GFL Environmental (NYSE:GFL) Sees Unusually-High Trading Volume

Shares of GFL Environmental Inc. (NYSE:GFL – Get Rating) saw an uptick in trading volume on Tuesday . 41,190 shares changed hands during trading, a decline of 97% from the previous session’s volume of 1,187,271 shares.The stock last traded at $30.28 and had previously closed at $30.81.

Analyst Ratings Changes

Several brokerages have weighed in on GFL. CIBC boosted their price objective on GFL Environmental from C$46.00 to C$50.00 in a report on Wednesday, December 14th. National Bank Financial dropped their price objective on GFL Environmental from C$53.00 to C$47.00 in a report on Thursday, October 20th. Bank Of America (Bofa) raised GFL Environmental to a “buy” rating in a report on Friday, October 21st. Jefferies Financial Group reissued a “buy” rating and set a $41.00 price objective on shares of GFL Environmental in a report on Tuesday, October 25th. Finally, Raymond James dropped their price objective on GFL Environmental from $37.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, November 7th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $42.06.

GFL Environmental Stock Down 1.3 %

The firm has a market capitalization of $10.19 billion, a price-to-earnings ratio of -59.04 and a beta of 1.19. The business’s 50-day moving average is $28.33 and its two-hundred day moving average is $27.55. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.64 and a current ratio of 0.64.

GFL Environmental (NYSE:GFL – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.26 billion. GFL Environmental had a negative net margin of 2.57% and a positive return on equity of 3.52%. On average, equities analysts anticipate that GFL Environmental Inc. will post 0.42 earnings per share for the current year.

GFL Environmental Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Wednesday, January 18th will be issued a dividend of $0.012 per share. The ex-dividend date is Tuesday, January 17th. This represents a $0.05 annualized dividend and a yield of 0.16%. GFL Environmental’s dividend payout ratio (DPR) is currently -9.80%.

Hedge Funds Weigh In On GFL Environmental

Several hedge funds have recently made changes to their positions in the business. FMR LLC grew its stake in shares of GFL Environmental by 2.7% during the 2nd quarter. FMR LLC now owns 16,252,767 shares of the company’s stock worth $418,858,000 after acquiring an additional 431,695 shares in the last quarter. Pictet Asset Management SA grew its stake in shares of GFL Environmental by 7.0% during the 2nd quarter. Pictet Asset Management SA now owns 6,809,773 shares of the company’s stock worth $175,089,000 after acquiring an additional 442,568 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of GFL Environmental by 7.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,670,175 shares of the company’s stock worth $168,688,000 after acquiring an additional 442,574 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of GFL Environmental by 21.3% during the 2nd quarter. Nordea Investment Management AB now owns 6,469,744 shares of the company’s stock worth $165,302,000 after acquiring an additional 1,136,837 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of GFL Environmental by 128.0% during the 3rd quarter. Royal Bank of Canada now owns 5,617,551 shares of the company’s stock worth $142,067,000 after acquiring an additional 3,153,276 shares in the last quarter. 63.25% of the stock is owned by institutional investors.

About GFL Environmental

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GFL Environmental Inc operates as a diversified environmental services company in Canada and the United States. The company offers non-hazardous solid waste management, infrastructure and soil remediation, and liquid waste management services. Its solid waste management business line includes the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste for municipal, residential, and commercial and industrial customers.