Copeland Capital Management LLC Trims Position in GFL Environmental Inc. $GFL

Copeland Capital Management LLC trimmed its stake in GFL Environmental Inc. (NYSE:GFL) by 2.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 636,915 shares of the company’s stock after selling 12,996 shares during the period. Copeland Capital Management LLC’s holdings in GFL Environmental were worth $30,177,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Munro Partners purchased a new position in shares of GFL Environmental during the second quarter valued at $12,926,000. JPMorgan Chase & Co. grew its holdings in GFL Environmental by 11.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 994,849 shares of the company’s stock worth $50,200,000 after acquiring an additional 105,186 shares in the last quarter. S&CO Inc. grew its holdings in GFL Environmental by 86.6% during the 2nd quarter. S&CO Inc. now owns 114,260 shares of the company’s stock worth $5,765,000 after acquiring an additional 53,030 shares in the last quarter. Intech Investment Management LLC purchased a new position in GFL Environmental during the 2nd quarter valued at about $457,000. Finally, Korea Investment CORP raised its holdings in shares of GFL Environmental by 90.1% in the 2nd quarter. Korea Investment CORP now owns 117,099 shares of the company’s stock valued at $5,899,000 after purchasing an additional 55,500 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Stock Up 1.3%

GFL Environmental stock opened at $43.81 on Tuesday. GFL Environmental Inc. has a 1-year low of $41.29 and a 1-year high of $52.00. The business has a fifty day moving average price of $44.41 and a 200-day moving average price of $46.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $15.73 billion, a price-to-earnings ratio of 6.87 and a beta of 0.89.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). GFL Environmental had a net margin of 50.99% and a return on equity of 3.06%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the business posted $0.33 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts forecast that GFL Environmental Inc. will post 0.58 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th were given a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 15th. GFL Environmental’s payout ratio is currently 0.94%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of GFL Environmental in a research note on Monday, November 24th. They set a “neutral” rating and a $50.00 price objective on the stock. William Blair assumed coverage on GFL Environmental in a research report on Thursday, September 25th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. reduced their price target on GFL Environmental from $54.00 to $46.75 and set a “neutral” rating for the company in a research report on Friday, November 7th. Wells Fargo & Company began coverage on GFL Environmental in a research note on Thursday, November 13th. They set an “overweight” rating for the company. Finally, Citigroup lifted their target price on GFL Environmental from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $57.08.

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.