GFL Environmental Inc. (NYSE:GFL) Announces Dividend Increase - $0.01 Per Share

GFL Environmental Inc. (NYSE:GFL - Get Free Report) announced a quarterly dividend on Thursday, April 4th, Zacks reports. Shareholders of record on Monday, April 15th will be paid a dividend of 0.014 per share on Tuesday, April 30th. This represents a $0.06 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Friday, April 12th. This is an increase from GFL Environmental's previous quarterly dividend of $0.01.

GFL Environmental has increased its dividend payment by an average of 19.4% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. GFL Environmental has a payout ratio of 5.4% meaning its dividend is sufficiently covered by earnings. Analysts expect GFL Environmental to earn $1.07 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 5.6%.

GFL Environmental Price Performance

Shares of NYSE GFL traded up $0.69 on Friday, hitting $34.36. The company's stock had a trading volume of 1,096,971 shares, compared to its average volume of 1,198,975. GFL Environmental has a 12-month low of $26.87 and a 12-month high of $39.06. The company has a market capitalization of $12.75 billion, a price-to-earnings ratio of -343.60 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a 50 day moving average of $35.03 and a 200-day moving average of $32.57.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.14). The firm had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.37 billion. GFL Environmental had a net margin of 0.64% and a return on equity of 4.96%. As a group, research analysts predict that GFL Environmental will post 0.82 EPS for the current year.

Analyst Upgrades and Downgrades

GFL has been the topic of several recent analyst reports. UBS Group initiated coverage on shares of GFL Environmental in a research note on Wednesday, January 31st. They set a "buy" rating and a $44.00 price objective on the stock. Bank of America downgraded shares of GFL Environmental from a "buy" rating to a "neutral" rating and set a $35.00 price objective on the stock. in a research note on Friday, January 19th. Wells Fargo & Company upped their price target on shares of GFL Environmental from $30.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 6th. BMO Capital Markets upped their price target on shares of GFL Environmental from $40.00 to $42.00 and gave the stock an "outperform" rating in a research report on Thursday, February 22nd. Finally, Jefferies Financial Group upped their price target on shares of GFL Environmental from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Monday, March 18th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $42.58.

Institutional Investors Weigh In On GFL Environmental

Large investors have recently made changes to their positions in the business. First Horizon Advisors Inc. grew its holdings in GFL Environmental by 664.7% during the 1st quarter. First Horizon Advisors Inc. now owns 1,063 shares of the company's stock valued at $37,000 after purchasing an additional 924 shares in the last quarter. Money Concepts Capital Corp acquired a new stake in GFL Environmental during the 4th quarter valued at $41,000. PNC Financial Services Group Inc. grew its holdings in GFL Environmental by 70.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,060 shares of the company's stock valued at $41,000 after purchasing an additional 437 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in GFL Environmental by 1,570.6% during the 1st quarter. 1832 Asset Management L.P. now owns 1,821 shares of the company's stock valued at $63,000 after purchasing an additional 1,712 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC acquired a new stake in GFL Environmental during the 3rd quarter valued at $70,000. Institutional investors and hedge funds own 64.70% of the company's stock.

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.