GFL Environmental (NYSE:GFL) Stock Price Up 3.1% – What’s Next?

Shares of GFL Environmental Inc. (NYSE:GFL) rose 3.1% during mid-day trading on Wednesday . The stock traded as high as $46.82 and last traded at $45.94. Approximately 2,926,708 shares traded hands during trading, an increase of 143% from the average daily volume of 1,206,862 shares. The stock had previously closed at $44.56.

Analyst Ratings Changes

GFL has been the topic of several recent analyst reports. Scotiabank increased their target price on shares of GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. UBS Group increased their target price on shares of 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 increased their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Truist Financial increased their target price on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.80.

GFL Environmental Price Performance

The stock has a market capitalization of $17.87 billion, a PE ratio of -34.16 and a beta of 1.16. The stock’s 50 day moving average is $43.77 and its two-hundred day moving average is $41.02. 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 Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. On average, equities analysts anticipate that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were paid a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Wednesday, October 16th. GFL Environmental’s dividend payout ratio (DPR) is -3.76%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Continuum Advisory LLC increased its holdings in shares of GFL Environmental by 60.6% during the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after buying an additional 254 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of GFL Environmental by 51.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after buying an additional 459 shares during the last quarter. Spartan Fund Management Inc. acquired a new stake in shares of GFL Environmental during the 3rd quarter worth approximately $60,000. Tobam increased its holdings in shares of GFL Environmental by 139.5% during the 2nd quarter. Tobam now owns 1,751 shares of the company’s stock worth $68,000 after buying an additional 1,020 shares during the last quarter. Finally, Avior Wealth Management LLC acquired a new stake in shares of GFL Environmental during the 3rd quarter worth approximately $82,000. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Company Profile

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.