GFL Environmental Inc. $GFL is Clarkston Capital Partners LLC's 7th Largest Position

Key Points

• Clarkston Capital Partners LLC has reduced its stake in GFL Environmental Inc. by 15.2%, now holding 4.5 million shares, making it the firm's 7th largest position.
• GFL Environmental reported earnings per share of $0.19 for the last quarter, meeting analyst expectations, with a revenue of $1.23 billion, slightly below estimates.
• The firm declared a quarterly dividend of $0.0154, resulting in an annualized yield of 0.1%, with a dividend payout ratio of 0.94%.

Clarkston Capital Partners LLC cut its holdings in GFL Environmental Inc. (NYSE:GFL - Free Report) by 15.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,508,270 shares of the company's stock after selling 810,340 shares during the quarter. GFL Environmental makes up about 4.3% of Clarkston Capital Partners LLC's investment portfolio, making the stock its 7th largest position. Clarkston Capital Partners LLC owned approximately 1.15% of GFL Environmental worth $217,795,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Millstone Evans Group LLC lifted its stake in GFL Environmental by 147.8% in the first quarter. Millstone Evans Group LLC now owns 560 shares of the company's stock worth $27,000 after acquiring an additional 334 shares during the period. Bessemer Group Inc. purchased a new stake in shares of GFL Environmental during the first quarter valued at about $28,000. LRI Investments LLC purchased a new stake in shares of GFL Environmental during the first quarter valued at about $34,000. Natixis purchased a new stake in shares of GFL Environmental during the fourth quarter valued at about $49,000. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of GFL Environmental during the first quarter valued at about $53,000. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Stock Performance

GFL opened at $50.4510 on Thursday. GFL Environmental Inc. has a 52-week low of $38.78 and a 52-week high of $52.00. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.89. The company has a market cap of $18.33 billion, a P/E ratio of 7.95 and a beta of 1.00. The firm's 50-day moving average price is $49.12 and its 200-day moving average price is $48.22.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company earned $0.29 EPS. GFL Environmental's quarterly revenue was up 5.9% on a year-over-year basis. GFL Environmental has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 14th were issued a $0.0154 dividend. This represents a $0.06 annualized dividend and a yield of 0.1%. GFL Environmental's dividend payout ratio (DPR) is presently 0.94%.

Analysts Set New Price Targets

GFL has been the subject of several analyst reports. JPMorgan Chase & Co. initiated coverage on shares of GFL Environmental in a research report on Friday, May 23rd. They set a "neutral" rating and a $54.00 price target for the company. National Bank Financial raised shares of GFL Environmental to a "strong-buy" rating in a research report on Monday, May 26th. Truist Financial upped their price objective on shares of GFL Environmental from $58.00 to $60.00 and gave the company a "buy" rating in a report on Friday, August 1st. Raymond James Financial restated an "outperform" rating and set a $57.00 price objective (up previously from $56.00) on shares of GFL Environmental in a report on Friday, May 2nd. Finally, Scotiabank upped their price objective on shares of GFL Environmental from $56.00 to $60.00 and gave the company a "sector outperform" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $57.86.

About GFL Environmental

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.

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