GFL Environmental (NYSE:GFL) Sees Large Volume Increase - Should You Buy?

GFL Environmental Inc. (NYSE:GFL - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 1,475,793 shares traded hands during 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.

Analyst Ratings Changes

Several analysts have commented on GFL shares. Raymond James boosted their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Truist Financial lifted their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Scotiabank increased 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. Finally, UBS Group boosted their target price on GFL Environmental from $47.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $45.80.

GFL Environmental Stock Performance

The business has a 50 day moving average of $44.87 and a 200-day moving average of $41.77. The company has a market capitalization of $17.60 billion, a P/E ratio of -33.65 and a beta of 1.17. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58.

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

GFL Environmental Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be given a $0.014 dividend. The ex-dividend date of this dividend is Monday, January 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. GFL Environmental's dividend payout ratio (DPR) is presently -3.76%.

Hedge Funds Weigh In On GFL Environmental

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GFL. Seven Grand Managers LLC bought a new position in GFL Environmental in the third quarter valued at $1,994,000. Harbor Capital Advisors Inc. boosted its holdings in shares of GFL Environmental by 115.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 49,566 shares of the company's stock worth $1,977,000 after purchasing an additional 26,542 shares in the last quarter. FMR LLC increased its position in shares of GFL Environmental by 7.4% during the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company's stock valued at $1,003,591,000 after purchasing an additional 1,728,598 shares during the last quarter. Copeland Capital Management LLC raised its holdings in shares of GFL Environmental by 2.2% during the 3rd quarter. Copeland Capital Management LLC now owns 921,377 shares of the company's stock valued at $36,745,000 after buying an additional 19,675 shares in the last quarter. Finally, Forsta AP Fonden purchased a new position in shares of GFL Environmental during the 3rd quarter valued at about $1,761,000. 64.70% of the stock is currently owned by hedge funds and other 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.