GFL Environmental (NYSE:GFL) Price Target Raised to $41.00

GFL Environmental (NYSE:GFL) had its target price upped by JPMorgan Chase & Co. from $40.00 to $41.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Zacks Research cut shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Weiss Ratings cut shares of GFL Environmental from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. Citigroup set a $51.00 target price on shares of GFL Environmental and gave the company a “buy” rating in a report on Monday, July 6th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Finally, Scotiabank dropped their price target on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, GFL Environmental currently has an average rating of “Moderate Buy” and an average target price of $54.89.

GFL Environmental Trading Down 0.5%

Shares of GFL stock opened at $39.45 on Thursday. The company has a market capitalization of $14.15 billion, a P/E ratio of 123.27, a price-to-earnings-growth ratio of 2.98 and a beta of 0.70. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.32. The business’s 50 day moving average is $36.78 and its two-hundred day moving average is $40.30. GFL Environmental has a twelve month low of $33.33 and a twelve month high of $51.51.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts forecast that GFL Environmental will post 0.56 EPS for the current year.

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 13th will be paid a dividend of $0.0169 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. GFL Environmental’s payout ratio is 18.75%.

Institutional Investors Weigh In On GFL Environmental

A number of institutional investors and hedge funds have recently modified their holdings of the company. Nordea Investment Management AB boosted its position in shares of GFL Environmental by 40.8% in the 4th quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock worth $290,083,000 after buying an additional 1,932,442 shares in the last quarter. Legal & General Group Plc increased its holdings in GFL Environmental by 12.0% during the 4th quarter. Legal & General Group Plc now owns 1,225,212 shares of the company’s stock valued at $52,700,000 after acquiring an additional 131,332 shares in the last quarter. Vestcor Inc increased its holdings in GFL Environmental by 25.7% during the 4th quarter. Vestcor Inc now owns 391,815 shares of the company’s stock valued at $16,828,000 after acquiring an additional 80,000 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in GFL Environmental during the fourth quarter worth about $1,327,000. Finally, JPMorgan Chase & Co. raised its position in GFL Environmental by 35.2% during the third quarter. JPMorgan Chase & Co. now owns 1,344,569 shares of the company’s stock worth $63,706,000 after acquiring an additional 349,720 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

About GFL Environmental

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.