GFL Environmental (NYSE:GFL) Reaches New 12-Month High – Still a Buy?

GFL Environmental Inc. (NYSE:GFL) reached a new 52-week high on Tuesday . The stock traded as high as $49.00 and last traded at $48.59, with a volume of 124943 shares. The stock had previously closed at $48.14.

Analyst Upgrades and Downgrades

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

GFL Environmental Stock Performance

The stock has a market cap of $19.03 billion, a P/E ratio of -36.36 and a beta of 1.16. The firm has a 50 day moving average of $45.14 and a two-hundred day moving average of $43.73. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.98 billion. On average, research analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 13th were issued a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Monday, January 13th. GFL Environmental’s payout ratio is -3.23%.

Institutional Trading of GFL Environmental

Several large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of GFL Environmental by 124.9% in the 4th quarter. Blue Trust Inc. now owns 551 shares of the company’s stock worth $25,000 after acquiring an additional 306 shares in the last quarter. Berbice Capital Management LLC bought a new stake in shares of GFL Environmental during the fourth quarter worth $27,000. Continuum Advisory LLC grew its holdings in shares of 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 purchasing an additional 254 shares during the last quarter. Natixis acquired a new stake in shares of GFL Environmental in the fourth quarter valued at $49,000. Finally, Avior Wealth Management LLC bought a new position in shares of GFL Environmental in the third quarter valued at about $82,000. 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.