GFL Environmental (TSE:GFL) Shares Down 0.7% - Here's Why

GFL Environmental Inc. (TSE:GFL - Get Free Report) shares dropped 0.7% during mid-day trading on Thursday . The stock traded as low as C$67.55 and last traded at C$67.76. Approximately 80,713 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 341,526 shares. The stock had previously closed at C$68.26.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GFL. Seaport Res Ptn raised GFL Environmental to a "strong-buy" rating in a research report on Tuesday, May 6th. National Bank Financial upgraded GFL Environmental to a "strong-buy" rating in a research note on Monday, May 26th. One analyst has rated the stock with a hold rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, GFL Environmental currently has a consensus rating of "Strong Buy".

GFL Environmental Stock Performance

The business has a fifty day moving average price of C$68.27 and a 200-day moving average price of C$66.13. The company has a quick ratio of 0.57, a current ratio of 0.58 and a debt-to-equity ratio of 147.75. The stock has a market capitalization of C$26.53 billion, a P/E ratio of -45.13, a P/E/G ratio of -0.76 and a beta of 1.03.

GFL Environmental Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 30th were issued a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a yield of 0.09%. The ex-dividend date was Monday, April 14th. This is a boost from GFL Environmental's previous quarterly dividend of $0.01. GFL Environmental's dividend payout ratio (DPR) is currently -5.25%.

Insider Buying and Selling

In other news, Director Patrick Joseph Dovigi sold 50,000 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of C$67.33, for a total value of C$3,366,610.60. 2.96% of the stock is owned by corporate insiders.

GFL Environmental Company Profile

GFL Environmental Inc is an environmental services company. Its offerings include non-hazardous solid waste management, infrastructure, soil remediation, and liquid waste management services. Its solid waste management business line, which generates the majority of the revenue, consists of the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste.