GFL Environmental Inc. (NYSE:GFL) Sees Significant Growth in Short Interest

GFL Environmental Inc. (NYSE:GFL) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 8,050,000 shares, an increase of 11.8% from the June 30th total of 7,200,000 shares. Currently, 3.4% of the company’s shares are sold short. Based on an average daily trading volume, of 1,320,000 shares, the days-to-cover ratio is currently 6.1 days.

GFL Environmental Stock Performance

NYSE:GFL traded up $0.31 during midday trading on Monday, reaching $38.20. 790,732 shares of the company traded hands, compared to its average volume of 1,226,022. The firm has a market capitalization of $14.38 billion, a price-to-earnings ratio of 59.20 and a beta of 1.15. The company has a fifty day moving average price of $37.04 and a 200 day moving average price of $35.15. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.84 and a quick ratio of 0.84. GFL Environmental has a twelve month low of $26.87 and a twelve month high of $40.27.

GFL Environmental Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be issued a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.15%. The ex-dividend date is Monday, July 15th.

Analyst Upgrades and Downgrades

GFL has been the subject of several recent research reports. Raymond James increased their price target on GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Royal Bank of Canada started coverage on GFL Environmental in a report on Monday, April 8th. They set an “outperform” rating and a $46.00 target price on the stock. BMO Capital Markets cut GFL Environmental from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $43.00 to $42.00 in a report on Tuesday, July 9th. Finally, TD Cowen increased their price objective on shares of GFL Environmental from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.45.

Hedge Funds Weigh In On GFL Environmental

Institutional investors have recently modified their holdings of the company. Signaturefd LLC boosted its stake in GFL Environmental by 48.9% during the 4th quarter. Signaturefd LLC now owns 1,178 shares of the company’s stock valued at $41,000 after purchasing an additional 387 shares during the period. Oliver Lagore Vanvalin Investment Group grew its holdings in GFL Environmental by 60.1% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 1,209 shares of the company’s stock worth $42,000 after buying an additional 454 shares in the last quarter. Fifth Third Bancorp increased its position in GFL Environmental by 51.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock valued at $53,000 after acquiring an additional 459 shares during the period. DekaBank Deutsche Girozentrale raised its stake in GFL Environmental by 2.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 20,803 shares of the company’s stock valued at $712,000 after acquiring an additional 575 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in GFL Environmental by 5.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 13,322 shares of the company’s stock worth $460,000 after acquiring an additional 690 shares during the period. Institutional investors own 64.70% of the company’s stock.

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.