Clarkston Capital Partners LLC lessened its stake in shares of GFL Environmental Inc. (NYSE:GFL – Free Report) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,805,035 shares of the company’s stock after selling 55,025 shares during the quarter. GFL Environmental makes up approximately 2.8% of Clarkston Capital Partners LLC’s investment portfolio, making the stock its 8th biggest holding. Clarkston Capital Partners LLC’s holdings in GFL Environmental were worth $120,476,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of GFL. Norges Bank purchased a new stake in GFL Environmental during the 4th quarter valued at $149,466,000. Capital Research Global Investors increased its stake in GFL Environmental by 17.6% in the fourth quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock worth $939,043,000 after purchasing an additional 3,267,936 shares during the period. Nordea Investment Management AB increased its stake in GFL Environmental by 40.8% in the fourth quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock worth $290,083,000 after purchasing an additional 1,932,442 shares during the period. UBS Group AG increased its stake in GFL Environmental by 203.9% in the third quarter. UBS Group AG now owns 1,946,471 shares of the company’s stock worth $92,224,000 after purchasing an additional 1,305,953 shares during the period. Finally, American Century Companies Inc. increased its stake in GFL Environmental by 25.5% in the third quarter. American Century Companies Inc. now owns 6,023,139 shares of the company’s stock worth $285,377,000 after purchasing an additional 1,225,108 shares during the period. Hedge funds and other institutional investors own 64.70% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have weighed in on GFL shares. Citigroup reduced their target price on GFL Environmental from $55.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Scotiabank reduced their target price on GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, May 4th. Wolfe Research started coverage on GFL Environmental in a research note on Friday, March 13th. They issued an “outperform” rating on the stock. Zacks Research lowered GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Finally, Weiss Ratings lowered GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.
GFL Environmental Stock Performance
GFL stock opened at $35.98 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.32. The business’s fifty day simple moving average is $38.11 and its two-hundred day simple moving average is $41.43. GFL Environmental Inc. has a twelve month low of $33.33 and a twelve month high of $51.51. The firm has a market cap of $12.90 billion, a price-to-earnings ratio of 112.43, a PEG ratio of 2.79 and a beta of 0.71.
GFL Environmental (NYSE:GFL – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company earned ($0.09) EPS. The business’s revenue was up 5.4% compared to the same quarter last year. Analysts predict that GFL Environmental Inc. will post 0.54 earnings per share for the current year.
GFL Environmental Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 13th were given a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, April 13th. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.02. GFL Environmental’s dividend payout ratio is currently 21.88%.
GFL Environmental Company Profile
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.
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