GFL Environmental (NYSE:GFL) Shares Up 3.1% – Still a Buy?

GFL Environmental Inc. (NYSE:GFL)’s stock price traded up 3.1% during trading on Wednesday . The company traded as high as $46.82 and last traded at $45.94. 2,926,708 shares were traded during trading, an increase of 143% from the average session volume of 1,206,862 shares. The stock had previously closed at $44.56.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Scotiabank lifted their target price on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a report on Friday, November 8th. UBS Group lifted their target price on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Truist Financial boosted their price objective on GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Raymond James boosted their price objective 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 investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, GFL Environmental currently has an average rating of “Moderate Buy” and an average target price of $45.80.

GFL Environmental Stock Performance

The business has a 50-day moving average price of $43.77 and a 200-day moving average price of $41.02. The firm has a market capitalization of $17.87 billion, a price-to-earnings ratio of -34.16 and a beta of 1.16. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. As a group, sell-side analysts forecast that GFL Environmental Inc. will post 0.59 earnings per share for the current year.

GFL Environmental Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Wednesday, October 16th. GFL Environmental’s payout ratio is -3.76%.

Institutional Investors Weigh In On GFL Environmental

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GFL. Continuum Advisory LLC grew its position in 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 purchasing an additional 254 shares during the period. Fifth Third Bancorp grew its position in GFL Environmental by 51.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after purchasing an additional 459 shares during the period. Spartan Fund Management Inc. acquired a new stake in GFL Environmental during the 3rd quarter worth about $60,000. Tobam grew its position in GFL Environmental by 139.5% during the 2nd quarter. Tobam now owns 1,751 shares of the company’s stock worth $68,000 after purchasing an additional 1,020 shares during the period. Finally, Avior Wealth Management LLC purchased a new stake in shares of GFL Environmental during the 3rd quarter worth about $82,000. 64.70% of the stock is owned by institutional investors and hedge funds.

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.