GFL Environmental (NYSE:GFL) Sees Unusually-High Trading Volume – Time to Buy?

GFL Environmental Inc. (NYSE:GFL) shares saw unusually-strong trading volume on Wednesday . Approximately 1,475,793 shares changed hands during mid-day 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.

Wall Street Analyst Weigh In

GFL has been the topic of a number of research reports. UBS Group increased their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Scotiabank boosted their price objective on shares of GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Truist Financial upped their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Raymond James increased their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.80.

GFL Environmental Stock Down 1.3 %

The stock has a 50 day moving average price of $44.99 and a 200 day moving average price of $41.81. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $17.38 billion, a price-to-earnings ratio of -33.22 and a beta of 1.17.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, analysts forecast that GFL Environmental Inc. will post 0.59 EPS for the current year.

GFL Environmental Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be issued 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 dividend payout ratio (DPR) is -3.76%.

Hedge Funds Weigh In On GFL Environmental

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fred Alger Management LLC lifted its stake in shares of GFL Environmental by 64.3% in the 3rd quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock valued at $407,619,000 after purchasing an additional 3,999,363 shares during the period. Soros Fund Management LLC increased its position in GFL Environmental by 487.0% during the third quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company’s stock valued at $125,874,000 after acquiring an additional 2,618,589 shares during the last quarter. FMR LLC increased its position in GFL Environmental by 7.4% during the third quarter. FMR LLC now owns 25,158,657 shares of the company’s stock valued at $1,003,591,000 after acquiring an additional 1,728,598 shares during the last quarter. Millennium Management LLC grew its holdings in GFL Environmental by 40.0% during the second quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock valued at $219,922,000 after purchasing an additional 1,614,182 shares during the period. Finally, Brown Brothers Harriman & Co. grew its holdings in GFL Environmental by 162.0% during the third quarter. Brown Brothers Harriman & Co. now owns 1,271,161 shares of the company’s stock valued at $50,694,000 after purchasing an additional 786,044 shares during the period. 64.70% of the stock is currently owned by institutional investors.

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.