GFL Environmental (NYSE:GFL) Reaches New 52-Week High – Here’s What Happened

GFL Environmental Inc. (NYSE:GFL) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $49.42 and last traded at $49.20, with a volume of 40096 shares changing hands. The stock had previously closed at $48.95.

Wall Street Analyst Weigh In

GFL has been the subject of several recent analyst reports. Scotiabank raised their target price on GFL Environmental from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 8th. Truist Financial boosted their price objective on shares of GFL Environmental from $54.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, April 2nd. Citigroup lowered their target price on shares of GFL Environmental from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $53.00 price target on shares of GFL Environmental in a research note on Monday, February 24th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of GFL Environmental in a research report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, GFL Environmental presently has an average rating of “Moderate Buy” and a consensus price target of $51.25.

GFL Environmental Stock Performance

The stock’s fifty day simple moving average is $46.56 and its 200-day simple moving average is $44.57. The company has a market capitalization of $19.38 billion, a price-to-earnings ratio of -37.02 and a beta of 1.09. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th will be given a dividend of $0.0154 per share. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. GFL Environmental’s payout ratio is currently -3.87%.

Institutional Trading of GFL Environmental

Hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp raised its holdings in shares of GFL Environmental by 8.2% in the 3rd quarter. Stifel Financial Corp now owns 86,644 shares of the company’s stock valued at $3,455,000 after purchasing an additional 6,583 shares in the last quarter. Wolverine Trading LLC boosted its position in shares of GFL Environmental by 89.2% during the 3rd quarter. Wolverine Trading LLC now owns 5,109 shares of the company’s stock worth $201,000 after acquiring an additional 2,409 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of GFL Environmental in the 3rd quarter valued at about $627,000. Geode Capital Management LLC lifted its stake in GFL Environmental by 7.7% during the third quarter. Geode Capital Management LLC now owns 918,706 shares of the company’s stock worth $36,296,000 after purchasing an additional 65,449 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in GFL Environmental in the third quarter valued at approximately $174,000. Institutional investors and hedge funds 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.