GFL Environmental Inc. (NYSE:GFL) Short Interest Update

GFL Environmental Inc. (NYSE:GFL) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 11,390,000 shares, a growth of 36.1% from the March 15th total of 8,370,000 shares. Based on an average daily volume of 2,150,000 shares, the days-to-cover ratio is presently 5.3 days. Approximately 4.4% of the company’s stock are sold short.

GFL Environmental Stock Down 0.1 %

GFL stock traded down $0.06 during trading on Friday, reaching $48.49. The stock had a trading volume of 1,192,629 shares, compared to its average volume of 1,469,435. The firm has a fifty day moving average price of $46.76 and a 200 day moving average price of $44.79. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $19.07 billion, a P/E ratio of -36.46 and a beta of 1.09. GFL Environmental has a 1-year low of $30.57 and a 1-year high of $49.45.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.98 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. On average, equities analysts anticipate that GFL Environmental will post 0.58 earnings per share for the current year.

GFL Environmental Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th will be issued a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s payout ratio is -3.87%.

Hedge Funds Weigh In On GFL Environmental

Several large investors have recently added to or reduced their stakes in the company. Net Worth Advisory Group acquired a new position in GFL Environmental in the first quarter valued at approximately $638,000. Fifth Third Bancorp increased its stake in GFL Environmental by 81.9% during the 1st quarter. Fifth Third Bancorp now owns 1,643 shares of the company’s stock valued at $79,000 after buying an additional 740 shares during the period. NewGen Asset Management Ltd bought a new stake in GFL Environmental during the first quarter worth approximately $3,986,000. Barton Investment Management boosted its stake in GFL Environmental by 0.8% during the 1st quarter. Barton Investment Management now owns 417,878 shares of the company’s stock valued at $20,188,000 after purchasing an additional 3,280 shares in the last quarter. Finally, Merit Financial Group LLC raised its stake in shares of GFL Environmental by 63.6% in the 1st quarter. Merit Financial Group LLC now owns 41,600 shares of the company’s stock worth $2,010,000 after buying an additional 16,171 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of GFL Environmental from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Truist Financial raised their price target on GFL Environmental from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, April 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $53.00 target price on shares of GFL Environmental in a report on Monday, February 24th. National Bankshares reissued an “outperform” rating on shares of GFL Environmental in a report on Tuesday, March 11th. Finally, Stifel Nicolaus raised GFL Environmental from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, GFL Environmental presently has an average rating of “Moderate Buy” and an average price target of $52.00.

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.