Sycomore Asset Management Trims Holdings in Clean Harbors, Inc. (NYSE:CLH)

Sycomore Asset Management reduced its stake in shares of Clean Harbors, Inc. (NYSE:CLH) by 7.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,935 shares of the business services provider’s stock after selling 1,228 shares during the quarter. Sycomore Asset Management’s holdings in Clean Harbors were worth $3,633,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CLH. Innealta Capital LLC purchased a new stake in Clean Harbors in the 2nd quarter valued at about $25,000. Rise Advisors LLC purchased a new stake in shares of Clean Harbors in the first quarter valued at approximately $27,000. GAMMA Investing LLC grew its stake in Clean Harbors by 47.9% in the first quarter. GAMMA Investing LLC now owns 173 shares of the business services provider’s stock worth $35,000 after purchasing an additional 56 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in Clean Harbors during the 2nd quarter worth $56,000. Finally, Creekmur Asset Management LLC bought a new stake in Clean Harbors during the 4th quarter valued at $50,000. 90.43% of the stock is currently owned by institutional investors.

Clean Harbors Trading Up 1.5 %

NYSE CLH opened at $241.99 on Tuesday. Clean Harbors, Inc. has a 12-month low of $132.92 and a 12-month high of $251.65. The company has a fifty day simple moving average of $238.05 and a two-hundred day simple moving average of $220.60. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.14. The stock 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 issued its earnings results on Wednesday, July 31st. The business services provider reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.25. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. Clean Harbors had a return on equity of 17.12% and a net margin of 6.97%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $2.13 EPS. On average, analysts forecast that Clean Harbors, Inc. will post 7.65 earnings per share for the current year.

Insider Transactions at Clean Harbors

In related news, CEO Michael Louis Battles sold 10,000 shares of the 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 in the company, valued at approximately $18,955,400.64. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Lauren States sold 309 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $244.09, for a total value of $75,423.81. Following the completion of the transaction, the director now directly owns 13,458 shares in the company, valued at approximately $3,284,963.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the chief executive officer now owns 77,136 shares of the company’s stock, valued at approximately $18,955,400.64. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CLH. StockNews.com upgraded Clean Harbors from a “buy” rating to a “strong-buy” rating in a research note on Friday. Robert W. Baird boosted their target price on shares of Clean Harbors from $242.00 to $268.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Oppenheimer raised their price target on shares of Clean Harbors from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Stifel Nicolaus reiterated 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. Finally, Truist Financial increased 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. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $242.40.

About Clean Harbors

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.