GFL Environmental (NYSE:GFL) Issues Quarterly Earnings Results

GFL Environmental (NYSE:GFL) issued its quarterly earnings results on Wednesday. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.03), Zacks reports. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.

GFL Environmental Trading Up 3.1%

GFL stock traded up $1.21 during trading on Wednesday, hitting $40.36. The company had a trading volume of 4,947,116 shares, compared to its average volume of 2,334,958. The stock has a market cap of $14.48 billion, a PE ratio of 126.14, a PEG ratio of 2.95 and a beta of 0.70. The business has a 50-day moving average of $37.08 and a 200-day moving average of $40.09. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.32. GFL Environmental has a one year low of $33.33 and a one year high of $51.51.

GFL Environmental Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be given a $0.0169 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, July 13th. GFL Environmental’s payout ratio is 21.88%.

Institutional Investors Weigh In On GFL Environmental

A number of large investors have recently bought and sold shares of GFL. Skyview Financial Group LLC acquired a new position in shares of GFL Environmental during the fourth quarter valued at about $490,000. Mackenzie Financial Corp raised its holdings in shares of GFL Environmental by 82.0% in the 4th quarter. Mackenzie Financial Corp now owns 563,108 shares of the company’s stock worth $24,545,000 after acquiring an additional 253,764 shares during the last quarter. Voloridge Investment Management LLC bought a new position in GFL Environmental in the 4th quarter valued at about $5,938,000. Wellington Management Group LLP lifted its position in GFL Environmental by 32.7% in the 4th quarter. Wellington Management Group LLP now owns 2,668,607 shares of the company’s stock valued at $114,619,000 after acquiring an additional 657,027 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in GFL Environmental during the 4th quarter valued at about $4,026,000. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GFL has been the topic of a number of research reports. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Zacks Research downgraded GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Weiss Ratings cut GFL Environmental from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, July 14th. Scotiabank reduced their target price on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, May 4th. Finally, Citigroup set a $51.00 price objective on shares of GFL Environmental and gave the stock a “buy” rating in a research note on Monday, July 6th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.89.

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.