Parallel Advisors LLC Raises Stock Holdings in Clean Harbors, Inc. $CLH

Parallel Advisors LLC lifted its holdings in Clean Harbors, Inc. (NYSE:CLH) by 47.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 345 shares of the business services provider’s stock after buying an additional 111 shares during the quarter. Parallel Advisors LLC’s holdings in Clean Harbors were worth $80,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CLH. Hopwood Financial Services Inc. bought a new stake in Clean Harbors during the 1st quarter valued at $30,000. Quarry LP acquired a new stake in Clean Harbors during the 1st quarter worth about $48,000. Banque Cantonale Vaudoise acquired a new stake in Clean Harbors during the 1st quarter worth about $48,000. Blue Trust Inc. lifted its position in Clean Harbors by 25.8% during the 1st quarter. Blue Trust Inc. now owns 273 shares of the business services provider’s stock worth $54,000 after acquiring an additional 56 shares during the period. Finally, Horizon Investments LLC lifted its position in Clean Harbors by 42.0% during the 1st quarter. Horizon Investments LLC now owns 284 shares of the business services provider’s stock worth $56,000 after acquiring an additional 84 shares during the period. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Clean Harbors Price Performance

Shares of Clean Harbors stock opened at $233.23 on Thursday. The company has a quick ratio of 2.07, a current ratio of 2.45 and a debt-to-equity ratio of 1.02. Clean Harbors, Inc. has a twelve month low of $178.29 and a twelve month high of $267.11. The business has a 50-day moving average price of $238.51 and a 200 day moving average price of $223.80. The firm has a market cap of $12.51 billion, a PE ratio of 32.76 and a beta of 1.22.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.03. Clean Harbors had a return on equity of 14.82% and a net margin of 6.48%.The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the business earned $2.46 EPS. Clean Harbors’s revenue for the quarter was down .2% compared to the same quarter last year. Sell-side analysts predict that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Andrea Robertson sold 836 shares of Clean Harbors stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $233.64, for a total value of $195,323.04. Following the sale, the director directly owned 9,888 shares in the company, valued at approximately $2,310,232.32. The trade was a 7.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Louis Battles acquired 2,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $233.50 per share, for a total transaction of $467,000.00. Following the completion of the acquisition, the chief executive officer owned 82,911 shares in the company, valued at $19,359,718.50. The trade was a 2.47% increase in their position. The disclosure for this purchase can be found here. Insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CLH. UBS Group lifted their price target on Clean Harbors from $220.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. BMO Capital Markets set a $268.00 price objective on Clean Harbors and gave the company an “outperform” rating in a research note on Thursday, July 31st. Raymond James Financial lifted their price objective on Clean Harbors from $278.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 31st. Barclays initiated coverage on Clean Harbors in a research note on Friday, September 19th. They set an “equal weight” rating and a $253.00 price objective for the company. Finally, Oppenheimer lifted their price objective on Clean Harbors from $254.00 to $256.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $262.45.

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.