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

GFL Environmental Inc. (NYSE:GFL) saw unusually-high trading volume on Monday . Approximately 2,261,293 shares traded hands during trading, an increase of 30% from the previous session’s volume of 1,741,109 shares.The stock last traded at $43.09 and had previously closed at $42.29.

Wall Street Analysts Forecast Growth

GFL has been the topic of several recent research reports. Scotiabank reduced their price target on GFL Environmental from $51.00 to $50.00 and set a “sector outperform” rating on the stock in a research report on Monday. Truist Financial raised 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. Raymond James upped their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 8th. UBS Group raised their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Citigroup began coverage on shares of GFL Environmental in a research note on Monday. They set a “buy” rating and a $53.00 price objective for the company. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, GFL Environmental currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

GFL Environmental Price Performance

The firm has a fifty day moving average price of $44.77 and a two-hundred day moving average price of $42.15. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $16.96 billion, a P/E ratio of -32.43 and a beta of 1.17.

GFL Environmental (NYSE:GFL) last issued its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $1.49 billion. On average, analysts expect that GFL Environmental Inc. will post 0.59 EPS for the current year.

GFL Environmental Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be given a dividend of $0.014 per share. The ex-dividend date of this dividend is Monday, January 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. GFL Environmental’s dividend payout ratio (DPR) is presently -4.51%.

Hedge Funds Weigh In On GFL Environmental

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in shares of GFL Environmental by 124.9% during the fourth quarter. Blue Trust Inc. now owns 551 shares of the company’s stock valued at $25,000 after purchasing an additional 306 shares during the last quarter. Berbice Capital Management LLC purchased a new stake in GFL Environmental during the 4th quarter valued at $27,000. Continuum Advisory LLC lifted its holdings in shares of GFL Environmental by 60.6% during the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock valued at $29,000 after buying an additional 254 shares during the period. Spartan Fund Management Inc. bought a new stake in shares of GFL Environmental in the third quarter worth $60,000. Finally, Avior Wealth Management LLC purchased a new stake in GFL Environmental during the third quarter valued at $82,000. 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.