GFL Environmental Inc. (NYSE:GFL) Short Interest Down 7.6% in November

GFL Environmental Inc. (NYSE:GFL) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 7,700,000 shares, a decrease of 7.6% from the October 31st total of 8,330,000 shares. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is presently 6.4 days. Currently, 3.0% of the company’s stock are short sold.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Scotiabank increased their price target on shares of GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Raymond James increased their target price on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. UBS Group increased their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Truist Financial increased 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. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.80.

GFL Environmental Price Performance

GFL traded up $0.28 during midday trading on Wednesday, hitting $46.95. The company had a trading volume of 362,235 shares, compared to its average volume of 1,203,649. GFL Environmental has a twelve month low of $28.21 and a twelve month high of $47.43. The firm’s 50-day simple moving average is $42.62 and its 200-day simple moving average is $40.02. The company has a market capitalization of $18.47 billion, a PE ratio of -35.09 and a beta of 1.16. 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 released its earnings results on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. Equities research analysts predict that GFL Environmental will post 0.59 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental’s dividend payout ratio (DPR) is -4.51%.

Hedge Funds Weigh In On GFL Environmental

A number of hedge funds and other institutional investors have recently bought and sold shares of GFL. Tidal Investments LLC boosted its position in shares of GFL Environmental by 6.3% in the 3rd quarter. Tidal Investments LLC now owns 20,853 shares of the company’s stock worth $832,000 after purchasing an additional 1,238 shares during the last quarter. Sanctuary Advisors LLC bought a new position in GFL Environmental during the third quarter worth about $174,000. TCW Group Inc. grew its position in shares of GFL Environmental by 24.6% during the 3rd quarter. TCW Group Inc. now owns 21,598 shares of the company’s stock worth $861,000 after buying an additional 4,270 shares during the period. Toronto Dominion Bank increased its stake in shares of GFL Environmental by 20.1% in the 3rd quarter. Toronto Dominion Bank now owns 104,578 shares of the company’s stock valued at $4,171,000 after acquiring an additional 17,493 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of GFL Environmental by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 918,706 shares of the company’s stock valued at $36,296,000 after acquiring an additional 65,449 shares during the period. 64.70% of the stock is owned by institutional investors.

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.