GFL Environmental (NYSE:GFL) Price Target Raised to $60.00

GFL Environmental (NYSE:GFL) had its price target upped by Royal Bank Of Canada from $59.00 to $60.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other analysts have also recently weighed in on GFL. The Goldman Sachs Group began coverage on shares of GFL Environmental in a research note on Monday, November 24th. They set a “neutral” rating and a $50.00 price objective on the stock. UBS Group boosted their price objective on GFL Environmental from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Scotiabank lowered their target price on GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating for the company in a research note on Thursday. Wells Fargo & Company initiated coverage on shares of GFL Environmental in a report on Thursday, November 13th. They set an “overweight” rating on the stock. Finally, Barclays upped their target price on shares of GFL Environmental from $62.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, GFL Environmental presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.67.

GFL Environmental Price Performance

GFL Environmental stock opened at $43.27 on Thursday. The business has a 50 day simple moving average of $43.21 and a 200 day simple moving average of $45.56. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.58 and a quick ratio of 0.69. The company has a market capitalization of $15.54 billion, a PE ratio of 6.36 and a beta of 0.88. GFL Environmental has a one year low of $40.83 and a one year high of $52.00.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.12. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the company posted ($0.58) earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts forecast that GFL Environmental will post 0.58 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were paid a $0.0154 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, January 13th. GFL Environmental’s dividend payout ratio (DPR) is 0.88%.

Institutional Trading of GFL Environmental

A number of institutional investors have recently bought and sold shares of GFL. Kestra Advisory Services LLC acquired a new position in shares of GFL Environmental in the 4th quarter valued at $156,000. FORA Capital LLC bought a new position in GFL Environmental during the fourth quarter worth about $1,101,000. Maverick Capital Ltd. grew its position in shares of GFL Environmental by 216.5% during the 4th quarter. Maverick Capital Ltd. now owns 5,023,417 shares of the company’s stock worth $215,761,000 after buying an additional 3,436,419 shares during the period. Marshall Wace LLP increased its stake in shares of GFL Environmental by 3,633.6% in the 4th quarter. Marshall Wace LLP now owns 1,170,208 shares of the company’s stock valued at $50,260,000 after acquiring an additional 1,138,865 shares during the last quarter. Finally, Public Sector Pension Investment Board bought a new position in GFL Environmental during the 4th quarter worth approximately $667,000. Institutional investors and hedge funds own 64.70% of the company’s stock.

About GFL Environmental

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.