GFL Environmental Target of Unusually High Options Trading (NYSE:GFL)

GFL Environmental Inc. (NYSE:GFL) was the recipient of some unusual options trading on Wednesday. Investors acquired 4,694 call options on the stock. This is an increase of approximately 463% compared to the typical daily volume of 834 call options.

GFL Environmental Trading Up 3.8 %

Shares of NYSE GFL traded up $1.78 during mid-day trading on Wednesday, hitting $48.54. 1,326,756 shares of the company traded hands, compared to its average volume of 1,321,397. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental has a 1 year low of $30.57 and a 1 year high of $48.87. The stock has a market capitalization of $19.10 billion, a price-to-earnings ratio of -36.51 and a beta of 1.16. The business has a 50 day moving average of $44.86 and a two-hundred day moving average of $43.55.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.98 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. On average, sell-side analysts anticipate that GFL Environmental will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 13th were issued a dividend of $0.014 per share. The ex-dividend date was Monday, January 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. GFL Environmental’s dividend payout ratio is -3.23%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $53.00 price target on shares of GFL Environmental in a research note on Monday, February 24th. Citigroup initiated coverage on shares of GFL Environmental in a research report on Monday, January 27th. They set a “buy” rating and a $53.00 price target on the stock. National Bankshares reiterated an “outperform” rating on shares of GFL Environmental in a research note on Tuesday, March 11th. Scotiabank upped their target price on GFL Environmental from $50.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, March 5th. Finally, Stifel Nicolaus upgraded GFL Environmental from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, GFL Environmental currently has an average rating of “Moderate Buy” and an average price target of $49.63.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Atria Investments Inc grew its stake in GFL Environmental by 11.3% during the 3rd quarter. Atria Investments Inc now owns 15,400 shares of the company’s stock valued at $614,000 after acquiring an additional 1,567 shares in the last quarter. Swiss National Bank grew its position in GFL Environmental by 0.8% during the third quarter. Swiss National Bank now owns 661,900 shares of the company’s stock valued at $26,446,000 after purchasing an additional 5,400 shares in the last quarter. Avior Wealth Management LLC acquired a new position in GFL Environmental in the 3rd quarter valued at approximately $82,000. PCJ Investment Counsel Ltd. lifted its position in GFL Environmental by 59.0% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 88,350 shares of the company’s stock worth $3,524,000 after buying an additional 32,800 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of GFL Environmental by 80.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 4,579 shares of the company’s stock valued at $183,000 after buying an additional 2,044 shares during the period. 64.70% of the stock is owned by institutional investors and hedge funds.

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.