Truist Financial Forecasts Strong Price Appreciation for GFL Environmental (NYSE:GFL) Stock

GFL Environmental (NYSE:GFL) had its target price upped by Truist Financial from $46.00 to $54.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

GFL has been the subject of a number of other reports. Raymond James boosted their target price 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. Royal Bank of Canada increased their price objective on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Scotiabank lifted their target price on GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research note on Friday. Finally, UBS Group increased their price target on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.80.

GFL Environmental Stock Performance

Shares of NYSE:GFL traded down $0.38 during trading on Friday, hitting $45.12. 1,954,631 shares of the company traded hands, compared to its average volume of 1,052,493. 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 business’s fifty day moving average is $40.82 and its 200-day moving average is $38.35. The stock has a market capitalization of $16.99 billion, a price-to-earnings ratio of -33.92 and a beta of 1.15. GFL Environmental has a one year low of $26.87 and a one year high of $46.48.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a positive return on equity of 3.46% and a negative net margin of 7.54%. As a group, equities analysts predict that GFL Environmental will post 0.61 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a dividend of $0.014 per share. The ex-dividend date was Wednesday, October 16th. This represents a $0.06 annualized dividend and a yield of 0.12%. GFL Environmental’s dividend payout ratio is currently -4.51%.

Hedge Funds Weigh In On GFL Environmental

Several large investors have recently made changes to their positions in GFL. Capital Research Global Investors raised its holdings 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 worth $684,877,000 after purchasing an additional 2,935,811 shares in the last quarter. Vanguard Group Inc. grew its position in GFL Environmental by 9.4% in the first quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company’s stock worth $273,053,000 after buying an additional 683,120 shares during the last quarter. Fred Alger Management LLC increased its holdings in shares of GFL Environmental by 7.1% in the second quarter. Fred Alger Management LLC now owns 6,221,767 shares of the company’s stock valued at $242,213,000 after buying an additional 411,128 shares in the last quarter. Millennium Management LLC lifted its position in shares of GFL Environmental by 40.0% during the 2nd 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. Finally, Maverick Capital Ltd. boosted its stake in shares of GFL Environmental by 22.1% during the 2nd quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company’s stock worth $127,911,000 after acquiring an additional 595,259 shares in the last quarter. Institutional investors own 64.70% of the company’s stock.

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.