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

GFL Environmental Inc. (NYSE:GFL) saw unusually large options trading on Tuesday. Stock investors acquired 25,084 call options on the stock. This is an increase of 2,300% compared to the typical daily volume of 1,045 call options.

GFL Environmental Stock Performance

Shares of GFL Environmental stock traded down $0.17 during trading on Tuesday, hitting $43.56. 414,588 shares of the company’s stock traded hands, compared to its average volume of 2,285,050. GFL Environmental has a 1 year low of $33.33 and a 1 year high of $48.28. The business has a 50-day simple moving average of $40.61 and a 200-day simple moving average of $39.83. The stock has a market capitalization of $15.72 billion, a P/E ratio of -82.17, a PEG ratio of 2.84 and a beta of 0.68. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.75 and a quick ratio of 0.75.

GFL Environmental (NYSE:GFL) last issued its earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03). GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the business posted $0.26 EPS. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. As a group, analysts forecast that GFL Environmental will post 0.65 EPS for the current year.

GFL Environmental Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 13th were issued a $0.0169 dividend. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, July 13th. GFL Environmental’s payout ratio is -13.21%.

Institutional Trading of GFL Environmental

A number of hedge funds have recently added to or reduced their stakes in GFL. EverSource Wealth Advisors LLC raised its holdings in shares of GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after purchasing an additional 219 shares in the last quarter. Advisory Services Network LLC increased its holdings in GFL Environmental by 4.1% during the third quarter. Advisory Services Network LLC now owns 6,537 shares of the company’s stock valued at $310,000 after buying an additional 256 shares during the period. Tobam raised its stake in GFL Environmental by 10.5% in the fourth quarter. Tobam now owns 3,079 shares of the company’s stock worth $132,000 after buying an additional 293 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in GFL Environmental by 45.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock worth $46,000 after buying an additional 304 shares during the period. Finally, Engineers Gate Manager LP lifted its holdings in GFL Environmental by 6.8% during the second quarter. Engineers Gate Manager LP now owns 5,187 shares of the company’s stock worth $262,000 after buying an additional 331 shares during the period. 64.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GFL has been the subject of a number of analyst reports. Barclays started coverage on shares of GFL Environmental in a research note on Wednesday, September 2nd. They set an “overweight” rating and a $58.00 target price for the company. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a research note on Monday, August 31st. Weiss Ratings upgraded GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 26th. Citigroup set a $51.00 target price on GFL Environmental and gave the stock a “buy” rating in a report on Monday, July 6th. Finally, Zacks Research cut GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.25.

About GFL Environmental

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.