Millennium Management LLC Decreases Holdings in GFL Environmental Inc. $GFL

Millennium Management LLC cut its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 68.3% in the 1st quarter, HoldingsChannel reports. The firm owned 569,343 shares of the company’s stock after selling 1,224,789 shares during the quarter. Millennium Management LLC’s holdings in GFL Environmental were worth $27,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Millstone Evans Group LLC lifted its position in shares of GFL Environmental by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 560 shares of the company’s stock valued at $27,000 after buying an additional 334 shares during the last quarter. Bessemer Group Inc. purchased a new stake in GFL Environmental in the 1st quarter worth about $28,000. LRI Investments LLC purchased a new stake in GFL Environmental in the 1st quarter worth about $34,000. Harbor Investment Advisory LLC purchased a new stake in GFL Environmental in the 1st quarter worth about $53,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in GFL Environmental in the 1st quarter worth about $59,000. 64.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Scotiabank lifted their price objective on GFL Environmental from $56.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Friday, August 1st. Citigroup lifted their price objective on GFL Environmental from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 4th. Royal Bank Of Canada lifted their price objective on GFL Environmental from $56.00 to $59.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Truist Financial lifted their price objective on GFL Environmental from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, National Bank Financial raised GFL Environmental to a “strong-buy” rating in a report on Monday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, GFL Environmental presently has a consensus rating of “Buy” and an average price target of $57.86.

GFL Environmental Stock Up 1.7%

Shares of NYSE GFL opened at $48.16 on Friday. GFL Environmental Inc. has a 52 week low of $38.78 and a 52 week high of $52.00. The business has a 50-day simple moving average of $48.93 and a two-hundred day simple moving average of $48.58. 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 company has a market cap of $17.50 billion, a P/E ratio of 7.58 and a beta of 1.11.

GFL Environmental (NYSE:GFL) last issued its earnings results on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. GFL Environmental had a return on equity of 3.71% and a net margin of 48.53%.The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the company earned $0.29 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. GFL Environmental has set its FY 2025 guidance at EPS. Research analysts anticipate that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The firm also recently announced 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%. The ex-dividend date was Monday, July 14th. GFL Environmental’s dividend payout ratio is currently 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.