GFL Environmental (NYSE:GFL) Reaches New 12-Month High – Here’s What Happened

GFL Environmental Inc. (NYSE:GFL)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $49.42 and last traded at $49.20, with a volume of 40096 shares changing hands. The stock had previously closed at $48.95.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GFL. UBS Group lifted their target price on GFL Environmental from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, April 4th. Citigroup lowered their price objective on GFL Environmental from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $53.00 target price on shares of GFL Environmental in a research note on Monday, February 24th. Raymond James set a $56.00 price target on shares of GFL Environmental and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Stifel Nicolaus upgraded shares of GFL Environmental from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, GFL Environmental presently has an average rating of “Moderate Buy” and an average target price of $52.00.

GFL Environmental Stock Performance

The company has a fifty day moving average price of $46.68 and a two-hundred day moving average price of $44.63. The firm has a market cap of $19.12 billion, a price-to-earnings ratio of -36.55 and a beta of 1.09. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.98 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 expect that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th will be issued a $0.0154 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. This is a boost from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s dividend payout ratio is currently -3.87%.

Institutional Investors Weigh In On GFL Environmental

Several large investors have recently modified their holdings of GFL. Blue Trust Inc. lifted its holdings in shares of GFL Environmental by 124.9% during the fourth quarter. Blue Trust Inc. now owns 551 shares of the company’s stock valued at $25,000 after purchasing an additional 306 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in GFL Environmental during the 4th quarter worth about $27,000. Natixis purchased a new stake in GFL Environmental during the fourth quarter valued at about $49,000. Harbor Investment Advisory LLC acquired a new position in shares of GFL Environmental in the first quarter worth about $53,000. Finally, Versant Capital Management Inc increased its position in shares of GFL Environmental by 3,470.3% in the first quarter. Versant Capital Management Inc now owns 1,321 shares of the company’s stock worth $64,000 after acquiring an additional 1,284 shares in the last quarter. 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.