GFL Environmental (NYSE:GFL) Sets New 52-Week High – Here’s Why

GFL Environmental Inc. (NYSE:GFL)’s share price hit a new 52-week high on Tuesday . The company traded as high as $49.00 and last traded at $48.59, with a volume of 124943 shares changing hands. The stock had previously closed at $48.14.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GFL shares. Scotiabank upped their price objective on GFL Environmental from $50.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $53.00 price target on shares of GFL Environmental in a report on Monday, February 24th. National Bankshares restated an “outperform” rating on shares of GFL Environmental in a report on Tuesday, March 11th. Citigroup initiated coverage on shares of GFL Environmental in a report on Monday, January 27th. They set a “buy” rating and a $53.00 target price for the company. Finally, Stifel Nicolaus upgraded GFL Environmental from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.63.

GFL Environmental Stock Performance

The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $19.03 billion, a P/E ratio of -36.36 and a beta of 1.16. The stock’s 50-day moving average is $45.14 and its 200 day moving average is $43.73.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.98 billion. On average, research analysts predict that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 13th were given a $0.014 dividend. The ex-dividend date of this dividend was Monday, January 13th. This represents a $0.06 annualized dividend and a yield of 0.12%. GFL Environmental’s dividend payout ratio is currently -3.23%.

Institutional Trading of GFL Environmental

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its position in GFL Environmental by 10.0% in the 4th quarter. FMR LLC now owns 27,664,678 shares of the company’s stock valued at $1,233,223,000 after buying an additional 2,506,021 shares during the last quarter. Capital Research Global Investors boosted its holdings in GFL Environmental by 11.4% during the fourth quarter. Capital Research Global Investors now owns 26,973,784 shares of the company’s stock worth $1,201,406,000 after purchasing an additional 2,751,618 shares during the last quarter. Fred Alger Management LLC grew its position in GFL Environmental by 1.9% in the fourth quarter. Fred Alger Management LLC now owns 10,411,148 shares of the company’s stock valued at $463,713,000 after purchasing an additional 190,018 shares in the last quarter. Vanguard Group Inc. increased its stake in GFL Environmental by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 8,697,180 shares of the company’s stock valued at $387,705,000 after buying an additional 217,096 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its position in GFL Environmental by 11.3% during 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.

About GFL Environmental

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.