GFL Environmental Inc. (NYSE:GFL) Short Interest Down 17.7% in May

GFL Environmental Inc. (NYSE:GFL) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totalling 8,910,000 shares, a drop of 17.7% from the April 30th total of 10,830,000 shares. Based on an average daily volume of 2,070,000 shares, the short-interest ratio is presently 4.3 days. Approximately 3.8% of the company’s stock are short sold.

Analysts Set New Price Targets

GFL has been the topic of a number of recent research reports. Raymond James reissued an “outperform” rating and issued a $57.00 target price (up previously from $56.00) on shares of GFL Environmental in a report on Friday, May 2nd. UBS Group raised their target price on shares of GFL Environmental from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, April 4th. National Bank Financial raised shares of GFL Environmental to a “strong-buy” rating in a report on Monday, May 26th. National Bankshares reissued an “outperform” rating on shares of GFL Environmental in a report on Tuesday, March 11th. Finally, Citigroup raised their target price on shares of GFL Environmental from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, GFL Environmental presently has an average rating of “Buy” and an average price target of $54.50.

GFL Environmental Stock Performance

NYSE GFL opened at $50.15 on Tuesday. The stock has a market cap of $18.39 billion, a P/E ratio of -37.70 and a beta of 1.08. The company’s 50-day simple moving average is $48.60 and its 200 day simple moving average is $46.45. GFL Environmental has a twelve month low of $32.55 and a twelve month high of $52.00. 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 (NYSE:GFL) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.10). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.52 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The firm’s revenue for the quarter was down 13.4% compared to the same quarter last year. As a group, research analysts forecast that GFL Environmental will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th were paid a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a yield of 0.12%. This is a boost from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s dividend payout ratio is currently 1.23%.

Institutional Trading of GFL Environmental

Several large investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in GFL Environmental by 10.0% during the fourth quarter. FMR LLC now owns 27,664,678 shares of the company’s stock worth $1,233,223,000 after buying an additional 2,506,021 shares during the last quarter. Capital Research Global Investors grew its stake in shares of GFL Environmental by 11.4% during the fourth 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 during the last quarter. Fred Alger Management LLC grew its stake in shares of GFL Environmental by 1.9% during the fourth quarter. Fred Alger Management LLC now owns 10,411,148 shares of the company’s stock valued at $463,713,000 after purchasing an additional 190,018 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of GFL Environmental by 1.7% during the first quarter. Vanguard Group Inc. now owns 8,843,436 shares of the company’s stock valued at $427,166,000 after purchasing an additional 146,256 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of GFL Environmental by 4.4% during the first quarter. Royal Bank of Canada now owns 7,883,481 shares of the company’s stock valued at $380,850,000 after purchasing an additional 334,218 shares during the last quarter. 64.70% of the stock is owned by institutional investors.

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.