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

GFL Environmental Inc. (NYSE:GFL) shares saw unusually-high trading volume on Monday . Approximately 2,261,293 shares changed hands during trading, an increase of 30% from the previous session’s volume of 1,741,109 shares.The stock last traded at $43.09 and had previously closed at $42.29.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Raymond James lifted their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Citigroup assumed coverage on shares of GFL Environmental in a report on Monday. They set a “buy” rating and a $53.00 target price for the company. Truist Financial increased their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 8th. Scotiabank reduced their price objective on GFL Environmental from $51.00 to $50.00 and set a “sector outperform” rating for the company in a report on Monday. 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 note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

GFL Environmental Stock Up 0.1 %

The stock has a 50-day moving average of $44.68 and a 200-day moving average of $42.23. 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 firm has a market cap of $16.98 billion, a price-to-earnings ratio of -32.45 and a beta of 1.17.

GFL Environmental (NYSE:GFL) last released its 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. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Sell-side analysts predict that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 13th will be issued a $0.014 dividend. This represents a $0.06 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Monday, January 13th. GFL Environmental’s dividend payout ratio is currently -4.51%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Fred Alger Management LLC raised its holdings in shares of GFL Environmental by 64.3% during the 3rd quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock worth $407,619,000 after buying an additional 3,999,363 shares in the last quarter. Soros Fund Management LLC raised its stake in GFL Environmental by 487.0% during the third quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company’s stock worth $125,874,000 after acquiring an additional 2,618,589 shares in the last quarter. FMR LLC raised its stake in GFL Environmental by 7.4% during the third quarter. FMR LLC now owns 25,158,657 shares of the company’s stock worth $1,003,591,000 after acquiring an additional 1,728,598 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of GFL Environmental by 162.0% in the third quarter. Brown Brothers Harriman & Co. now owns 1,271,161 shares of the company’s stock worth $50,694,000 after acquiring an additional 786,044 shares during the last quarter. Finally, Maverick Capital Ltd. boosted its stake in shares of GFL Environmental by 11.3% in the 3rd quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock valued at $145,889,000 after purchasing an additional 372,534 shares in the last quarter. 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.