GFL Environmental Inc. (NYSE:GFL) Shares Will Pay Quarterly Dividend of $0.02

Key Points

• GFL Environmental declared a quarterly dividend of $0.0169 per share, payable October 30 to shareholders of record on October 14. The annualized dividend is approximately $0.07, yielding 0.2%.
• The dividend appears well covered, with a 9.8% payout ratio, and the company has raised payments for five consecutive years. Analysts expect a future payout ratio of roughly 7.1% based on projected earnings.
• GFL reported quarterly revenue of $1.37 billion, up 16.3% year over year, but EPS of $0.14 missed estimates by $0.03. Institutional investors owned 64.7% of the stock, with several major funds increasing their positions.

GFL Environmental Inc. (NYSE:GFL - Get Free Report) announced a quarterly dividend on Tuesday, September 29th. Investors of record on Wednesday, October 14th will be paid a dividend of $0.0169 per share on Friday, October 30th. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, October 14th.

GFL Environmental has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. GFL Environmental has a dividend payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect GFL Environmental to earn $0.85 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 7.1%.

GFL Environmental Stock Performance

Shares of NYSE GFL traded up $0.76 during mid-day trading on Tuesday, hitting $42.16. 4,056,333 shares of the company were exchanged, compared to its average volume of 2,378,982. The stock has a 50 day simple moving average of $41.53 and a 200-day simple moving average of $39.65. GFL Environmental has a 1-year low of $33.33 and a 1-year high of $47.66. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.34. The firm has a market cap of $15.22 billion, a price-to-earnings ratio of -79.55, a price-to-earnings-growth ratio of 3.12 and a beta of 0.68.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.33 billion. GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. The business's quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 earnings per share. On average, sell-side analysts forecast that GFL Environmental will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors lifted its holdings in shares of GFL Environmental by 17.6% in the fourth quarter. Capital Research Global Investors now owns 21,863,632 shares of the company's stock valued at $939,043,000 after purchasing an additional 3,267,936 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of GFL Environmental by 25.8% during the 4th quarter. CIBC Asset Management Inc now owns 5,101,264 shares of the company's stock worth $219,360,000 after purchasing an additional 1,047,180 shares in the last quarter. Norges Bank purchased a new position in shares of GFL Environmental during the 4th quarter worth approximately $149,466,000. Geode Capital Management LLC raised its position in shares of GFL Environmental by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 2,224,997 shares of the company's stock worth $95,178,000 after purchasing an additional 138,543 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of GFL Environmental by 43.8% during the 1st quarter. Bank of America Corp DE now owns 1,847,166 shares of the company's stock worth $77,064,000 after purchasing an additional 563,001 shares during the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Company Profile

GFL Environmental Inc is a North American environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company's operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste.

GFL also provides recycling and organics management services, including the processing of recyclable materials and organic waste. Its environmental services include liquid waste management, soil remediation, infrastructure services and other specialized solutions for industrial and commercial customers.

Founded in 2007, GFL is headquartered in Vaughan, Ontario, and serves communities and customers across Canada and the United States.

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