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

GFL Environmental Inc. (NYSE:GFL) was the target of some unusual options trading activity on Wednesday. Stock investors bought 4,694 call options on the company. This is an increase of approximately 463% compared to the average volume of 834 call options.

GFL Environmental Stock Performance

GFL opened at $48.14 on Friday. GFL Environmental has a 1-year low of $30.57 and a 1-year high of $48.87. The company has a market cap of $18.94 billion, a price-to-earnings ratio of -36.19 and a beta of 1.16. The company’s fifty day moving average price is $44.99 and its two-hundred day moving average price is $43.62. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27.

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

GFL Environmental Announces Dividend

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

Hedge Funds Weigh In On GFL Environmental

Large investors have recently bought and sold shares of the stock. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of GFL Environmental in the fourth quarter valued at about $2,203,000. Polar Asset Management Partners Inc. increased its stake in GFL Environmental by 241.7% in the 4th quarter. Polar Asset Management Partners Inc. now owns 119,951 shares of the company’s stock valued at $5,344,000 after buying an additional 84,851 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of GFL Environmental by 74.2% during the 4th quarter. Mackenzie Financial Corp now owns 231,348 shares of the company’s stock worth $10,302,000 after buying an additional 98,539 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of GFL Environmental by 21.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 18,985 shares of the company’s stock worth $846,000 after buying an additional 3,295 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of GFL Environmental by 151.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 444,684 shares of the company’s stock valued at $19,806,000 after acquiring an additional 267,932 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on GFL. Citigroup started coverage on GFL Environmental in a research report on Monday, January 27th. They issued a “buy” rating and a $53.00 price objective for the company. National Bankshares reiterated an “outperform” rating on shares of GFL Environmental in a report on Tuesday, March 11th. Royal Bank of Canada restated an “outperform” rating and set a $53.00 price target on shares of GFL Environmental in a report on Monday, February 24th. Stifel Nicolaus upgraded shares of GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, Scotiabank increased their target price on shares of GFL Environmental from $50.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.63.

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.