GFL Environmental (NYSE:GFL) Given New $58.00 Price Target at Truist Financial

GFL Environmental (NYSE:GFL) had its target price lifted by Truist Financial from $54.00 to $58.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

GFL has been the topic of several other research reports. National Bankshares restated an “outperform” rating on shares of GFL Environmental in a report on Tuesday, March 11th. Scotiabank raised their price target on shares of GFL Environmental from $50.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 5th. Stifel Nicolaus raised shares of GFL Environmental from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Citigroup assumed coverage on GFL Environmental in a research report on Monday, January 27th. They issued a “buy” rating and a $53.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $53.00 price target on shares of GFL Environmental in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.38.

GFL Environmental Price Performance

Shares of GFL opened at $44.76 on Wednesday. The company has a 50 day moving average of $46.15 and a two-hundred day moving average of $44.17. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental has a twelve month low of $30.57 and a twelve month high of $49.35. The company has a market cap of $17.61 billion, a price-to-earnings ratio of -33.65 and a beta of 1.09.

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

GFL Environmental Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th will be paid a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.14%. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s dividend payout ratio (DPR) is presently -3.23%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in GFL Environmental by 10.0% in the fourth quarter. FMR LLC now owns 27,664,678 shares of the company’s stock valued at $1,233,223,000 after buying an additional 2,506,021 shares in the last quarter. Capital Research Global Investors increased its stake in shares of GFL Environmental by 11.4% in the 4th quarter. Capital Research Global Investors now owns 26,973,784 shares of the company’s stock valued at $1,201,406,000 after purchasing an additional 2,751,618 shares in the last quarter. Fred Alger Management LLC raised its holdings in GFL Environmental by 1.9% in the 4th quarter. Fred Alger Management LLC now owns 10,411,148 shares of the company’s stock worth $463,713,000 after purchasing an additional 190,018 shares during the period. Vanguard Group Inc. raised its holdings in GFL Environmental by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 8,697,180 shares of the company’s stock worth $387,705,000 after purchasing an additional 217,096 shares during the period. Finally, Soros Fund Management LLC boosted its position in GFL Environmental by 1.5% during the fourth quarter. Soros Fund Management LLC now owns 3,203,904 shares of the company’s stock worth $142,702,000 after purchasing an additional 47,577 shares in the last quarter. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

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.