Clarkston Capital Partners LLC Has $120.48 Million Stock Holdings in GFL Environmental Inc. $GFL

Key Points

• Clarkston Capital Partners trimmed its GFL Environmental stake by 1.9% in the fourth quarter, but still held 2.81 million shares valued at about $120.5 million, making GFL its eighth-largest position.
• Wall Street sentiment is mixed: while some analysts lowered ratings and price targets, GFL still has an overall “Moderate Buy” consensus with an average target price of $55.
• GFL reported better-than-expected quarterly results with EPS of $0.06 versus $0.05 expected and revenue of $1.18 billion, and it also increased its quarterly dividend to $0.0169 per share.

Clarkston Capital Partners LLC cut its stake in shares of GFL Environmental Inc. (NYSE:GFL - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 holdings, making the stock its 8th biggest position. Clarkston Capital Partners LLC owned about 0.78% of GFL Environmental worth $120,476,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company's stock worth $37,000 after purchasing an additional 219 shares during the period. Advisory Services Network LLC boosted its position in shares of GFL Environmental by 4.1% during the 3rd quarter. Advisory Services Network LLC now owns 6,537 shares of the company's stock valued at $310,000 after acquiring an additional 256 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of GFL Environmental by 21.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company's stock valued at $75,000 after acquiring an additional 289 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of GFL Environmental by 45.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company's stock valued at $46,000 after acquiring an additional 304 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its position in shares of GFL Environmental by 6.8% during the 2nd quarter. Engineers Gate Manager LP now owns 5,187 shares of the company's stock valued at $262,000 after acquiring an additional 331 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings downgraded GFL Environmental from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, May 15th. JPMorgan Chase & Co. downgraded GFL Environmental from a "neutral" rating to an "underweight" rating and lowered their target price for the company from $49.00 to $42.00 in a research report on Tuesday, April 14th. Wolfe Research assumed coverage on GFL Environmental in a research report on Friday, March 13th. They set an "outperform" rating for the company. Scotiabank lowered their target price on GFL Environmental from $56.00 to $52.00 and set a "sector outperform" rating for the company in a research report on Monday, May 4th. Finally, Citigroup lowered their target price on GFL Environmental from $55.00 to $51.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, GFL Environmental presently has an average rating of "Moderate Buy" and an average target price of $55.00.

GFL Environmental Stock Up 0.3%

NYSE GFL opened at $35.98 on Friday. The stock has a 50 day moving average price of $38.11 and a 200-day moving average price of $41.43. GFL Environmental Inc. has a one year low of $33.33 and a one year high of $51.51. The company has a market capitalization of $12.90 billion, a P/E ratio of 112.43, a P/E/G ratio of 2.79 and a beta of 0.71. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.51 and a current ratio of 1.51.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share 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 company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm posted ($0.09) EPS. GFL Environmental's quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts predict that GFL Environmental Inc. will post 0.54 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 13th were issued a dividend of $0.0169 per share. This represents a $0.07 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, April 13th. This is a boost from GFL Environmental's previous quarterly dividend of $0.02. GFL Environmental's payout ratio 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.