Short Interest in GFL Environmental Inc. (NYSE:GFL) Grows By 12.2%

01 Nov 2024, 04:12 by Tristan Rich · The Markets Daily

GFL Environmental Inc. (NYSE:GFL – Get Free Report) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totalling 8,120,000 shares, an increase of 12.2% from the September 30th total of 7,240,000 shares. Based on an average trading volume of 1,180,000 shares, the days-to-cover ratio is presently 6.9 days. Approximately 3.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Scotiabank started coverage on shares of GFL Environmental in a research report on Friday, October 4th. They issued a “sector outperform” rating and a $50.00 price target on the stock. Royal Bank of Canada lifted their price target on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Raymond James lifted their price target on GFL Environmental from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, BMO Capital Markets cut GFL Environmental from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $43.00 to $42.00 in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.56.

View Our Latest Analysis on GFL Environmental

GFL Environmental Stock Down 0.4 %

NYSE:GFL traded down $0.15 during trading hours on Thursday, reaching $41.85. The company’s stock had a trading volume of 1,350,148 shares, compared to its average volume of 1,214,232. The company has a market cap of $15.76 billion, a price-to-earnings ratio of -27.90 and a beta of 1.16. GFL Environmental has a one year low of $26.87 and a one year high of $43.79. The business’s 50-day moving average is $40.78 and its 200-day moving average is $37.94. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.89 and a quick ratio of 0.89.

GFL Environmental (NYSE:GFL – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Equities research analysts predict that GFL Environmental will post 0.61 EPS for the current year.

GFL Environmental Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be issued a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Wednesday, October 16th. GFL Environmental’s dividend payout ratio (DPR) is -3.33%.

Institutional Investors Weigh In On GFL Environmental

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of GFL Environmental by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 7,231,470 shares of the company’s stock valued at $249,558,000 after buying an additional 77,156 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in GFL Environmental by 3.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 463,216 shares of the company’s stock worth $15,983,000 after purchasing an additional 14,625 shares in the last quarter. Van ECK Associates Corp raised its position in GFL Environmental by 20.4% in the first quarter. Van ECK Associates Corp now owns 107,907 shares of the company’s stock worth $3,723,000 after purchasing an additional 18,259 shares in the last quarter. Findlay Park Partners LLP acquired a new position in GFL Environmental in the first quarter worth about $35,686,000. Finally, DORCHESTER WEALTH MANAGEMENT Co acquired a new position in GFL Environmental in the first quarter worth about $259,000. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Company Profile

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