GFL Environmental (NYSE:GFL) Sees Strong Trading Volume

GFL Environmental Inc. (NYSE:GFL - Get Free Report) shares saw unusually-high trading volume on Thursday . Approximately 1,070,364 shares were traded during mid-day trading, a decline of 12% from the previous session's volume of 1,216,423 shares.The stock last traded at $39.56 and had previously closed at $40.77.

Wall Street Analyst Weigh In

GFL has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of GFL Environmental from $46.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. BMO Capital Markets cut shares of GFL Environmental from an "outperform" rating to a "market perform" rating and cut their price target for the company from $43.00 to $42.00 in a research note on Tuesday, July 9th. Finally, Raymond James increased 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. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.64.

GFL Environmental Trading Down 1.2 %

The firm has a market capitalization of $15.16 billion, a P/E ratio of 83.04 and a beta of 1.16. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.45. The firm has a 50 day moving average of $40.18 and a 200-day moving average of $36.57.

GFL Environmental (NYSE:GFL - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. GFL Environmental had a positive return on equity of 3.32% and a negative net margin of 8.78%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. On average, equities research analysts predict that GFL Environmental Inc. will post 0.62 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th were paid a dividend of $0.014 per share. The ex-dividend date was Monday, July 15th. This represents a $0.06 dividend on an annualized basis and a yield of 0.14%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GFL. Capital Research Global Investors increased its stake in shares of GFL Environmental by 17.4% in the 1st quarter. Capital Research Global Investors now owns 19,851,514 shares of the company's stock valued at $684,877,000 after purchasing an additional 2,935,811 shares during the last quarter. Norges Bank bought a new position in GFL Environmental in the fourth quarter valued at about $85,441,000. Millennium Management LLC grew its position in GFL Environmental by 40.0% in the second quarter. Millennium Management LLC now owns 5,649,169 shares of the company's stock valued at $219,922,000 after acquiring an additional 1,614,182 shares during the last quarter. Findlay Park Partners LLP acquired a new position in GFL Environmental during the first quarter worth about $35,686,000. Finally, Progeny 3 Inc. boosted its stake in shares of GFL Environmental by 516.3% in the 2nd quarter. Progeny 3 Inc. now owns 893,300 shares of the company's stock valued at $34,776,000 after purchasing an additional 748,350 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

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.