GFL Environmental (NYSE:GFL) Reaches New 52-Week High at $42.22

GFL Environmental Inc. (NYSE:GFL - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $42.22 and last traded at $41.99, with a volume of 1601 shares trading hands. The stock had previously closed at $42.02.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GFL. Raymond James lifted their price target on shares of GFL Environmental from $43.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, July 22nd. BMO Capital Markets downgraded GFL Environmental from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $43.00 to $42.00 in a report on Tuesday, July 9th. TD Cowen boosted their target price on GFL Environmental from $42.00 to $43.00 and gave the company a "buy" rating in a research note on Monday, May 6th. Finally, Royal Bank of Canada lifted their price objective on shares of GFL Environmental from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $42.64.

GFL Environmental Stock Performance

The company has a market capitalization of $15.91 billion, a price-to-earnings ratio of 40.24 and a beta of 1.16. The stock has a 50-day moving average price of $39.23 and a 200-day moving average price of $35.96. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.84 and a quick ratio of 0.84.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.51 billion. GFL Environmental had a positive return on equity of 3.26% and a negative net margin of 8.78%. As a group, analysts forecast that GFL Environmental Inc. will post 0.71 earnings per share for the current year.

GFL Environmental Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th were issued a dividend of $0.014 per share. The ex-dividend date was Monday, July 15th. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. GFL Environmental's dividend payout ratio (DPR) is presently 4.76%.

Institutional Investors Weigh In On GFL Environmental

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harbert Fund Advisors Inc. bought a new position in GFL Environmental during the fourth quarter worth $1,329,000. Vanguard Group Inc. raised its holdings in shares of GFL Environmental by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 7,231,470 shares of the company's stock valued at $249,558,000 after purchasing an additional 77,156 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of GFL Environmental by 13.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,520,450 shares of the company's stock valued at $87,225,000 after purchasing an additional 294,432 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in GFL Environmental by 27.6% during the fourth quarter. 1832 Asset Management L.P. now owns 804,540 shares of the company's stock worth $27,765,000 after purchasing an additional 173,800 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in GFL Environmental by 33.8% in the 1st quarter. Toronto Dominion Bank now owns 74,152 shares of the company's stock worth $2,558,000 after purchasing an additional 18,742 shares in the last quarter. Institutional investors own 64.70% of the company's stock.

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.