GFL Environmental (NYSE:GFL) Reaches New 1-Year Low – Here’s Why

Shares of GFL Environmental Inc. (NYSE:GFL) hit a new 52-week low on Wednesday . The company traded as low as $35.71 and last traded at $35.7490, with a volume of 126662 shares trading hands. The stock had previously closed at $36.42.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a report on Wednesday. Zacks Research upgraded shares of GFL Environmental from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. Barclays upped their price objective on shares of GFL Environmental from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. cut shares of GFL Environmental from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $49.00 to $42.00 in a report on Tuesday, April 14th. Finally, Citigroup decreased their price objective on shares of GFL Environmental from $55.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, GFL Environmental has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

GFL Environmental Stock Down 1.0%

The stock has a market cap of $12.91 billion, a P/E ratio of 112.74, a P/E/G ratio of 2.85 and a beta of 0.78. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.32. The firm’s fifty day moving average is $41.25 and its 200 day moving average is $42.83.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. As a group, equities research analysts forecast that GFL Environmental Inc. will post 0.54 EPS for the current year.

GFL Environmental Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 13th were given a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, April 13th. GFL Environmental’s payout ratio is presently 21.88%.

Institutional Trading of GFL Environmental

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in GFL Environmental by 35.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,344,569 shares of the company’s stock valued at $63,706,000 after purchasing an additional 349,720 shares during the period. Bank of Nova Scotia increased its holdings in GFL Environmental by 17.1% in the 3rd quarter. Bank of Nova Scotia now owns 357,808 shares of the company’s stock valued at $16,950,000 after buying an additional 52,121 shares during the period. Nordea Investment Management AB increased its holdings in GFL Environmental by 40.8% in the 4th quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock valued at $290,083,000 after buying an additional 1,932,442 shares during the period. Citigroup Inc. increased its holdings in GFL Environmental by 214.7% in the 3rd quarter. Citigroup Inc. now owns 114,849 shares of the company’s stock valued at $5,444,000 after buying an additional 78,349 shares during the period. Finally, Forge First Asset Management Inc. increased its holdings in GFL Environmental by 42.9% in the 3rd quarter. Forge First Asset Management Inc. now owns 416,100 shares of the company’s stock valued at $19,713,000 after buying an additional 124,900 shares during the period. 64.70% of the stock is owned by institutional investors.

About GFL Environmental

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.