GFL Environmental (NYSE:GFL) Sets New 12-Month Low – Here’s What Happened

GFL Environmental Inc. (NYSE:GFL)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $40.74 and last traded at $40.7690, with a volume of 1086172 shares. The stock had previously closed at $42.51.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays increased their target price on GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Royal Bank Of Canada upped their price target on GFL Environmental from $59.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Wolfe Research began coverage on GFL Environmental in a research report on Friday, March 13th. They issued an “outperform” rating for the company. Weiss Ratings downgraded shares of GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of GFL Environmental from $46.75 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.67.

GFL Environmental Trading Down 4.1%

The firm has a market capitalization of $14.59 billion, a price-to-earnings ratio of 6.00, a P/E/G ratio of 3.30 and a beta of 0.86. The business has a 50-day moving average of $43.25 and a two-hundred day moving average of $44.49. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.05.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.14 by $0.12. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the firm posted ($0.58) EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Research analysts predict that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were given a dividend of $0.0154 per share. The ex-dividend date was Tuesday, January 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.2%. GFL Environmental’s payout ratio is currently 0.88%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. boosted its stake in GFL Environmental by 2.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 40,688 shares of the company’s stock worth $1,748,000 after buying an additional 784 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of GFL Environmental by 542.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,271 shares of the company’s stock valued at $269,000 after buying an additional 5,295 shares in the last quarter. Tobam lifted its holdings in shares of GFL Environmental by 10.5% during the 4th quarter. Tobam now owns 3,079 shares of the company’s stock worth $132,000 after acquiring an additional 293 shares during the period. Skyview Financial Group LLC bought a new position in shares of GFL Environmental during the 4th quarter worth about $490,000. Finally, Mackenzie Financial Corp boosted its position in shares of GFL Environmental by 82.0% during the 4th quarter. Mackenzie Financial Corp now owns 563,108 shares of the company’s stock valued at $24,545,000 after acquiring an additional 253,764 shares in the last quarter. 64.70% of the stock is 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.