GFL Environmental (NYSE:GFL) Shares Gap Up – Still a Buy?

GFL Environmental Inc. (NYSE:GFL)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $44.02, but opened at $45.62. GFL Environmental shares last traded at $44.55, with a volume of 357,460 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GFL. Raymond James lifted their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. UBS Group upped their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Truist Financial upped their price objective on GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Scotiabank lifted their target price on GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, GFL Environmental has a consensus rating of “Moderate Buy” and an average target price of $45.80.

GFL Environmental Stock Down 0.2 %

The firm has a 50 day simple moving average of $44.83 and a 200-day simple moving average of $41.73. The stock has a market cap of $17.29 billion, a P/E ratio of -33.04 and a beta of 1.17. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27.

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

GFL Environmental Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its stake in shares of GFL Environmental by 6.3% in the 3rd quarter. Tidal Investments LLC now owns 20,853 shares of the company’s stock valued at $832,000 after purchasing an additional 1,238 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in GFL Environmental during the 3rd quarter worth approximately $174,000. TCW Group Inc. grew its holdings in shares of GFL Environmental by 24.6% during the third quarter. TCW Group Inc. now owns 21,598 shares of the company’s stock worth $861,000 after purchasing an additional 4,270 shares during the last quarter. Toronto Dominion Bank increased its holdings in GFL Environmental by 20.1% in the third quarter. Toronto Dominion Bank now owns 104,578 shares of the company’s stock valued at $4,171,000 after purchasing an additional 17,493 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of GFL Environmental by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 918,706 shares of the company’s stock worth $36,296,000 after purchasing an additional 65,449 shares during the period. 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.