GFL Environmental (NYSE:GFL) Sees Strong Trading Volume – Here’s Why

GFL Environmental Inc. (NYSE:GFL) shares saw strong trading volume on Monday . 2,261,293 shares changed hands during mid-day trading, an increase of 30% from the previous session’s volume of 1,741,109 shares.The stock last traded at $43.09 and had previously closed at $42.29.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Citigroup assumed coverage on GFL Environmental in a research report on Monday. They set a “buy” rating and a $53.00 price target on the stock. UBS Group increased their target price on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Raymond James lifted their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Scotiabank lowered their price objective on shares of GFL Environmental from $51.00 to $50.00 and set a “sector outperform” rating for the company in a research report on Monday. Finally, Truist Financial raised their price objective on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

GFL Environmental Trading Up 0.1 %

The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The business’s 50-day moving average is $44.68 and its two-hundred day moving average is $42.23. The firm has a market cap of $16.98 billion, a P/E ratio of -32.45 and a beta of 1.17.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. As a group, analysts predict that GFL Environmental Inc. will post 0.59 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 13th will be paid a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend is Monday, January 13th. GFL Environmental’s dividend payout ratio is currently -4.51%.

Hedge Funds Weigh In On GFL Environmental

Hedge funds and other institutional investors have recently made changes to their positions in the company. Generate Investment Management Ltd bought a new stake in GFL Environmental during the fourth quarter worth $15,041,000. Tobam bought a new stake in shares of GFL Environmental in the 4th quarter valued at about $1,846,000. Bleakley Financial Group LLC lifted its stake in GFL Environmental by 9.9% in the 4th quarter. Bleakley Financial Group LLC now owns 7,954 shares of the company’s stock valued at $354,000 after purchasing an additional 718 shares during the last quarter. Barton Investment Management grew its holdings in GFL Environmental by 0.7% during the fourth quarter. Barton Investment Management now owns 414,598 shares of the company’s stock worth $18,466,000 after purchasing an additional 2,864 shares during the period. Finally, Jennison Associates LLC increased its position in GFL Environmental by 7.0% during the fourth quarter. Jennison Associates LLC now owns 1,544,690 shares of the company’s stock worth $68,800,000 after buying an additional 101,695 shares during the last quarter. 64.70% of the stock is owned by institutional investors.

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.