GFL Environmental (NYSE:GFL) Now Covered by Wolfe Research

Wolfe Research began coverage on shares of GFL Environmental (NYSE:GFL) in a report issued on Friday morning, MarketBeat reports. The firm issued an outperform rating on the stock.

A number of other analysts have also issued reports on GFL. Scotiabank lowered their target price on shares of GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 12th. Citigroup reduced their price target on shares of GFL Environmental from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. The Goldman Sachs Group assumed coverage on shares of GFL Environmental in a report on Monday, November 24th. They set a “neutral” rating and a $50.00 price objective for the company. Weiss Ratings cut shares of GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of GFL Environmental from $46.75 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.67.

GFL Environmental Price Performance

Shares of GFL stock opened at $42.99 on Friday. The stock has a 50 day moving average price of $43.24 and a 200 day moving average price of $44.69. GFL Environmental has a 52-week low of $40.83 and a 52-week high of $52.00. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market capitalization of $15.39 billion, a P/E ratio of 6.32, a P/E/G ratio of 3.37 and a beta of 0.86.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.26 EPS for the quarter, beating 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 company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the company posted ($0.58) EPS. GFL Environmental’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts predict that GFL Environmental will post 0.58 earnings per share for the current year.

GFL Environmental Dividend Announcement

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

Institutional Trading of GFL Environmental

Several institutional investors and hedge funds have recently made changes to their positions in GFL. Berbice Capital Management LLC purchased a new stake in GFL Environmental in the second quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new position in GFL Environmental during the 4th quarter valued at about $25,000. Sunbelt Securities Inc. bought a new stake in shares of GFL Environmental in the 3rd quarter valued at about $33,000. EverSource Wealth Advisors LLC raised its holdings in shares of GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after purchasing an additional 219 shares in the last quarter. Finally, Compass Financial Services Inc lifted its position in shares of GFL Environmental by 63.0% in the 2nd quarter. Compass Financial Services Inc now owns 820 shares of the company’s stock worth $41,000 after purchasing an additional 317 shares during the period. 64.70% of the stock is currently owned by institutional investors.

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.