GFL Environmental (NYSE:GFL) Sees Unusually-High Trading Volume – Still a Buy?

GFL Environmental Inc. (NYSE:GFL) shares saw unusually-strong trading volume on Wednesday . Approximately 1,922,513 shares were traded during trading, an increase of 2% from the previous session’s volume of 1,882,431 shares.The stock last traded at $47.84 and had previously closed at $48.62.

Analysts Set New Price Targets

Several research firms have recently issued reports on GFL. National Bankshares restated an “outperform” rating on shares of GFL Environmental in a research report on Tuesday, March 11th. Citigroup assumed coverage on GFL Environmental in a research report on Monday, January 27th. They set a “buy” rating and a $53.00 target price for the company. Stifel Nicolaus upgraded shares of GFL Environmental from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $53.00 target price on shares of GFL Environmental in a report on Monday, February 24th. Finally, Scotiabank increased their price target on GFL Environmental from $50.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, GFL Environmental currently has an average rating of “Moderate Buy” and an average price target of $49.63.

GFL Environmental Price Performance

The stock has a market cap of $19.02 billion, a price-to-earnings ratio of -36.38 and a beta of 1.16. The company has a 50 day simple moving average of $45.24 and a 200-day simple moving average of $43.79. 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 earnings results on Monday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.98 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. Research analysts expect that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 13th were issued a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Monday, January 13th. GFL Environmental’s payout ratio is -3.23%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GFL. Blue Trust Inc. lifted its stake in GFL Environmental by 124.9% in the fourth quarter. Blue Trust Inc. now owns 551 shares of the company’s stock valued at $25,000 after acquiring an additional 306 shares during the last quarter. Berbice Capital Management LLC bought a new position in GFL Environmental during the fourth quarter worth about $27,000. Continuum Advisory LLC boosted its stake in shares of GFL Environmental by 60.6% during the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after acquiring an additional 254 shares during the period. Natixis bought a new position in shares of GFL Environmental during the 4th quarter worth approximately $49,000. Finally, SRH Advisors LLC acquired a new position in shares of GFL Environmental during the 4th quarter worth approximately $89,000. 64.70% of the stock is owned by institutional investors and hedge funds.

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.