GFL Environmental (NYSE:GFL) Stock Price Up 3.1% – Still a Buy?

GFL Environmental Inc. (NYSE:GFL) rose 3.1% during mid-day trading on Wednesday . The stock traded as high as $46.82 and last traded at $45.94. Approximately 2,926,708 shares changed hands during mid-day trading, an increase of 143% from the average daily volume of 1,206,862 shares. The stock had previously closed at $44.56.

Wall Street Analysts Forecast Growth

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

GFL Environmental Trading Down 0.4 %

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 company has a market cap of $17.66 billion, a P/E ratio of -33.74 and a beta of 1.16. The business’s 50-day moving average price is $43.95 and its 200 day moving average price is $41.08.

GFL Environmental (NYSE:GFL) last issued its quarterly 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. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. As a group, analysts expect that GFL Environmental Inc. will post 0.59 earnings per share for the current year.

GFL Environmental Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Wednesday, October 16th. GFL Environmental’s payout ratio is -3.76%.

Institutional Investors Weigh In On GFL Environmental

A number of institutional investors have recently modified their holdings of GFL. Envestnet Portfolio Solutions Inc. lifted its stake in GFL Environmental by 43.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,732 shares of the company’s stock valued at $379,000 after acquiring an additional 2,937 shares in the last quarter. Fifth Third Bancorp lifted its stake in GFL Environmental by 51.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after purchasing an additional 459 shares in the last quarter. Capital Insight Partners LLC grew its position in GFL Environmental by 2.4% during the second quarter. Capital Insight Partners LLC now owns 35,650 shares of the company’s stock worth $1,388,000 after buying an additional 820 shares in the last quarter. Schwartz Investment Counsel Inc. raised its stake in GFL Environmental by 5.8% in the second quarter. Schwartz Investment Counsel Inc. now owns 210,722 shares of the company’s stock valued at $8,203,000 after purchasing an additional 11,600 shares in the last quarter. Finally, Tobam lifted its holdings in shares of GFL Environmental by 139.5% during the 2nd quarter. Tobam now owns 1,751 shares of the company’s stock worth $68,000 after acquiring an additional 1,020 shares during the last quarter. 64.70% of the stock is owned by institutional investors.

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.