GFL Environmental Inc. (NYSE:GFL) Short Interest Update

GFL Environmental Inc. (NYSE:GFL) saw a significant decline in short interest in November. As of November 15th, there was short interest totalling 7,700,000 shares, a decline of 7.6% from the October 31st total of 8,330,000 shares. Currently, 3.0% of the company’s stock are short sold. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is presently 6.4 days.

Hedge Funds Weigh In On GFL Environmental

A number of hedge funds have recently bought and sold shares of the company. Continuum Advisory LLC grew its holdings in GFL Environmental by 60.6% during the third quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after buying an additional 254 shares in the last quarter. Fifth Third Bancorp grew its stake in GFL Environmental by 51.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock valued at $53,000 after purchasing an additional 459 shares during the period. Spartan Fund Management Inc. purchased a new stake in shares of GFL Environmental during the 3rd quarter valued at $60,000. Tobam lifted its stake in GFL Environmental by 139.5% in the second quarter. Tobam now owns 1,751 shares of the company’s stock valued at $68,000 after purchasing an additional 1,020 shares during the last quarter. Finally, Avior Wealth Management LLC purchased a new stake in GFL Environmental in the third quarter worth $82,000. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Stock Performance

Shares of GFL Environmental stock traded up $0.28 during trading on Wednesday, reaching $46.95. The company’s stock had a trading volume of 362,235 shares, compared to its average volume of 1,203,649. 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 business’s 50-day moving average price is $42.62 and its 200-day moving average price is $40.02. GFL Environmental has a 52 week low of $28.21 and a 52 week high of $47.43. The firm has a market cap of $18.47 billion, a PE ratio of -35.09 and a beta of 1.16.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. Equities analysts forecast that GFL Environmental will post 0.59 earnings per share for the current year.

GFL Environmental Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price objective 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. Raymond James lifted their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Scotiabank increased 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. Finally, UBS Group lifted their price target on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $45.80.

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.