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

GFL Environmental Inc. (NYSE:GFL) saw strong trading volume on Tuesday. Approximately 9,149,370 shares traded hands during mid-day trading, an increase of 266% from the previous session’s volume of 2,498,937 shares. The stock last traded at $44.3010 and had previously closed at $44.68.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GFL shares. Citigroup set a $51.00 price objective on shares of GFL Environmental and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a research note on Monday, August 31st. TD Cowen reaffirmed a “buy” rating and issued a $65.00 price target on shares of GFL Environmental in a report on Friday, September 11th. Wolfe Research initiated coverage on shares of GFL Environmental in a report on Tuesday, September 15th. They issued an “outperform” rating and a $77.00 price target on the stock. Finally, Weiss Ratings raised GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 26th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.56.

GFL Environmental Stock Performance

The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.34. The company has a market cap of $15.73 billion, a PE ratio of -82.22, a P/E/G ratio of 3.42 and a beta of 0.72. The firm’s 50-day simple moving average is $42.28 and its two-hundred day simple moving average is $39.78.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). GFL Environmental had a positive return on equity of 4.14% and a negative net margin of 3.28%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the business posted $0.26 EPS. The company’s quarterly revenue was up 16.3% on a year-over-year basis. As a group, research analysts anticipate that GFL Environmental Inc. will post 0.55 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 14th will be given a $0.0169 dividend. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, October 14th. GFL Environmental’s dividend payout ratio is presently -13.21%.

Hedge Funds Weigh In On GFL Environmental

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in GFL Environmental during the 1st quarter worth about $32,000. Integrated Wealth Concepts LLC purchased a new stake in GFL Environmental during the 2nd quarter valued at about $31,000. GAMMA Investing LLC increased its holdings in shares of GFL Environmental by 853.7% in the third quarter. GAMMA Investing LLC now owns 1,030 shares of the company’s stock valued at $43,000 after purchasing an additional 922 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of GFL Environmental by 36.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,335 shares of the company’s stock valued at $56,000 after purchasing an additional 360 shares during the period. Finally, Parallel Advisors LLC increased its holdings in shares of GFL Environmental by 256.9% in the first quarter. Parallel Advisors LLC now owns 1,542 shares of the company’s stock valued at $64,000 after purchasing an additional 1,110 shares during the period. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Company Profile

GFL Environmental Inc is a Canadian environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company’s operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste, as well as organics and other resource-recovery services.

GFL also provides infrastructure and soil remediation services, including the management of contaminated materials and related environmental projects.