Stock Traders Purchase High Volume of Call Options on GFL Environmental (NYSE:GFL)

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

Institutional Trading of GFL Environmental

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its stake in GFL Environmental by 124.9% during the fourth quarter. Blue Trust Inc. now owns 551 shares of the company’s stock worth $25,000 after buying an additional 306 shares in the last quarter. Berbice Capital Management LLC acquired a new stake in shares of GFL Environmental during the 4th quarter valued at about $27,000. Continuum Advisory LLC increased its stake in GFL Environmental by 60.6% in the third quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock valued at $29,000 after acquiring an additional 254 shares during the period. Natixis acquired a new position in GFL Environmental in the fourth quarter worth about $49,000. Finally, Avior Wealth Management LLC bought a new position in GFL Environmental during the third quarter worth about $82,000. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Stock Performance

Shares of GFL Environmental stock traded up $1.78 during trading on Wednesday, reaching $48.54. The company’s stock had a trading volume of 1,326,756 shares, compared to its average volume of 1,321,397. GFL Environmental has a one year low of $30.57 and a one year high of $48.87. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $19.10 billion, a price-to-earnings ratio of -36.51 and a beta of 1.16. The business’s fifty day moving average price is $44.86 and its 200-day moving average price is $43.55.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.98 billion. As a group, equities research analysts predict that GFL Environmental will post 0.58 earnings per share for the current year.

GFL Environmental Announces Dividend

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

Analysts Set New Price Targets

GFL has been the topic of several recent research reports. National Bankshares reaffirmed an “outperform” rating on shares of GFL Environmental in a research 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. Citigroup began coverage on shares of GFL Environmental in a report on Monday, January 27th. They issued a “buy” rating and a $53.00 price objective for the company. Stifel Nicolaus upgraded GFL Environmental from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Finally, Scotiabank upped their price target on 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 investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.