GFL Environmental Inc. (NYSE:GFL – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $35.71 and last traded at $35.7490, with a volume of 126662 shares changing hands. The stock had previously closed at $36.42.
Wall Street Analysts Forecast Growth
GFL has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut GFL Environmental from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $49.00 to $42.00 in a report on Tuesday, April 14th. Royal Bank Of Canada lifted their price objective on GFL Environmental from $59.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Citigroup cut their price objective on GFL Environmental from $55.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Weiss Ratings cut GFL Environmental from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.00.
GFL Environmental Trading Down 1.0%
GFL Environmental (NYSE:GFL – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned ($0.09) EPS. The firm’s revenue was up 5.4% on a year-over-year basis. On average, analysts predict that GFL Environmental Inc. will post 0.54 EPS for the current year.
GFL Environmental Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 13th were given a $0.0169 dividend. The ex-dividend date was Monday, April 13th. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.02. GFL Environmental’s dividend payout ratio is 21.88%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors boosted its position in shares of GFL Environmental by 17.6% in the 4th quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock worth $939,043,000 after purchasing an additional 3,267,936 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of GFL Environmental by 9.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,201,976 shares of the company’s stock worth $481,125,000 after purchasing an additional 977,344 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of GFL Environmental by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 11,156,675 shares of the company’s stock worth $479,255,000 after purchasing an additional 97,020 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in shares of GFL Environmental by 2.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 8,511,198 shares of the company’s stock worth $365,595,000 after purchasing an additional 185,169 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of GFL Environmental by 40.8% in the 4th quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock worth $290,083,000 after purchasing an additional 1,932,442 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors.
GFL Environmental Company Profile
GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.
Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.
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