GFL Environmental (NYSE:GFL) Sees Strong Trading Volume – What’s Next?

Shares of GFL Environmental Inc. (NYSE:GFL) saw unusually-strong trading volume on Wednesday . Approximately 1,922,513 shares changed hands during trading, an increase of 2% from the previous session’s volume of 1,882,431 shares.The stock last traded at $47.84 and had previously closed at $48.62.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GFL shares. Scotiabank lifted their target price on shares of GFL Environmental from $50.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, March 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $53.00 price objective on shares of GFL Environmental in a report on Monday, February 24th. Citigroup began coverage on GFL Environmental in a report on Monday, January 27th. They set a “buy” rating and a $53.00 target price for the company. National Bankshares restated an “outperform” rating on shares of GFL Environmental in a research report on Tuesday, March 11th. Finally, Stifel Nicolaus upgraded GFL Environmental from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.63.

GFL Environmental Trading Up 0.9 %

The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The firm has a market cap of $19.20 billion, a PE ratio of -36.69 and a beta of 1.16. The firm has a fifty day simple moving average of $45.48 and a two-hundred day simple moving average of $43.86.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.98 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. Equities analysts forecast that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 13th were given a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Monday, January 13th. GFL Environmental’s dividend payout ratio is currently -3.23%.

Institutional Trading of GFL Environmental

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Generate Investment Management Ltd purchased a new position in shares of GFL Environmental during the 4th quarter worth approximately $15,041,000. Tobam bought a new stake in shares of GFL Environmental during the fourth quarter valued at approximately $1,846,000. FMR LLC grew its stake in GFL Environmental by 7.4% in the third quarter. FMR LLC now owns 25,158,657 shares of the company’s stock worth $1,003,591,000 after purchasing an additional 1,728,598 shares during the period. Quantbot Technologies LP bought a new position in GFL Environmental in the third quarter worth $2,807,000. Finally, Duff & Phelps Investment Management Co. lifted its position in GFL Environmental by 14.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 310,918 shares of the company’s stock valued at $12,399,000 after buying an additional 39,558 shares during the period. 64.70% of the stock is currently owned by hedge funds and other 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.