GFL Environmental (NYSE:GFL) Sees Strong Trading Volume

GFL Environmental Inc. (NYSE:GFL) saw unusually-strong trading volume on Thursday . Approximately 1,070,364 shares changed hands during trading, a decline of 12% from the previous session’s volume of 1,216,423 shares.The stock last traded at $39.56 and had previously closed at $40.77.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GFL shares. BMO Capital Markets cut GFL Environmental from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $43.00 to $42.00 in a research report on Tuesday, July 9th. Raymond James increased their target price on GFL Environmental from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Royal Bank of Canada increased their target price on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, GFL Environmental presently has an average rating of “Moderate Buy” and a consensus target price of $42.64.

GFL Environmental Stock Performance

The business has a 50 day moving average of $40.16 and a 200 day moving average of $36.55. The company has a market capitalization of $15.15 billion, a P/E ratio of 83.04 and a beta of 1.16. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.45.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. GFL Environmental had a positive return on equity of 3.32% and a negative net margin of 8.78%. On average, sell-side analysts predict that GFL Environmental Inc. will post 0.62 earnings per share for the current year.

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th were paid a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, July 15th.

Institutional Investors Weigh In On GFL Environmental

Several institutional investors have recently modified their holdings of the stock. Truist Financial Corp lifted its stake in shares of GFL Environmental by 1.8% in the 2nd quarter. Truist Financial Corp now owns 15,463 shares of the company’s stock valued at $602,000 after purchasing an additional 268 shares during the last quarter. Signaturefd LLC lifted its stake in shares of GFL Environmental by 23.5% during the 2nd quarter. Signaturefd LLC now owns 2,149 shares of the company’s stock worth $84,000 after acquiring an additional 409 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of 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 acquiring an additional 459 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of GFL Environmental by 3.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,597 shares of the company’s stock worth $838,000 after acquiring an additional 664 shares during the last quarter. Finally, Tobam bought a new stake in shares of GFL Environmental during the 1st quarter worth approximately $25,000. 64.70% of the stock is owned by institutional investors.

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.