changes

A number of analysts have commented on GFL shares. Citigroup lifted their target price on shares of GFL Environmental from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Wells Fargo & Company started coverage on GFL Environmental in a research note on Thursday, November 13th. They set an “overweight” rating for the company. Stifel Nicolaus started coverage on GFL Environmental in a report on Tuesday, September 30th. They issued a “buy” rating for the company. Royal Bank Of Canada upped their price objective on GFL Environmental from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Finally, William Blair began coverage on GFL Environmental in a report on Thursday, September 25th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, GFL Environmental currently has a consensus rating of “Buy” and a consensus target price of $57.97.

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.