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

GFL Environmental Inc. (NYSE:GFL) shares saw unusually-high trading volume on Wednesday . Approximately 1,475,793 shares traded hands during mid-day 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.

Analysts Set New Price Targets

GFL has been the subject of several research reports. Truist Financial lifted their price objective on shares of GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Scotiabank upped their price target on GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research note on Friday, November 8th. Raymond James lifted their target price on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, UBS Group upped their price target on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, GFL Environmental has an average rating of “Moderate Buy” and an average target price of $45.80.

GFL Environmental Stock Performance

The stock’s 50-day simple moving average is $44.87 and its 200 day simple moving average is $41.77. The company has a market cap of $17.62 billion, a PE ratio of -33.68 and a beta of 1.17. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.49 billion. As a group, equities analysts anticipate that GFL Environmental Inc. will post 0.59 EPS for the current year.

GFL Environmental Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its holdings in GFL Environmental by 7.4% during the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company’s stock worth $1,003,591,000 after purchasing an additional 1,728,598 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in GFL Environmental by 2.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,817,626 shares of the company’s stock worth $471,287,000 after purchasing an additional 257,486 shares during the period. Fred Alger Management LLC boosted its position in shares of GFL Environmental by 64.3% in the third 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 during the period. Millennium Management LLC increased its holdings in shares of GFL Environmental by 40.0% in the 2nd quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock valued at $219,922,000 after purchasing an additional 1,614,182 shares during the period. Finally, Maverick Capital Ltd. lifted its position in GFL Environmental by 11.3% in the 3rd quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock worth $145,889,000 after buying an additional 372,534 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

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.