Short Interest in GFL Environmental Inc. (NYSE:GFL) Drops By 7.5%

GFL Environmental Inc. (NYSE:GFLGet Free Report) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 6,060,000 shares, a drop of 7.5% from the February 29th total of 6,550,000 shares. Based on an average daily trading volume, of 1,190,000 shares, the days-to-cover ratio is currently 5.1 days. Approximately 2.7% of the shares of the company are short sold.

GFL Environmental Stock Performance

Shares of NYSE GFL opened at $34.50 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.25. GFL Environmental has a 12 month low of $26.87 and a 12 month high of $39.06. The company has a 50 day simple moving average of $35.01 and a two-hundred day simple moving average of $32.55. The stock has a market cap of $12.81 billion, a price-to-earnings ratio of -345.00 and a beta of 1.14.

GFL Environmental (NYSE:GFLGet Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.14). GFL Environmental had a net margin of 0.64% and a return on equity of 4.96%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. As a group, analysts predict that GFL Environmental will post 0.76 earnings per share for the current year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th were paid a $0.013 dividend. This represents a $0.05 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend was Tuesday, January 16th. GFL Environmental’s dividend payout ratio is currently -50.00%.

Hedge Funds Weigh In On GFL Environmental

Several large investors have recently made changes to their positions in the company. Signaturefd LLC lifted its stake in shares of GFL Environmental by 48.9% in the 4th quarter. Signaturefd LLC now owns 1,178 shares of the company’s stock valued at $41,000 after purchasing an additional 387 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of GFL Environmental by 2.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 20,228 shares of the company’s stock valued at $647,000 after purchasing an additional 404 shares during the period. PNC Financial Services Group Inc. raised its position in GFL Environmental by 70.1% during the second quarter. PNC Financial Services Group Inc. now owns 1,060 shares of the company’s stock worth $41,000 after acquiring an additional 437 shares during the period. Oliver Lagore Vanvalin Investment Group raised its position in GFL Environmental by 60.1% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 1,209 shares of the company’s stock worth $42,000 after acquiring an additional 454 shares during the period. Finally, UBS Group AG raised its position in GFL Environmental by 9.7% during the second quarter. UBS Group AG now owns 5,846 shares of the company’s stock worth $151,000 after acquiring an additional 519 shares during the period. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GFL has been the topic of several research reports. BMO Capital Markets raised their target price on GFL Environmental from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. TheStreet raised GFL Environmental from a “d+” rating to a “c” rating in a research report on Tuesday, February 20th. UBS Group initiated coverage on GFL Environmental in a research report on Wednesday, January 31st. They issued a “buy” rating and a $44.00 target price on the stock. Bank of America cut GFL Environmental from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research report on Friday, January 19th. Finally, Raymond James lifted their price objective on GFL Environmental from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, December 4th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.58.

Read Our Latest Report on GFL Environmental

About GFL Environmental

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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.

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