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

GFL Environmental Inc. (NYSE:GFL) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 7,700,000 shares, a drop of 7.6% from the October 31st total of 8,330,000 shares. Based on an average trading volume of 1,200,000 shares, the days-to-cover ratio is presently 6.4 days. Currently, 3.0% of the company’s stock are short sold.

GFL Environmental Price Performance

GFL Environmental stock traded down $0.44 during midday trading on Monday, reaching $46.66. The company’s stock had a trading volume of 863,893 shares, compared to its average volume of 1,209,945. The firm has a market capitalization of $18.36 billion, a PE ratio of -35.08 and a beta of 1.15. GFL Environmental has a fifty-two week low of $28.21 and a fifty-two week high of $47.43. The stock’s 50 day simple moving average is $42.34 and its 200 day simple moving average is $39.81. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. On average, equities research analysts forecast that GFL Environmental will post 0.59 earnings per share for the current year.

GFL Environmental Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental’s dividend payout ratio is currently -4.51%.

Analyst Ratings Changes

GFL has been the subject of a number of recent research reports. UBS Group increased their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Scotiabank boosted their price target on GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th. Truist Financial lifted their target price on GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Raymond James upped their price target on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.80.

Institutional Investors Weigh In On GFL Environmental

Several institutional investors and hedge funds have recently made changes to their positions in GFL. Tidal Investments LLC raised its position in GFL Environmental by 68.6% during the first quarter. Tidal Investments LLC now owns 18,133 shares of the company’s stock worth $626,000 after acquiring an additional 7,377 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in GFL Environmental by 292.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 23,024 shares of the company’s stock valued at $896,000 after buying an additional 17,158 shares in the last quarter. Threadgill Financial LLC grew its holdings in GFL Environmental by 17.1% during the 2nd quarter. Threadgill Financial LLC now owns 11,841 shares of the company’s stock valued at $461,000 after buying an additional 1,726 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in GFL Environmental by 43.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,732 shares of the company’s stock worth $379,000 after buying an additional 2,937 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of GFL Environmental by 51.1% in the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after acquiring an additional 459 shares during the last quarter. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

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.