GFL Environmental Inc. $GFL Stock Acquired by Copeland Capital Management LLC

Key Points

• Copeland Capital Management increased its GFL Environmental stake by 15.9% in the third quarter, bringing its holdings to 619,699 shares valued at approximately $25.9 million. Institutional investors collectively own 64.7% of the company.
• Analysts maintain a generally positive outlook, with nine Buy ratings, two Holds and two Sells, producing a “Moderate Buy” consensus and an average price target of $57.67.
• GFL shares opened at $42.75, while the company reported quarterly revenue of $1.37 billion, up 16.3% year over year, but missed earnings expectations with EPS of $0.14 versus $0.17 forecast. GFL also declared a quarterly dividend of $0.0169 per share.

Copeland Capital Management LLC lifted its stake in GFL Environmental Inc. (NYSE:GFL - Free Report) by 15.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 619,699 shares of the company's stock after acquiring an additional 84,803 shares during the period. Copeland Capital Management LLC owned 0.17% of GFL Environmental worth $25,922,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GFL. Montrusco Bolton Investments Inc. bought a new stake in shares of GFL Environmental in the 3rd quarter valued at about $1,361,000. Sax Wealth Advisors LLC purchased a new position in shares of GFL Environmental in the 3rd quarter worth approximately $735,000. GAMMA Investing LLC grew its position in shares of GFL Environmental by 853.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,030 shares of the company's stock worth $43,000 after buying an additional 922 shares during the last quarter. Versant Capital Management Inc grew its position in shares of GFL Environmental by 40.4% in the 3rd quarter. Versant Capital Management Inc now owns 2,527 shares of the company's stock worth $106,000 after buying an additional 727 shares during the last quarter. Finally, Tidal Investments LLC grew its position in shares of GFL Environmental by 15.6% in the 2nd quarter. Tidal Investments LLC now owns 27,465 shares of the company's stock worth $1,010,000 after buying an additional 3,707 shares during the last quarter. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of GFL Environmental in a research report on Monday, August 31st. TD Cowen restated a "buy" rating and issued a $65.00 target price on shares of GFL Environmental in a research note on Friday, September 11th. Barclays assumed coverage on shares of GFL Environmental in a report on Wednesday, September 2nd. They issued an "overweight" rating and a $58.00 price target on the stock. Weiss Ratings raised shares of GFL Environmental from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, August 26th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of GFL Environmental in a research report on Wednesday, September 2nd. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $57.67.

GFL Environmental Stock Up 0.9%

NYSE:GFL opened at $42.75 on Wednesday. The company has a market cap of $15.43 billion, a PE ratio of 67.27, a P/E/G ratio of 3.12 and a beta of 0.72. GFL Environmental Inc. has a twelve month low of $33.33 and a twelve month high of $47.01. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.34. The company's 50 day moving average is $41.97 and its two-hundred day moving average is $39.68.

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

GFL Environmental Dividend Announcement

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

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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