Copeland Capital Management LLC Has $36.75 Million Stake in GFL Environmental Inc. (NYSE:GFL)

Copeland Capital Management LLC increased its position in shares of GFL Environmental Inc. (NYSE:GFL) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 921,377 shares of the company’s stock after purchasing an additional 19,675 shares during the period. Copeland Capital Management LLC owned approximately 0.24% of GFL Environmental worth $36,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Tobam acquired a new stake in shares of GFL Environmental during the first quarter worth $25,000. Headlands Technologies LLC acquired a new position in GFL Environmental in the first quarter valued at about $39,000. Cape Investment Advisory Inc. raised its stake in GFL Environmental by 325.0% in the first quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock valued at $44,000 after purchasing an additional 975 shares in the last quarter. Fifth Third Bancorp lifted its position in GFL Environmental by 51.1% during the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after purchasing an additional 459 shares during the period. Finally, Central Pacific Bank Trust Division bought a new position in GFL Environmental in the 1st quarter valued at about $69,000. 64.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GFL. Scotiabank started coverage on shares of GFL Environmental in a report on Friday, October 4th. They set a “sector outperform” rating and a $50.00 price target for the company. Raymond James raised their target price on GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. BMO Capital Markets lowered GFL Environmental from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $43.00 to $42.00 in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada upped their price objective on GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, GFL Environmental has an average rating of “Moderate Buy” and a consensus price target of $43.56.

GFL Environmental Stock Performance

NYSE:GFL opened at $41.48 on Tuesday. The stock’s 50-day moving average is $40.81 and its 200-day moving average is $37.62. The stock has a market cap of $15.62 billion, a P/E ratio of -27.65 and a beta of 1.16. GFL Environmental Inc. has a 1-year low of $26.87 and a 1-year high of $43.79. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.45.

GFL Environmental (NYSE:GFL) last posted its earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. Equities research analysts anticipate that GFL Environmental Inc. will post 0.62 earnings per share for the current year.

GFL Environmental Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be given a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Wednesday, October 16th. GFL Environmental’s dividend payout ratio is currently -3.33%.

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.