GFL Environmental (NYSE:GFL) Stock Gets Price Target Reduction from Truist Financial

GFL Environmental (NYSE:GFL) had its price objective trimmed by Truist Financial from $60.00 to $55.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also weighed in on GFL. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of GFL Environmental in a research report on Monday, August 31st. Barclays lifted their price objective on GFL Environmental from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. JPMorgan Chase & Co. boosted their target price on GFL Environmental from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Wednesday, October 21st. Jefferies Financial Group reissued a “buy” rating on shares of GFL Environmental in a research note on Friday, October 30th. Finally, Scotiabank increased their target price on GFL Environmental from $55.00 to $56.00 and gave the stock a “sector outperform” rating in a research note on Friday, October 30th. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, GFL Environmental presently has a consensus rating of “Moderate Buy” and an average target price of $57.60.

GFL Environmental Price Performance

Shares of NYSE GFL opened at $46.10 on Tuesday. GFL Environmental has a fifty-two week low of $33.33 and a fifty-two week high of $46.76. The company has a 50 day simple moving average of $43.08 and a two-hundred day simple moving average of $40.90. The company has a market capitalization of $16.64 billion, a price-to-earnings ratio of 69.68, a P/E/G ratio of 3.47 and a beta of 0.68. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.75 and a current ratio of 0.93.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, October 28th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. GFL Environmental had a negative net margin of 4.93% and a positive return on equity of 3.84%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $1.49 billion. Analysts expect that GFL Environmental will post 0.55 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, October 14th were given a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Wednesday, October 14th. GFL Environmental’s dividend payout ratio is -8.86%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GFL. Whipplewood Advisors LLC bought a new stake in shares of GFL Environmental during the first quarter worth $32,000. Integrated Wealth Concepts LLC bought a new position in shares of GFL Environmental in the second quarter worth about $31,000. GAMMA Investing LLC grew its holdings in shares of GFL Environmental by 853.7% in the third quarter. GAMMA Investing LLC now owns 1,030 shares of the company’s stock worth $43,000 after purchasing an additional 922 shares during the last quarter. Fifth Third Bancorp increased its stake in GFL Environmental by 175.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,144 shares of the company’s stock worth $48,000 after buying an additional 728 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in GFL Environmental by 36.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,335 shares of the company’s stock worth $56,000 after buying an additional 360 shares during the period. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Company Profile

GFL Environmental Inc is a Canadian 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, as well as organics and other resource-recovery services.

GFL also provides infrastructure and soil remediation services, including the management of contaminated materials and related environmental projects.