GFL Environmental Inc. said on October 5, 2023 that its board of directors declared a regular quarterly dividend of $0.01 per share ($0.05 annualized). Previously, the company paid $0.01 per share.
Shareholders of record as of October 16, 2023 will receive the payment on October 31, 2023.
At the current share price of $31.06 / share, the stock’s dividend yield is 0.17%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.16%, the lowest has been 0.11%, and the highest has been 0.35%. The standard deviation of yields is 0.05 (n=168).
The current dividend yield is 0.06 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is -0.07. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 426 funds or institutions reporting positions in GFL Environmental Inc.. This is an increase of 44 owner(s) or 11.52% in the last quarter. Average portfolio weight of all funds dedicated to GFL is 0.61%, a decrease of 3.73%. Total shares owned by institutions increased in the last three months by 6.85% to 269,020K shares. The put/call ratio of GFL is 1.33, indicating a bearish outlook.
Analyst Price Forecast Suggests 22.50% Upside
As of October 5, 2023, the average one-year price target for GFL Environmental Inc. is 38.05. The forecasts range from a low of 26.08 to a high of $46.49. The average price target represents an increase of 22.50% from its latest reported closing price of 31.06.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for GFL Environmental Inc. is 7,507MM. The projected annual non-GAAP EPS is 0.69.
What are Other Shareholders Doing?
BC Partners Advisors holds 53,784K shares representing 14.57% ownership of the company. No change in the last quarter.
Ontario Teachers Pension Plan Board holds 39,352K shares representing 10.66% ownership of the company. In it’s prior filing, the firm reported owning 43,661K shares, representing a decrease of 10.95%. The firm decreased its portfolio allocation in GFL by 1.90% over the last quarter.
Capital Research Global Investors holds 8,142K shares representing 2.21% ownership of the company. In it’s prior filing, the firm reported owning 2,486K shares, representing an increase of 69.47%. The firm increased its portfolio allocation in GFL by 246.46% over the last quarter.
Massachusetts Financial Services holds 8,054K shares representing 2.18% ownership of the company. In it’s prior filing, the firm reported owning 8,398K shares, representing a decrease of 4.27%. The firm increased its portfolio allocation in GFL by 4.05% over the last quarter.
Nordea Investment Management Ab holds 6,041K shares representing 1.64% ownership of the company. In it’s prior filing, the firm reported owning 6,290K shares, representing a decrease of 4.12%. The firm increased its portfolio allocation in GFL by 0.29% over the last quarter.
GFL Environmental Background Information
(This description is provided by the company.)
GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of non-hazardous solid waste management, infrastructure & soil remediation and liquid waste management services through its platform of facilities throughout Canada and in 27 states in the United States. Across its organization, GFL has a workforce of more than 13,000 employees and provides its broad range of environmental services to more than 135,000 commercial and industrial customers and its solid waste collection services to more than 4 million households.
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