Clarkston Capital Partners LLC Has $38.79 Million Stock Holdings in GFL Environmental Inc. $GFL

Clarkston Capital Partners LLC cut its position in GFL Environmental Inc. (NYSE:GFL) by 66.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 929,859 shares of the company’s stock after selling 1,875,176 shares during the period. GFL Environmental comprises 3.0% of Clarkston Capital Partners LLC’s portfolio, making the stock its 8th largest holding. Clarkston Capital Partners LLC’s holdings in GFL Environmental were worth $38,794,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Legal & General Group Plc increased its holdings in shares of GFL Environmental by 12.0% in the 4th quarter. Legal & General Group Plc now owns 1,225,212 shares of the company’s stock worth $52,700,000 after buying an additional 131,332 shares during the last quarter. Generali Asset Management SPA SGR bought a new position in shares of GFL Environmental in the 4th quarter valued at about $1,327,000. Vestcor Inc lifted its holdings in shares of GFL Environmental by 25.7% in the 4th quarter. Vestcor Inc now owns 391,815 shares of the company’s stock valued at $16,828,000 after acquiring an additional 80,000 shares during the last quarter. Verbena Value LP grew its position in GFL Environmental by 44.7% in the first quarter. Verbena Value LP now owns 1,211,100 shares of the company’s stock worth $50,527,000 after acquiring an additional 374,000 shares in the last quarter. Finally, WINTON GROUP Ltd grew its position in GFL Environmental by 483.1% in the fourth quarter. WINTON GROUP Ltd now owns 236,167 shares of the company’s stock worth $10,143,000 after acquiring an additional 195,667 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GFL shares. Scotiabank decreased their price objective on GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, May 4th. Zacks Research cut GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, May 13th. JPMorgan Chase & Co. increased their price target on GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, July 16th. Finally, Citigroup set a $51.00 price target on GFL Environmental and gave the stock a “buy” rating in a research report on Monday, July 6th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.89.

GFL Environmental Stock Performance

GFL Environmental stock opened at $38.88 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.51 and a quick ratio of 1.51. GFL Environmental Inc. has a 1-year low of $33.33 and a 1-year high of $51.51. The firm has a market capitalization of $13.95 billion, a P/E ratio of 121.50, a price-to-earnings-growth ratio of 2.96 and a beta of 0.70. The company’s 50-day moving average is $36.96 and its 200 day moving average is $40.16.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the business earned ($0.09) earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts forecast that GFL Environmental Inc. will post 0.56 EPS for the current year.

GFL Environmental Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 13th will be paid 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 is Monday, July 13th. GFL Environmental’s dividend payout ratio (DPR) is currently 21.88%.

About GFL Environmental

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.