GFL Environmental (NYSE:GFL) Reaches New 1-Year High – Here’s What Happened

GFL Environmental Inc. (NYSE:GFL) hit a new 52-week high during trading on Friday . The stock traded as high as $47.16 and last traded at $47.10, with a volume of 529165 shares trading hands. The stock had previously closed at $46.26.

Wall Street Analyst Weigh In

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

GFL Environmental Price Performance

The firm has a market capitalization of $18.53 billion, a price-to-earnings ratio of -35.41 and a beta of 1.15. 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’s 50 day moving average price is $42.34 and its two-hundred day moving average price is $39.75.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. 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 presently -4.51%.

Institutional Trading of GFL Environmental

Several large investors have recently added to or reduced their stakes in the business. Continuum Advisory LLC raised 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 valued at $29,000 after purchasing an additional 254 shares in the last quarter. Fifth Third Bancorp raised its holdings in GFL Environmental by 51.1% during the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock valued at $53,000 after buying an additional 459 shares in the last quarter. Spartan Fund Management Inc. acquired a new stake in shares of GFL Environmental in the third quarter worth about $60,000. Tobam boosted its stake 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 acquiring an additional 1,020 shares in the last quarter. Finally, Avior Wealth Management LLC acquired a new position in shares of GFL Environmental during the 3rd quarter valued at about $82,000. 64.70% of the stock is owned by 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.