Quarry LP Sells 49,637 Shares of Clean Harbors, Inc. (NYSE:CLH)

Quarry LP lowered its stake in shares of Clean Harbors, Inc. (NYSE:CLH) by 98.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 660 shares of the business services provider’s stock after selling 49,637 shares during the quarter. Quarry LP’s holdings in Clean Harbors were worth $149,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Grayhawk Investment Strategies Inc. acquired a new position in Clean Harbors during the 4th quarter valued at about $732,000. Mountain Pacific Investment Advisers Inc. ID acquired a new position in Clean Harbors during the 1st quarter valued at about $14,161,000. Perpetual Ltd lifted its position in Clean Harbors by 9.6% during the 1st quarter. Perpetual Ltd now owns 52,801 shares of the business services provider’s stock valued at $10,629,000 after purchasing an additional 4,606 shares during the period. Wellington Management Group LLP lifted its position in Clean Harbors by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 3,654,929 shares of the business services provider’s stock valued at $637,822,000 after purchasing an additional 182,622 shares during the period. Finally, Swedbank AB lifted its position in Clean Harbors by 83.3% during the 2nd quarter. Swedbank AB now owns 110,000 shares of the business services provider’s stock valued at $24,876,000 after purchasing an additional 50,000 shares during the period. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Clean Harbors Stock Performance

Shares of CLH opened at $241.99 on Tuesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.76 and a current ratio of 2.10. Clean Harbors, Inc. has a twelve month low of $132.92 and a twelve month high of $251.65. The firm’s 50 day moving average price is $238.05 and its two-hundred day moving average price is $220.60. The firm has a market cap of $13.05 billion, a P/E ratio of 35.02 and a beta of 1.20.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm posted $2.13 earnings per share. The business’s revenue was up 10.9% on a year-over-year basis. On average, analysts forecast that Clean Harbors, Inc. will post 7.65 EPS for the current fiscal year.

Insider Buying and Selling at Clean Harbors

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

Analysts Set New Price Targets

A number of research firms have issued reports on CLH. Truist Financial upped their target price on shares of Clean Harbors from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. StockNews.com upgraded shares of Clean Harbors from a “buy” rating to a “strong-buy” rating in a research report on Friday. Needham & Company LLC increased their price target on shares of Clean Harbors from $235.00 to $274.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group lifted their price objective on shares of Clean Harbors from $223.00 to $256.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $275.00 price objective (up previously from $240.00) on shares of Clean Harbors in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $242.40.

Clean Harbors 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.