GFL Environmental Inc. (NYSE:GFL) Short Interest Down 7.6% in November

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

GFL Environmental Price Performance

NYSE:GFL traded down $0.03 during trading hours on Wednesday, reaching $46.64. 190,768 shares of the company traded hands, compared to its average volume of 1,202,810. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The firm’s 50-day moving average is $42.62 and its 200-day moving average is $40.02. The stock has a market cap of $18.35 billion, a P/E ratio of -35.09 and a beta of 1.16. GFL Environmental has a 1-year low of $28.21 and a 1-year high of $47.43.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $1.48 billion during 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%. Equities research analysts expect that GFL Environmental will post 0.59 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GFL. FMR LLC boosted its position in shares of GFL Environmental by 7.4% in the third quarter. FMR LLC now owns 25,158,657 shares of the company’s stock worth $1,003,591,000 after acquiring an additional 1,728,598 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of GFL Environmental by 2.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,817,626 shares of the company’s stock valued at $471,287,000 after purchasing an additional 257,486 shares during the last quarter. Fred Alger Management LLC grew its stake in shares of GFL Environmental by 64.3% during the 3rd quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock valued at $407,619,000 after buying an additional 3,999,363 shares during the period. Millennium Management LLC grew its stake in shares of GFL Environmental by 40.0% during the 2nd quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock valued at $219,922,000 after buying an additional 1,614,182 shares during the period. Finally, Maverick Capital Ltd. increased its holdings in shares of GFL Environmental by 11.3% during the 3rd quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock worth $145,889,000 after buying an additional 372,534 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

Analyst Ratings Changes

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

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.