GFL Environmental (NYSE:GFL) Sees Large Volume Increase

Shares of GFL Environmental Inc. (NYSE:GFL) saw unusually-strong trading volume on Thursday . Approximately 133,975 shares changed hands during trading, a decline of 86% from the previous session’s volume of 985,746 shares.The stock last traded at $31.92 and had previously closed at $31.80.

Several equities analysts have recently issued reports on the company. Royal Bank of Canada boosted their target price on GFL Environmental from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, May 7th. Raymond James upped their price objective on shares of GFL Environmental from $35.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, April 12th. Finally, The Goldman Sachs Group upgraded GFL Environmental from a “neutral” rating to a “buy” rating and set a $38.50 target price for the company in a research note on Monday, May 31st. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.83.

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.18. The firm has a market cap of $10.44 billion, a P/E ratio of -15.49 and a beta of 1.32. The business’s 50-day moving average is $32.01.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Wednesday, May 5th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.23. GFL Environmental had a positive return on equity of 1.50% and a negative net margin of 21.35%. The firm had revenue of $937.05 million during the quarter, compared to analyst estimates of $922.25 million. Sell-side analysts expect that GFL Environmental Inc. will post -0.07 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Stockholders of record on Monday, July 19th will be paid a $0.011 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Friday, July 16th. GFL Environmental’s dividend payout ratio (DPR) is currently 15.38%.

Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new position in GFL Environmental during the fourth quarter valued at approximately $4,028,000. Citigroup Inc. bought a new position in GFL Environmental in the 4th quarter worth $572,000. Credit Suisse AG bought a new stake in GFL Environmental during the fourth quarter valued at about $5,508,000. Hood River Capital Management LLC purchased a new position in shares of GFL Environmental in the fourth quarter valued at about $822,000. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in shares of GFL Environmental by 1,286.2% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 143,088 shares of the company’s stock worth $4,176,000 after acquiring an additional 132,766 shares during the period. Institutional investors own 57.65% of the company’s stock.

GFL Environmental Company Profile (NYSE:GFL)

GFL Environmental Inc operates as a diversified environmental services company in Canada and the United States. The company offers non-hazardous solid waste management, infrastructure and soil remediation, and liquid waste management services. Its solid waste management business line includes the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste for municipal, residential, and commercial and industrial customers.

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