GFL Environmental Inc. (NYSE:GFL) Announces Dividend Increase – $0.01 Per Share

GFL Environmental Inc. (NYSE:GFL) declared a quarterly dividend on Thursday, April 4th, Zacks reports. Shareholders of record on Monday, April 15th will be given a dividend of 0.014 per share on Tuesday, April 30th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date is Friday, April 12th. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.01.

GFL Environmental has raised its dividend payment by an average of 19.4% annually over the last three years and has increased its dividend every year for the last 3 years. GFL Environmental has a dividend payout ratio of 5.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect GFL Environmental to earn $1.07 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 5.6%.

GFL Environmental Price Performance

GFL stock opened at $35.08 on Thursday. The company has a market capitalization of $13.02 billion, a P/E ratio of -350.80 and a beta of 1.13. GFL Environmental has a 52-week low of $26.87 and a 52-week high of $39.06. The business has a 50-day simple moving average of $35.13 and a two-hundred day simple moving average of $32.61. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.82 and a current ratio of 0.82.

GFL Environmental (NYSE:GFL) last announced its earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.14). The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. GFL Environmental had a net margin of 0.64% and a return on equity of 4.96%. Research analysts expect that GFL Environmental will post 0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group assumed coverage on shares of GFL Environmental in a report on Wednesday, January 31st. They issued a “buy” rating and a $44.00 target price for the company. TheStreet upgraded GFL Environmental from a “d+” rating to a “c” rating in a research note on Tuesday, February 20th. BMO Capital Markets upped their target price on GFL Environmental from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Bank of America lowered GFL Environmental from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a report on Friday, January 19th. Finally, Wells Fargo & Company raised their target price on GFL Environmental from $30.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.83.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. First Horizon Advisors Inc. increased its position in shares of GFL Environmental by 664.7% during the first quarter. First Horizon Advisors Inc. now owns 1,063 shares of the company’s stock valued at $37,000 after buying an additional 924 shares during the period. Money Concepts Capital Corp bought a new position in shares of GFL Environmental during the fourth quarter valued at $41,000. PNC Financial Services Group Inc. boosted its holdings in shares of GFL Environmental by 70.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,060 shares of the company’s stock valued at $41,000 after acquiring an additional 437 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in GFL Environmental by 1,570.6% in the first quarter. 1832 Asset Management L.P. now owns 1,821 shares of the company’s stock worth $63,000 after purchasing an additional 1,712 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC bought a new stake in shares of GFL Environmental in the third quarter worth $70,000. 64.70% of the stock is currently owned by hedge funds and other 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.