GFL Environmental Inc. (NYSE:GFL) Short Interest Update

GFL Environmental Inc. (NYSE:GFL) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 8,050,000 shares, an increase of 11.8% from the June 30th total of 7,200,000 shares. Based on an average daily trading volume, of 1,320,000 shares, the days-to-cover ratio is presently 6.1 days. Currently, 3.4% of the company’s stock are short sold.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Royal Bank of Canada started coverage on shares of GFL Environmental in a report on Monday, April 8th. They issued an “outperform” rating and a $46.00 price objective on the stock. TD Cowen lifted their price target on shares of GFL Environmental from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Raymond James increased their price objective on shares of GFL Environmental from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, BMO Capital Markets downgraded GFL Environmental from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $43.00 to $42.00 in a research report on Tuesday, July 9th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, GFL Environmental presently has an average rating of “Moderate Buy” and a consensus price target of $42.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GFL. Raymond James & Associates raised its stake in GFL Environmental by 64.4% in the 4th quarter. Raymond James & Associates now owns 652,701 shares of the company’s stock valued at $22,525,000 after acquiring an additional 255,793 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of GFL Environmental by 5.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 13,322 shares of the company’s stock valued at $460,000 after purchasing an additional 690 shares during the period. Addenda Capital Inc. lifted its stake in shares of GFL Environmental by 24.5% during the 4th quarter. Addenda Capital Inc. now owns 305,585 shares of the company’s stock worth $10,546,000 after buying an additional 60,060 shares during the last quarter. Capital Insight Partners LLC boosted its holdings in shares of GFL Environmental by 10.3% during the 4th quarter. Capital Insight Partners LLC now owns 25,368 shares of the company’s stock worth $875,000 after buying an additional 2,371 shares during the period. Finally, Compound Global Advisors LLC bought a new stake in shares of GFL Environmental during the 4th quarter worth about $15,232,000. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Stock Performance

Shares of GFL stock traded up $0.31 on Monday, reaching $38.20. The stock had a trading volume of 790,732 shares, compared to its average volume of 1,226,022. GFL Environmental has a 12 month low of $26.87 and a 12 month high of $40.27. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $14.38 billion, a price-to-earnings ratio of 59.20 and a beta of 1.15. The firm’s 50-day moving average is $37.04 and its two-hundred day moving average is $35.15.

GFL Environmental Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be paid a $0.014 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $0.06 annualized dividend and a yield of 0.15%.

About GFL Environmental

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.