5 Best Recycling Stocks To Buy Now

In this article, we discuss 5 best recycling stocks to buy now. If you want to see more stocks in this selection, check out 11 Best Recycling Stocks To Buy Now. 

5. GFL Environmental Inc. (NYSE:GFL)

Number of Hedge Fund Holders: 28

GFL Environmental Inc. (NYSE:GFL) is a diversified environmental services company operating in Canada and the United States. The company offers non-hazardous solid waste management, infrastructure and soil remediation, and liquid waste management services. Its solid waste management business includes the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste for municipal, residential, and commercial and industrial customers. 

On November 2, GFL Environmental Inc. (NYSE:GFL) reported a Q3 non-GAAP EPS of $0.20 and a revenue of $1.83 billion, topping market estimates by $0.04 and $570 million, respectively. It is one of the premier recycling stocks to invest in. 

CIBC analyst Kevin Chiang on December 14 raised the firm’s price target on GFL Environmental Inc. (NYSE:GFL) to C$50 from C$46 and maintained an Outperform rating on the shares.

According to Insider Monkey’s data, 28 hedge funds were long GFL Environmental Inc. (NYSE:GFL) at the end of Q3 2022, compared to 25 funds in the last quarter. Robert Pohly’s Samlyn Capital is the largest stakeholder of the company, with 4.5 million shares worth $114.3 million. 

Here is what Ave Maria specifically said about GFL Environmental Inc. (NYSE:GFL) in its Q2 2022 investor letter:

“GFL Environmental Inc. (NYSE:GFL) is a growing solid waste management company. In the first quarter of 2022, revenue increased 11.3% on an organic basis and 27.4% including acquisitions. At the company’s investor day in May, the management provided increased free-cash-flow guidance for 2022, 2023 and 2024., which looks very positive.”