Allianz Asset Management GmbH Sells 14,992 Shares of GFL Environmental Inc. $GFL

Allianz Asset Management GmbH cut its holdings in shares of GFL Environmental Inc. (NYSE:GFL) by 18.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,651 shares of the company’s stock after selling 14,992 shares during the period. Allianz Asset Management GmbH’s holdings in GFL Environmental were worth $3,358,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bessemer Group Inc. purchased a new position in GFL Environmental during the first quarter worth about $28,000. Cambridge Investment Research Advisors Inc. bought a new stake in GFL Environmental in the first quarter worth about $385,000. Vanguard Group Inc. raised 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 acquiring an additional 146,256 shares during the period. Palumbo Wealth Management LLC bought a new stake in GFL Environmental in the second quarter worth about $553,000. Finally, Bank of New York Mellon Corp raised its position in shares of GFL Environmental by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 192,306 shares of the company’s stock valued at $9,290,000 after purchasing an additional 4,981 shares during the period. 64.70% of the stock is owned by institutional investors.

GFL Environmental Price Performance

Shares of NYSE:GFL opened at $46.03 on Friday. The company has a 50 day moving average of $47.38 and a 200 day moving average of $48.46. The stock has a market cap of $16.72 billion, a P/E ratio of 7.25 and a beta of 1.17. GFL Environmental Inc. has a 12 month low of $39.63 and a 12 month high of $52.00. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.68 billion. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. GFL Environmental’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 earnings per share. GFL Environmental has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.0154 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. GFL Environmental’s payout ratio is presently 0.94%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Scotiabank set a $58.00 price target on shares of GFL Environmental in a research report on Friday, October 10th. Citigroup boosted their price target on shares of GFL Environmental from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Barclays assumed coverage on shares of GFL Environmental in a research report on Friday, September 19th. They issued an “overweight” rating and a $62.00 price target on the stock. Stifel Nicolaus assumed coverage on shares of GFL Environmental in a research report on Tuesday, September 30th. They issued a “buy” rating on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of GFL Environmental in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, GFL Environmental has a consensus rating of “Buy” and an average price target of $58.63.

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.