Geode Capital Management LLC Buys 158,667 Shares of GFL Environmental Inc. $GFL

Geode Capital Management LLC increased its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 11.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,592,253 shares of the company’s stock after acquiring an additional 158,667 shares during the period. Geode Capital Management LLC owned about 0.43% of GFL Environmental worth $79,783,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GFL. Caitong International Asset Management Co. Ltd bought a new position in GFL Environmental during the 1st quarter worth about $59,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of GFL Environmental during the second quarter worth about $90,000. WPG Advisers LLC bought a new position in shares of GFL Environmental during the first quarter worth about $105,000. Jones Financial Companies Lllp raised its position in GFL Environmental by 684.5% in the 1st quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company’s stock valued at $124,000 after buying an additional 2,245 shares during the last quarter. Finally, Whipplewood Advisors LLC lifted its stake in GFL Environmental by 21.7% in the 2nd quarter. Whipplewood Advisors LLC now owns 2,790 shares of the company’s stock valued at $141,000 after acquiring an additional 498 shares in the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

GFL Environmental Price Performance

Shares of GFL opened at $45.11 on Friday. The company has a market cap of $16.39 billion, a price-to-earnings ratio of 7.07 and a beta of 1.14. GFL Environmental Inc. has a 1-year low of $41.29 and a 1-year high of $52.00. The company’s fifty day simple moving average is $45.36 and its 200 day simple moving average is $47.87. 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 announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The firm had revenue of $1.22 billion during 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%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the business earned $0.33 EPS. GFL Environmental has set its FY 2025 guidance at EPS. On average, research analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GFL shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GFL Environmental in a research note on Wednesday, October 8th. Barclays began coverage on shares of GFL Environmental in a report on Friday, September 19th. They set an “overweight” rating and a $62.00 target price for the company. UBS Group lifted their price target on shares of GFL Environmental from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Stifel Nicolaus started coverage on shares of GFL Environmental in a research note on Tuesday, September 30th. They set a “buy” rating for the company. Finally, Truist Financial raised their price objective on GFL Environmental from $58.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, GFL Environmental currently has a consensus rating of “Buy” and a consensus target price of $57.97.

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.