GFL Environmental (NYSE:GFL) Sees Unusually-High Trading Volume – Here’s Why

GFL Environmental Inc. (NYSE:GFL) shares saw strong trading volume on Wednesday . 1,475,793 shares changed hands during trading, an increase of 22% from the previous session’s volume of 1,207,021 shares.The stock last traded at $44.38 and had previously closed at $43.53.

Analyst Ratings Changes

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

GFL Environmental Price Performance

The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The business’s fifty day simple moving average is $44.87 and its 200 day simple moving average is $41.77. The firm has a market capitalization of $17.62 billion, a price-to-earnings ratio of -33.68 and a beta of 1.17.

GFL Environmental (NYSE:GFL) last issued its 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. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. On average, research analysts forecast that GFL Environmental Inc. will post 0.59 EPS for the current year.

GFL Environmental Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 13th will be paid a $0.014 dividend. The ex-dividend date is Monday, January 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. GFL Environmental’s dividend payout ratio is presently -3.76%.

Hedge Funds Weigh In On GFL Environmental

Institutional investors have recently bought and sold shares of the stock. Natixis Advisors LLC boosted its position in shares of GFL Environmental by 11.4% during the second quarter. Natixis Advisors LLC now owns 53,318 shares of the company’s stock valued at $2,075,000 after buying an additional 5,471 shares during the period. National Bank of Canada FI increased its stake in GFL Environmental by 1.6% in the second quarter. National Bank of Canada FI now owns 183,004 shares of the company’s stock worth $7,073,000 after purchasing an additional 2,887 shares during the period. Acadian Asset Management LLC bought a new stake in shares of GFL Environmental during the second quarter worth $201,000. Andra AP fonden bought a new position in shares of GFL Environmental in the second quarter worth about $90,000. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of GFL Environmental by 3.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 21,597 shares of the company’s stock valued at $838,000 after buying an additional 664 shares during the period. 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.