GFL Environmental (NYSE:GFL) Hits New 12-Month High – What’s Next?

GFL Environmental Inc. (NYSE:GFL) reached a new 52-week high during trading on Friday . The stock traded as high as $47.16 and last traded at $47.10, with a volume of 529165 shares changing hands. The stock had previously closed at $46.26.

Analyst Ratings Changes

GFL has been the subject of several recent research reports. Raymond James lifted their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Scotiabank boosted their price target on shares of GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada boosted their price objective on shares of GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. UBS Group boosted their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Truist Financial boosted their price objective on shares of GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $45.80.

GFL Environmental Stock Performance

The business’s fifty day moving average price is $42.19 and its 200-day moving average price is $39.59. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market cap of $18.53 billion, a PE ratio of -34.78 and a beta of 1.15.

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

GFL Environmental Dividend Announcement

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

Hedge Funds Weigh In On GFL Environmental

A number of hedge funds have recently modified their holdings of GFL. Silvercrest Asset Management Group LLC lifted its stake in shares of GFL Environmental by 31.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 13,123 shares of the company’s stock valued at $453,000 after buying an additional 3,166 shares in the last quarter. Tidal Investments LLC lifted its position in shares of GFL Environmental by 68.6% in the first quarter. Tidal Investments LLC now owns 18,133 shares of the company’s stock valued at $626,000 after acquiring an additional 7,377 shares in the last quarter. Cape Investment Advisory Inc. lifted its position in shares of GFL Environmental by 325.0% in the first quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock valued at $44,000 after acquiring an additional 975 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of GFL Environmental by 292.5% in the second quarter. Harbor Capital Advisors Inc. now owns 23,024 shares of the company’s stock valued at $896,000 after acquiring an additional 17,158 shares in the last quarter. Finally, Threadgill Financial LLC lifted its position in shares of GFL Environmental by 17.1% in the second quarter. Threadgill Financial LLC now owns 11,841 shares of the company’s stock valued at $461,000 after acquiring an additional 1,726 shares in the last quarter. 64.70% of the stock is currently 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.