5 Oversold Large Cap Stocks to Buy

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1. GFL Environmental Inc. (NYSE:GFL)

14-day RSI as of July 31: 24.05

Number of Hedge Fund Holders: 21

Ontario, Canada-based GFL Environmental Inc. (NYSE:GFL) is the fourth largest diversified environmental services company in North America, offering solid waste management, liquid waste management, and soil remediation services across Canada and in more than half of the U.S. states.

GFL Environmental Inc. (NYSE:GFL) released its financial results for the Q2 2023 which showed continuation in solid performance from the previous quarter. The revenue of the company increased by 14% y-o-y to reach C$1.9 billion while net income more than tripled to C$294 million. The company also managed to achieve its target of non-core divestitures during the quarter. The gross proceeds, amounting to C$1.65 billion, were mainly used to deleverage the balance sheet.

GFL Environmental Inc. (NYSE:GFL) ranks #1 on our list of 10 oversold large cap stocks to buy based on its 14-day RSI of 24.05. The shares of the company were held by 21 hedge funds, valued at $290 million.

You may also like to read 10 Oversold Financial Stocks to Buy and 15 Worst Performing NASDAQ Stocks In 2023

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