Short Interest in GFL Environmental Inc. (NYSE:GFL) Declines By 7.6%

GFL Environmental Inc. (NYSE:GFL) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 7,700,000 shares, a decline of 7.6% from the October 31st total of 8,330,000 shares. Based on an average daily trading volume, of 1,200,000 shares, the days-to-cover ratio is presently 6.4 days. Currently, 3.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On GFL Environmental

Hedge funds have recently modified their holdings of the stock. Seven Grand Managers LLC acquired a new stake in GFL Environmental in the third quarter valued at approximately $1,994,000. Harbor Capital Advisors Inc. grew its holdings in GFL Environmental by 115.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 49,566 shares of the company’s stock valued at $1,977,000 after purchasing an additional 26,542 shares in the last quarter. FMR LLC increased its stake in GFL Environmental by 7.4% during the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company’s stock worth $1,003,591,000 after buying an additional 1,728,598 shares during the period. Copeland Capital Management LLC boosted its position in GFL Environmental by 2.2% in the 3rd quarter. Copeland Capital Management LLC now owns 921,377 shares of the company’s stock valued at $36,745,000 after buying an additional 19,675 shares during the last quarter. Finally, Forsta AP Fonden acquired a new stake in shares of GFL Environmental during the third quarter valued at about $1,761,000. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

GFL Environmental Trading Down 0.9 %

GFL traded down $0.44 on Monday, reaching $46.66. 863,893 shares of the company’s stock were exchanged, compared to its average volume of 1,209,945. The company has a market cap of $18.36 billion, a price-to-earnings ratio of -35.08 and a beta of 1.15. 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 has a twelve month low of $28.21 and a twelve month high of $47.43. The company’s 50 day moving average is $42.34 and its 200-day moving average is $39.81.

GFL Environmental (NYSE:GFL) last posted its earnings results 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 negative net margin of 7.54% and a positive return on equity of 3.50%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Equities analysts predict that GFL Environmental will post 0.59 earnings per share for the current year.

GFL Environmental Announces Dividend

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

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.