GFL Environmental Inc. [NYSE: GFL] jumped around 0.71 points on Thursday, while shares priced at $25.43 at the close of the session, up 2.87%. The company report on November 17, 2020 that GFL Environmental Inc. Prices Upsized Private Offering of Senior Notes.
GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) (“GFL”) today announced the pricing of US$500.0 million in aggregate principal amount of 4.000% senior notes due 2028 (the “Notes”) in a transaction that was significantly oversubscribed. The offering was upsized by US$100.0 million over the previously announced offering size of US$400.0 million. The Notes will be issued at 99.171%. GFL intends to use the net proceeds from the offering of the Notes (the “Notes Offering”) to redeem all of GFL’s outstanding US$405.0 million aggregate principal amount of 7.000% Senior Notes due 2026 (the “2026 Unsecured Notes”) and to pay related fees, premiums and accrued and unpaid interest on the 2026 Unsecured Notes. Any remaining proceeds will be used to repay borrowings under GFL’s revolving credit facility.
The Notes being offered by GFL in the Notes Offering have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The Notes are being offered only to qualified institutional buyers under Rule 144A and outside the United States in compliance with Regulation S under the Securities Act. In Canada, the Notes are to be offered and sold on a private placement basis in certain provinces of Canada.
GFL Environmental Inc. stock is now 51.37% up from its year-to-date (YTD) trading value. GFL Stock saw the intraday high of $25.51 and lowest of $24.64 per share. The company’s 52-week high price is 24.89, which means current price is +113.34% above from all time high which was touched on 11/19/20.
Compared to the average trading volume of 1.34M shares, GFL reached a trading volume of 2198255 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about GFL Environmental Inc. [GFL]?
Goldman have made an estimate for GFL Environmental Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 19, 2020. The new note on the price target was released on July 15, 2020, representing the official price target for GFL Environmental Inc. stock.
The Average True Range (ATR) for GFL Environmental Inc. is set at 0.88 The Price to Book ratio for the last quarter was 31.13.
How has GFL stock performed recently?
GFL Environmental Inc. [GFL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.47. With this latest performance, GFL shares gained by 12.87% in over the last four-week period, additionally plugging by 43.75% over the last 6 months .
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GFL stock in for the last two-week period is set at 76.66, with the RSI for the last a single of trading hit 82.38, and the three-weeks RSI is set at 70.03 for GFL Environmental Inc. [GFL]. The present Moving Average for the last 50 days of trading for this stock 21.74, while it was recorded at 24.22 for the last single week of trading.
GFL Environmental Inc. [GFL]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and GFL Environmental Inc. [GFL] shares currently have an operating margin of -3.67 and a Gross Margin at +8.18. GFL Environmental Inc.’s Net Margin is presently recorded at -13.49.
Return on Total Capital for GFL is now -1.22, given the latest momentum, and Return on Invested Capital for the company is -4.54. Return on Equity for this stock declined to -15.15, with Return on Assets sitting at -3.78. When it comes to the capital structure of this company, GFL Environmental Inc. [GFL] has a Total Debt to Total Equity ratio set at 282.42. Additionally, GFL Total Debt to Total Capital is recorded at 73.85, with Total Debt to Total Assets ending up at 61.80. Long-Term Debt to Equity for the company is recorded at 278.89, with the Long-Term Debt to Total Capital now at 72.93.
Reflecting on the efficiency of the workforce at the company, GFL Environmental Inc. [GFL] managed to generate an average of -$39,274 per employee. Receivables Turnover for the company is 5.20 with a Total Asset Turnover recorded at a value of 0.28.
Insider trade positions for GFL Environmental Inc. [GFL]
There are presently around $4,820 million, or 69.33% of GFL stock, in the hands of institutional investors. The top three institutional holders of GFL stocks are: BC PARTNERS ADVISORS L.P. with ownership of 62,609,167, which is approximately -7.52% of the company’s market cap and around 3.44% of the total institutional ownership; ONTARIO TEACHERS PENSION PLAN BOARD, holding 50,824,825 shares of the stock with an approximate value of $1.29 billion in GFL stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $274.65 million in GFL stock with ownership of nearly 34.821% of the company’s market capitalization.
Positions in GFL Environmental Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 59 institutional holders increased their position in GFL Environmental Inc. [NYSE:GFL] by around 18,878,253 shares. Additionally, 31 investors decreased positions by around 13,565,063 shares, while 5 investors held positions by with 157,077,591 shares. The mentioned changes placed institutional holdings at 189,520,907 shares, according to the latest SEC report filing. GFL stock had 31 new institutional investments in for a total of 5,561,060 shares, while 12 institutional investors sold positions of 2,295,775 shares during the same period.