Legal & General Group Plc Raises Stock Position in GFL Environmental Inc. $GFL

Legal & General Group Plc grew its stake in GFL Environmental Inc. (NYSE:GFL) by 13.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 776,343 shares of the company’s stock after purchasing an additional 92,772 shares during the quarter. Legal & General Group Plc’s holdings in GFL Environmental were worth $39,112,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GFL. Vanguard Group Inc. increased its position in shares of GFL Environmental by 1.7% during the first quarter. Vanguard Group Inc. now owns 8,843,436 shares of the company’s stock valued at $427,166,000 after buying an additional 146,256 shares during the period. Royal Bank of Canada boosted its position in GFL Environmental by 4.4% during the 1st quarter. Royal Bank of Canada now owns 7,883,481 shares of the company’s stock valued at $380,850,000 after acquiring an additional 334,218 shares in the last quarter. American Century Companies Inc. boosted its position in GFL Environmental by 87.2% during the 1st quarter. American Century Companies Inc. now owns 4,515,302 shares of the company’s stock valued at $218,134,000 after acquiring an additional 2,102,663 shares in the last quarter. Maverick Capital Ltd. grew its holdings in shares of GFL Environmental by 13.9% during the 1st quarter. Maverick Capital Ltd. now owns 4,301,966 shares of the company’s stock worth $207,828,000 after acquiring an additional 523,360 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of GFL Environmental by 11.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,592,253 shares of the company’s stock worth $79,783,000 after acquiring an additional 158,667 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GFL has been the topic of several research reports. Barclays began coverage on GFL Environmental in a research report on Friday, September 19th. They set an “overweight” rating and a $62.00 price target on the stock. Citigroup raised their price objective on GFL Environmental from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. UBS Group upped their target price on shares of GFL Environmental from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. decreased their price target on shares of GFL Environmental from $54.00 to $46.75 and set a “neutral” rating for the company in a research note on Friday, November 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of GFL Environmental in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, GFL Environmental has a consensus rating of “Buy” and a consensus price target of $57.08.

GFL Environmental Trading Up 0.7%

GFL Environmental stock opened at $45.49 on Thursday. GFL Environmental Inc. has a 12 month low of $41.29 and a 12 month high of $52.00. The company has a market capitalization of $16.53 billion, a price-to-earnings ratio of 7.13 and a beta of 1.14. The business’s fifty day simple moving average is $45.29 and its two-hundred day simple moving average is $47.76. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98.

GFL Environmental (NYSE:GFL) last issued its quarterly 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). The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.69 billion. GFL Environmental had a net margin of 50.99% and a return on equity of 3.06%. GFL Environmental’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. 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 fiscal year.

GFL Environmental Dividend Announcement

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

GFL Environmental Company 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.