GFL Environmental (NYSE:GFL) Sets New 1-Year High - Time to Buy?

Shares of GFL Environmental Inc. (NYSE:GFL - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $49.61 and last traded at $49.53, with a volume of 707224 shares traded. The stock had previously closed at $48.58.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GFL. Royal Bank of Canada restated an "outperform" rating and set a $53.00 target price on shares of GFL Environmental in a research report on Monday, February 24th. Stifel Nicolaus upgraded shares of GFL Environmental from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Truist Financial lifted their target price on GFL Environmental from $54.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, April 2nd. National Bankshares reaffirmed an "outperform" rating on shares of GFL Environmental in a research report on Tuesday, March 11th. Finally, Raymond James reissued an "outperform" rating and set a $57.00 price objective (up previously from $56.00) on shares of GFL Environmental in a research report on Friday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, GFL Environmental currently has a consensus rating of "Moderate Buy" and an average target price of $52.13.

GFL Environmental Stock Up 1.9 %

The stock has a market capitalization of $19.97 billion, a price-to-earnings ratio of -38.20 and a beta of 1.09. The firm has a 50-day moving average of $47.21 and a 200 day moving average of $45.27. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.10). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.52 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The business's revenue for the quarter was down 13.4% compared to the same quarter last year. As a group, sell-side analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th were paid a $0.0154 dividend. This is a positive change from GFL Environmental's previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 0.12%. GFL Environmental's dividend payout ratio is currently -3.87%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of GFL Environmental in the fourth quarter valued at $126,420,000. Capital Research Global Investors grew its stake in GFL Environmental by 11.4% in the 4th quarter. Capital Research Global Investors now owns 26,973,784 shares of the company's stock valued at $1,201,406,000 after buying an additional 2,751,618 shares during the last quarter. FMR LLC raised its holdings in GFL Environmental by 10.0% in the 4th quarter. FMR LLC now owns 27,664,678 shares of the company's stock valued at $1,233,223,000 after acquiring an additional 2,506,021 shares during the period. Wellington Management Group LLP acquired a new position in shares of GFL Environmental in the fourth quarter valued at approximately $93,343,000. Finally, Cohen & Steers Inc. bought a new position in shares of GFL Environmental during the fourth quarter worth approximately $51,505,000. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Company Profile

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.