GFL Environmental (NYSE:GFL) Reaches New 1-Year High – Here’s What Happened

GFL Environmental Inc. (NYSE:GFL) shares reached a new 52-week high on Friday . The stock traded as high as $47.16 and last traded at $47.10, with a volume of 529165 shares traded. The stock had previously closed at $46.26.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Raymond James lifted their target price on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. UBS Group upped their price objective on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Truist Financial increased their target price on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Scotiabank boosted their price target on shares of GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.

GFL Environmental Trading Up 1.8 %

The firm has a market capitalization of $18.53 billion, a P/E ratio of -35.41 and a beta of 1.15. The business’s 50 day moving average is $42.34 and its two-hundred day moving average is $39.75. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. Analysts expect that GFL Environmental Inc. will post 0.59 EPS for the current year.

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were paid a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental’s payout ratio is currently -4.51%.

Institutional Trading of GFL Environmental

Hedge funds and other institutional investors have recently modified their holdings of the company. Continuum Advisory LLC grew its holdings in GFL Environmental by 60.6% during the third quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after acquiring an additional 254 shares during the period. Truist Financial Corp boosted its position in shares of GFL Environmental by 1.8% during the 2nd quarter. Truist Financial Corp now owns 15,463 shares of the company’s stock valued at $602,000 after purchasing an additional 268 shares in the last quarter. Signaturefd LLC grew its stake in shares of GFL Environmental by 23.5% in the 2nd quarter. Signaturefd LLC now owns 2,149 shares of the company’s stock worth $84,000 after purchasing an additional 409 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of GFL Environmental by 51.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after purchasing an additional 459 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in GFL Environmental by 3.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 21,597 shares of the company’s stock valued at $838,000 after purchasing an additional 664 shares during the last quarter. Institutional investors own 64.70% of the company’s stock.

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.