Clearbridge Investments LLC Grows Stock Holdings in Clean Harbors, Inc. (NYSE:CLH)

Clearbridge Investments LLC grew its stake in Clean Harbors, Inc. (NYSE:CLH) by 30.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,058,415 shares of the business services provider’s stock after purchasing an additional 248,240 shares during the period. Clearbridge Investments LLC owned approximately 1.96% of Clean Harbors worth $239,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stifel Financial Corp grew its holdings in Clean Harbors by 17.7% in the 4th quarter. Stifel Financial Corp now owns 85,718 shares of the business services provider’s stock valued at $14,959,000 after buying an additional 12,900 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Clean Harbors by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 23,158 shares of the business services provider’s stock valued at $4,041,000 after purchasing an additional 222 shares during the period. KBC Group NV purchased a new stake in shares of Clean Harbors in the fourth quarter valued at about $148,000. Hudson Edge Investment Partners Inc. acquired a new stake in Clean Harbors during the fourth quarter worth about $447,000. Finally, Pinebridge Investments L.P. raised its stake in Clean Harbors by 54.3% during the fourth quarter. Pinebridge Investments L.P. now owns 7,214 shares of the business services provider’s stock worth $1,259,000 after purchasing an additional 2,540 shares during the period. Institutional investors and hedge funds own 90.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CLH has been the subject of several analyst reports. Truist Financial increased their price target on shares of Clean Harbors from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. StockNews.com raised Clean Harbors from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 27th. Oppenheimer upped their price target on Clean Harbors from $245.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Robert W. Baird raised their price objective on Clean Harbors from $242.00 to $268.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC boosted their price objective on shares of Clean Harbors from $235.00 to $274.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $242.40.

Clean Harbors Stock Down 0.3 %

Shares of NYSE:CLH opened at $240.95 on Wednesday. The firm has a market capitalization of $13.00 billion, a PE ratio of 34.87 and a beta of 1.20. Clean Harbors, Inc. has a 1 year low of $132.92 and a 1 year high of $251.65. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.10 and a quick ratio of 1.76. The firm’s 50-day moving average is $238.20 and its two-hundred day moving average is $220.97.

Clean Harbors (NYSE:CLH) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.25. Clean Harbors had a net margin of 6.97% and a return on equity of 17.12%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the firm earned $2.13 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Analysts predict that Clean Harbors, Inc. will post 7.65 EPS for the current year.

Insider Activity at Clean Harbors

In other Clean Harbors news, CEO Michael Louis Battles sold 10,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $245.74, for a total transaction of $2,457,400.00. Following the sale, the chief executive officer now owns 77,136 shares in the company, valued at approximately $18,955,400.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Clean Harbors news, CEO Michael Louis Battles sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $245.74, for a total transaction of $2,457,400.00. Following the completion of the transaction, the chief executive officer now owns 77,136 shares in the company, valued at approximately $18,955,400.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren States sold 309 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $244.09, for a total transaction of $75,423.81. Following the completion of the sale, the director now directly owns 13,458 shares in the company, valued at $3,284,963.22. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Clean Harbors Company Profile

Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.