GFL Environmental (NYSE:GFL) Sees Unusually-High Trading Volume – What’s Next?

GFL Environmental Inc. (NYSE:GFL) saw strong trading volume on Wednesday . 1,475,793 shares were traded during mid-day trading, an increase of 22% from the previous session’s volume of 1,207,021 shares.The stock last traded at $44.38 and had previously closed at $43.53.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Truist Financial increased their price target on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 8th. UBS Group increased 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. Scotiabank raised their price objective on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 8th. Finally, Raymond James raised their target price 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 research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, GFL Environmental presently has an average rating of “Moderate Buy” and an average price target of $45.80.

GFL Environmental Stock Performance

The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $17.38 billion, a PE ratio of -33.22 and a beta of 1.17. The stock’s fifty day simple moving average is $44.99 and its 200-day simple moving average is $41.81.

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

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be paid a $0.014 dividend. The ex-dividend date of this dividend is Monday, January 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. GFL Environmental’s payout ratio is -3.76%.

Institutional Investors Weigh In On GFL Environmental

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Continuum Advisory LLC lifted its stake in shares of GFL Environmental by 60.6% during the third quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock valued at $29,000 after acquiring an additional 254 shares during the period. Spartan Fund Management Inc. acquired a new position in GFL Environmental during the 3rd quarter worth approximately $60,000. Avior Wealth Management LLC bought a new position in GFL Environmental during the third quarter valued at $82,000. Andra AP fonden purchased a new stake in shares of GFL Environmental in the second quarter worth $90,000. Finally, US Bancorp DE grew its stake in shares of GFL Environmental by 51.5% during the third quarter. US Bancorp DE now owns 2,569 shares of the company’s stock valued at $102,000 after buying an additional 873 shares during the last quarter. 64.70% of the stock is currently 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.