GFL Environmental (NYSE:GFL) Shares Gap Up – Here’s Why

Shares of GFL Environmental Inc. (NYSE:GFL) gapped up prior to trading on Tuesday . The stock had previously closed at $44.02, but opened at $45.62. GFL Environmental shares last traded at $44.55, with a volume of 357,460 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Raymond James upped their target price on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. UBS Group increased their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Scotiabank upped their price target on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Finally, Truist Financial upped their target price on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.80.

GFL Environmental Stock Performance

The company has a 50-day moving average price of $44.83 and a two-hundred day moving average price of $41.73. The company has a market capitalization of $17.29 billion, a PE ratio of -33.04 and a beta of 1.17. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Analysts predict that GFL Environmental Inc. will post 0.59 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 13th will be issued 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 dividend payout ratio is -3.76%.

Institutional Investors Weigh In On GFL Environmental

Several institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its holdings in shares of GFL Environmental by 6.3% during the third 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 period. Sanctuary Advisors LLC bought a new position in GFL Environmental during the 3rd quarter valued at approximately $174,000. TCW Group Inc. lifted its holdings in GFL Environmental by 24.6% in 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% during the third quarter. Toronto Dominion Bank now owns 104,578 shares of the company’s stock valued at $4,171,000 after buying an additional 17,493 shares during the period. Finally, Geode Capital Management LLC lifted its stake in GFL Environmental by 7.7% in the third quarter. Geode Capital Management LLC now owns 918,706 shares of the company’s stock worth $36,296,000 after acquiring an additional 65,449 shares during the period. Hedge funds and other institutional investors 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.