Traders Purchase Large Volume of Put Options on GFL Environmental (NYSE:GFL)

GFL Environmental Inc. (NYSE:GFL) saw some unusual options trading activity on Monday. Stock investors bought 30,914 put options on the stock. This represents an increase of 118% compared to the average daily volume of 14,210 put options.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GFL. JPMorgan Chase & Co. raised their price objective on GFL Environmental from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Wednesday, October 21st. Scotiabank dropped their target price on shares of GFL Environmental from $57.00 to $55.00 and set a “sector outperform” rating for the company in a report on Thursday, October 15th. TD Cowen reissued a “buy” rating and issued a $65.00 target price on shares of GFL Environmental in a report on Friday, September 11th. Citigroup set a $51.00 price target on shares of GFL Environmental and gave the company a “buy” rating in a research note on Wednesday, October 14th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of GFL Environmental in a report on Monday, August 31st. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.56.

GFL Environmental Trading Up 0.0%

GFL stock traded up $0.02 during trading on Monday, hitting $45.58. The company had a trading volume of 3,659,146 shares, compared to its average volume of 2,580,753. The stock has a market cap of $16.45 billion, a PE ratio of -85.93, a PEG ratio of 3.52 and a beta of 0.72. The business has a 50-day moving average of $42.40 and a 200-day moving average of $39.78. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.34. GFL Environmental has a one year low of $33.33 and a one year high of $46.76.

GFL Environmental (NYSE:GFL) last released 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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the firm earned $0.26 EPS. GFL Environmental’s quarterly revenue was up 16.3% on a year-over-year basis. Research analysts predict that GFL Environmental will post 0.55 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 14th will be issued a $0.0169 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Wednesday, October 14th. GFL Environmental’s dividend payout ratio (DPR) is currently -13.21%.

Institutional Investors Weigh In On GFL Environmental

Several hedge funds and other institutional investors have recently made changes to their positions in the business. QV Investors Inc. bought a new position in shares of GFL Environmental during the third quarter valued at about $44,887,000. Bank of America Corp DE grew its position in GFL Environmental by 43.8% in the 1st quarter. Bank of America Corp DE now owns 1,847,166 shares of the company’s stock worth $77,064,000 after purchasing an additional 563,001 shares in the last quarter. Verbena Value LP grew its position in GFL Environmental by 44.7% in the 1st quarter. Verbena Value LP now owns 1,211,100 shares of the company’s stock worth $50,527,000 after purchasing an additional 374,000 shares in the last quarter. Maven Securities LTD increased its stake in GFL Environmental by 18.7% in the 2nd quarter. Maven Securities LTD now owns 143,198 shares of the company’s stock valued at $5,268,000 after buying an additional 22,551 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in GFL Environmental by 29.1% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 374,906 shares of the company’s stock valued at $15,182,000 after buying an additional 84,555 shares during the last quarter. 64.70% of the stock is owned by institutional investors.

GFL Environmental Company Profile

GFL Environmental Inc is a Canadian environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company’s operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste, as well as organics and other resource-recovery services.

GFL also provides infrastructure and soil remediation services, including the management of contaminated materials and related environmental projects.