GFL Environmental (NYSE:GFL) Price Target Raised to $52.00

GFL Environmental (NYSE:GFL) had its price objective upped by Citigroup from $51.00 to $52.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

GFL has been the subject of a number of other reports. Wolfe Research assumed coverage on shares of GFL Environmental in a research note on Tuesday, September 15th. They set an “outperform” rating and a $77.00 target price for the company. BMO Capital Markets reissued a “market perform” rating on shares of GFL Environmental in a report on Thursday, October 15th. JPMorgan Chase & Co. raised their price target on GFL Environmental from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 21st. Scotiabank lifted their price objective on GFL Environmental from $55.00 to $56.00 and gave the stock a “sector outperform” rating in a report on Friday, October 30th. Finally, TD Cowen reiterated a “buy” rating and set a $65.00 price objective on shares of GFL Environmental in a research report on Friday, September 11th. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.60.

GFL Environmental Stock Performance

Shares of GFL stock opened at $45.30 on Monday. The company has a 50 day moving average price of $42.99 and a 200-day moving average price of $40.88. GFL Environmental has a 52 week low of $33.33 and a 52 week high of $46.76. The firm has a market capitalization of $16.35 billion, a PE ratio of 70.31, a P/E/G ratio of 3.48 and a beta of 0.68. The company has a quick ratio of 0.75, a current ratio of 0.93 and a debt-to-equity ratio of 1.03.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $1.49 billion. GFL Environmental had a negative net margin of 4.93% and a positive return on equity of 3.84%. As a group, equities research analysts expect that GFL Environmental will post 0.56 earnings per share for the current year.

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th were issued a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 14th. GFL Environmental’s dividend payout ratio is currently -8.86%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GFL. Clear Wave Wealth Management LLC boosted its stake in shares of GFL Environmental by 80.4% in the third quarter. Clear Wave Wealth Management LLC now owns 11,201 shares of the company’s stock worth $469,000 after acquiring an additional 4,991 shares during the period. Fulcrum Asset Management LLP increased its position in GFL Environmental by 93.1% in the third quarter. Fulcrum Asset Management LLP now owns 29,104 shares of the company’s stock worth $1,228,000 after purchasing an additional 14,034 shares during the last quarter. Ethic Inc. purchased a new stake in shares of GFL Environmental during the 3rd quarter valued at about $633,000. Pictet Asset Management Holding SA raised its position in GFL Environmental by 32.7% during the third quarter. Pictet Asset Management Holding SA now owns 8,857,130 shares of the company’s stock valued at $370,510,000 after purchasing an additional 2,184,230 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of GFL Environmental in the 3rd quarter valued at approximately $309,000. 64.70% of the stock is currently owned by institutional investors.

About GFL Environmental

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.