TD Cowen Boosts GFL Environmental (NYSE:GFL) Price Target to $43.00

GFL Environmental (NYSE:GFL) had its price target lifted by TD Cowen from $42.00 to $43.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently weighed in on the stock. BMO Capital Markets raised their price target on shares of GFL Environmental from $40.00 to $42.00 and gave the stock an outperform rating in a research report on Thursday, February 22nd. Bank of America cut shares of GFL Environmental from a buy rating to a neutral rating and set a $35.00 price target on the stock. in a research report on Friday, January 19th. Jefferies Financial Group boosted their price objective on GFL Environmental from $46.00 to $51.00 and gave the company a buy rating in a report on Monday, March 18th. UBS Group assumed coverage on GFL Environmental in a report on Wednesday, January 31st. They set a buy rating and a $44.00 target price on the stock. Finally, TheStreet upgraded GFL Environmental from a d+ rating to a c rating in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $43.08.

GFL Environmental Stock Performance

Shares of NYSE:GFL opened at $32.67 on Monday. The company has a market cap of $12.13 billion, a P/E ratio of 51.22 and a beta of 1.15. GFL Environmental has a one year low of $26.87 and a one year high of $39.06. The business’s 50-day simple moving average is $34.08 and its 200 day simple moving average is $32.79. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.84 and a current ratio of 0.84.

GFL Environmental (NYSE:GFL) last announced its earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.14). GFL Environmental had a net margin of 1.25% and a return on equity of 4.51%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. On average, sell-side analysts forecast that GFL Environmental will post 0.7 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were issued a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.17%. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.01. The ex-dividend date was Friday, April 12th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its holdings in GFL Environmental by 55.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 12,543,970 shares of the company’s stock worth $398,396,000 after acquiring an additional 4,490,164 shares during the period. Deutsche Bank AG grew its stake in shares of GFL Environmental by 1,143.9% in the 3rd quarter. Deutsche Bank AG now owns 2,811,835 shares of the company’s stock worth $89,304,000 after purchasing an additional 2,585,786 shares during the last quarter. Norges Bank bought a new stake in shares of GFL Environmental in the 4th quarter worth approximately $85,441,000. Capital Research Global Investors lifted its stake in GFL Environmental by 16.3% during the fourth quarter. Capital Research Global Investors now owns 16,915,703 shares of the company’s stock valued at $583,761,000 after purchasing an additional 2,365,355 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in GFL Environmental by 16.6% during the fourth quarter. Nordea Investment Management AB now owns 7,384,983 shares of the company’s stock valued at $256,259,000 after purchasing an additional 1,053,530 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

About GFL Environmental

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.