GFL Environmental Inc. (NYSE:GFL – Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $41.07, but opened at $44.05. GFL Environmental shares last traded at $43.2810, with a volume of 1,442,188 shares.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Zacks Research lowered shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. TD Cowen restated a “buy” rating and set a $65.00 target price on shares of GFL Environmental in a research report on Friday, September 11th. JPMorgan Chase & Co. raised their target price on shares of GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th. Citigroup set a $51.00 target price on shares of GFL Environmental and gave the company a “buy” rating in a research note on Monday, July 6th. Finally, Scotiabank reiterated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, September 2nd. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.60.
Read Our Latest Analysis on GFL Environmental
GFL Environmental Trading Up 5.1%
GFL Environmental (NYSE:GFL – Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. The firm’s revenue was up 16.3% compared to the same quarter last year. On average, equities research analysts expect that GFL Environmental Inc. will post 0.57 EPS for the current fiscal year.
GFL Environmental Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 13th were given a dividend of $0.0169 per share. The ex-dividend date was Monday, July 13th. This represents a $0.07 annualized dividend and a yield of 0.2%. GFL Environmental’s dividend payout ratio (DPR) is -13.21%.
Institutional Trading of GFL Environmental
A number of large investors have recently made changes to their positions in GFL. Norges Bank purchased a new stake in shares of GFL Environmental in the fourth quarter valued at $149,466,000. Capital Research Global Investors boosted its stake in shares of GFL Environmental by 17.6% during 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 period. CIBC Asset Management Inc grew its holdings in GFL Environmental by 25.8% during the 4th quarter. CIBC Asset Management Inc now owns 5,101,264 shares of the company’s stock valued at $219,360,000 after purchasing an additional 1,047,180 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in GFL Environmental during the 4th quarter valued at about $44,299,000. Finally, Alberta Investment Management Corp purchased a new stake in GFL Environmental in the 4th quarter worth about $33,077,000. 64.70% of the stock is currently owned by institutional investors.
GFL Environmental Company Profile
GFL Environmental Inc is an environmental services company that provides waste management and infrastructure services to residential, commercial, industrial, municipal and institutional customers. Its operations include the collection, transfer, processing, recycling and disposal of solid waste, as well as the management of organic materials and other waste streams.
The company also provides environmental and infrastructure-related services, including soil remediation, dewatering, excavation, demolition and other site services.
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