GFL Environmental (NYSE:GFL) Stock Sees Unusually High Call Option Buying

Key Points

• Unusual options activity: Investors bought 37,490 GFL call options, 313% above the typical volume of 9,069 contracts.
• GFL shares opened at $42.06, while the company’s latest quarterly revenue rose 16.3% year over year to $1.37 billion, although EPS of $0.14 missed estimates by $0.03.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $57.67 price target; institutional investors own 64.7% of the stock.

GFL Environmental Inc. (NYSE:GFL - Get Free Report) was the target of some unusual options trading on Thursday. Stock investors bought 37,490 call options on the company. This represents an increase of 313% compared to the typical volume of 9,069 call options.

GFL Environmental Trading Down 1.1%

Shares of GFL opened at $42.06 on Thursday. The stock has a fifty day moving average price of $41.91 and a two-hundred day moving average price of $39.61. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.75 and a current ratio of 0.75. GFL Environmental has a 52-week low of $33.33 and a 52-week high of $47.01. The company has a market cap of $15.18 billion, a price-to-earnings ratio of -79.37, a PEG ratio of 3.14 and a beta of 0.72.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.03). GFL Environmental had a positive return on equity of 4.14% and a negative net margin of 3.28%.The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted $0.26 EPS. GFL Environmental's revenue for the quarter was up 16.3% on a year-over-year basis. Analysts predict that GFL Environmental will post 0.57 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be issued a dividend of $0.0169 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. GFL Environmental's dividend payout ratio is currently -13.21%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GFL. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of GFL Environmental in a research note on Monday, August 31st. Citigroup set a $51.00 target price on shares of GFL Environmental and gave the company a "buy" rating in a research report on Monday, July 6th. Barclays assumed coverage on shares of GFL Environmental in a research report on Wednesday, September 2nd. They issued an "overweight" rating and a $58.00 price target for the company. Scotiabank restated an "outperform" rating on shares of GFL Environmental in a research note on Wednesday, September 2nd. Finally, Weiss Ratings raised GFL Environmental from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, August 26th. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, GFL Environmental presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.67.

Institutional Investors Weigh In On GFL Environmental

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GFL. Versant Capital Management Inc lifted its position in shares of GFL Environmental by 40.4% during the third quarter. Versant Capital Management Inc now owns 2,527 shares of the company's stock worth $106,000 after purchasing an additional 727 shares in the last quarter. Tidal Investments LLC grew its stake in shares of GFL Environmental by 15.6% during the second quarter. Tidal Investments LLC now owns 27,465 shares of the company's stock valued at $1,010,000 after purchasing an additional 3,707 shares during the last quarter. C WorldWide Group Holding A S increased its holdings in shares of GFL Environmental by 16.2% in the second quarter. C WorldWide Group Holding A S now owns 34,410 shares of the company's stock valued at $1,266,000 after purchasing an additional 4,795 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of GFL Environmental in the second quarter valued at approximately $31,000. Finally, Maven Securities LTD raised its position in GFL Environmental by 18.7% in the 2nd quarter. Maven Securities LTD now owns 143,198 shares of the company's stock worth $5,268,000 after purchasing an additional 22,551 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company's stock.

GFL Environmental Company Profile

GFL Environmental Inc is a North American 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.

GFL also provides recycling and organics management services, including the processing of recyclable materials and organic waste. Its environmental services include liquid waste management, soil remediation, infrastructure services and other specialized solutions for industrial and commercial customers.

Founded in 2007, GFL is headquartered in Vaughan, Ontario, and serves communities and customers across Canada and the United States.

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