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

GFL Environmental Inc. (NYSE:GFL) shares saw unusually-strong trading volume on Wednesday . Approximately 1,922,513 shares were traded during mid-day 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.

Analysts Set New Price Targets

Several research firms have commented on GFL. Citigroup began coverage on shares of GFL Environmental in a report on Monday, January 27th. They issued a “buy” rating and a $53.00 target price on the stock. National Bankshares reaffirmed an “outperform” rating on shares of GFL Environmental in a research note on Tuesday, March 11th. Stifel Nicolaus raised GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Scotiabank lifted their price target on shares of GFL Environmental from $50.00 to $52.00 and gave the company a “sector outperform” rating in a report on Wednesday, March 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $53.00 price objective on shares of GFL Environmental in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.63.

GFL Environmental Price Performance

The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The stock has a market cap of $19.02 billion, a P/E ratio of -36.38 and a beta of 1.16. The company’s 50 day moving average price is $45.24 and its 200-day moving average price is $43.79.

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

GFL Environmental Announces Dividend

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

Hedge Funds Weigh In On GFL Environmental

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in GFL Environmental by 124.9% during the 4th quarter. Blue Trust Inc. now owns 551 shares of the company’s stock worth $25,000 after acquiring an additional 306 shares during the period. Berbice Capital Management LLC acquired a new position in shares of GFL Environmental in the 4th quarter valued at about $27,000. Continuum Advisory LLC boosted its position in shares of GFL Environmental by 60.6% during the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock valued at $29,000 after purchasing an additional 254 shares in the last quarter. Natixis acquired a new stake in GFL Environmental during the fourth quarter worth approximately $49,000. Finally, SRH Advisors LLC bought a new stake in GFL Environmental in the fourth quarter worth approximately $89,000. Institutional investors own 64.70% of the company’s stock.

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.