Steph & Co. Trims Holdings in Clean Harbors, Inc. $CLH

Steph & Co. reduced its stake in Clean Harbors, Inc. (NYSE:CLH) by 18.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,422 shares of the business services provider’s stock after selling 332 shares during the quarter. Steph & Co.’s holdings in Clean Harbors were worth $329,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CLH. Public Employees Retirement System of Ohio boosted its holdings in Clean Harbors by 0.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 15,726 shares of the business services provider’s stock valued at $3,636,000 after purchasing an additional 48 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Clean Harbors by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 10,372 shares of the business services provider’s stock worth $2,044,000 after acquiring an additional 52 shares during the period. Blue Trust Inc. raised its position in Clean Harbors by 25.8% in the first quarter. Blue Trust Inc. now owns 273 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 56 shares during the period. Xponance Inc. lifted its stake in shares of Clean Harbors by 0.9% in the 1st quarter. Xponance Inc. now owns 6,703 shares of the business services provider’s stock valued at $1,321,000 after purchasing an additional 61 shares during the last quarter. Finally, Atticus Wealth Management LLC grew its holdings in shares of Clean Harbors by 13.9% during the 2nd quarter. Atticus Wealth Management LLC now owns 532 shares of the business services provider’s stock worth $123,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 90.43% of the company’s stock.

Analyst Upgrades and Downgrades

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

Clean Harbors Price Performance

CLH stock opened at $231.75 on Friday. The company has a current ratio of 2.45, a quick ratio of 2.07 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $12.43 billion, a P/E ratio of 32.55 and a beta of 1.22. The business has a 50 day simple moving average of $238.56 and a 200-day simple moving average of $224.10. Clean Harbors, Inc. has a twelve month low of $178.29 and a twelve month high of $267.11.

Clean Harbors (NYSE:CLH) last announced its 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 company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the business posted $2.46 EPS. The company’s revenue was down .2% on a year-over-year basis. As a group, equities analysts anticipate that Clean Harbors, Inc. will post 7.89 EPS for the current year.

Insider Transactions at Clean Harbors

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

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.