Truist Financial Boosts GFL Environmental (NYSE:GFL) Price Target to $54.00

GFL Environmental (NYSE:GFL) had its target price hoisted by Truist Financial from $46.00 to $54.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also issued reports on GFL. UBS Group boosted their target price on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Raymond James raised their target price on GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Scotiabank boosted their price target on shares of GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.80.

GFL Environmental Price Performance

GFL stock opened at $44.24 on Friday. GFL Environmental has a 52-week low of $26.87 and a 52-week high of $46.48. The company has a quick ratio of 0.89, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The stock has a market cap of $16.66 billion, a price-to-earnings ratio of -33.26 and a beta of 1.15. The business has a fifty day moving average of $40.84 and a two-hundred day moving average of $38.51.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. As a group, research analysts anticipate that GFL Environmental will post 0.6 earnings per share for the current year.

GFL Environmental Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental’s payout ratio is -4.51%.

Hedge Funds Weigh In On GFL Environmental

Several large investors have recently bought and sold shares of GFL. Capital Research Global Investors boosted its stake in GFL Environmental by 17.4% during the 1st quarter. Capital Research Global Investors now owns 19,851,514 shares of the company’s stock worth $684,877,000 after purchasing an additional 2,935,811 shares during the period. Millennium Management LLC raised its stake in GFL Environmental by 40.0% during the 2nd quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock valued at $219,922,000 after acquiring an additional 1,614,182 shares during the last quarter. Progeny 3 Inc. grew its stake in shares of GFL Environmental by 516.3% in the 2nd quarter. Progeny 3 Inc. now owns 893,300 shares of the company’s stock valued at $34,776,000 after purchasing an additional 748,350 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of GFL Environmental by 9.4% in the first quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company’s stock valued at $273,053,000 after purchasing an additional 683,120 shares during the period. Finally, Maverick Capital Ltd. raised its stake in shares of GFL Environmental by 22.1% during the second quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company’s stock worth $127,911,000 after purchasing an additional 595,259 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.