GAMMA Investing LLC Increases Position in Clean Harbors, Inc. $CLH

GAMMA Investing LLC grew its holdings in shares of Clean Harbors, Inc. (NYSE:CLH) by 93.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 812 shares of the business services provider’s stock after purchasing an additional 393 shares during the period. GAMMA Investing LLC’s holdings in Clean Harbors were worth $188,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Hopwood Financial Services Inc. purchased a new position in Clean Harbors during the first quarter valued at $30,000. Banque Cantonale Vaudoise bought a new position in shares of Clean Harbors during the first quarter valued at $48,000. Quarry LP bought a new position in shares of Clean Harbors during the first quarter valued at $48,000. Blue Trust Inc. raised its position in shares of Clean Harbors by 25.8% in the 1st quarter. Blue Trust Inc. now owns 273 shares of the business services provider’s stock worth $54,000 after purchasing an additional 56 shares during the last quarter. Finally, Horizon Investments LLC boosted its stake in Clean Harbors by 42.0% in the 1st quarter. Horizon Investments LLC now owns 284 shares of the business services provider’s stock worth $56,000 after purchasing an additional 84 shares in the last quarter. 90.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CLH. Barclays initiated coverage on shares of 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. Oppenheimer increased their price target 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. Raymond James Financial boosted their price objective on shares of Clean Harbors from $278.00 to $280.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 31st. UBS Group upped their price objective on Clean Harbors from $220.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Finally, BMO Capital Markets set a $268.00 target price on Clean Harbors and gave the company an “outperform” rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $262.45.

Insider Buying and Selling at Clean Harbors

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

Clean Harbors Price Performance

Shares of NYSE:CLH opened at $231.72 on Monday. The company has a quick ratio of 2.07, a current ratio of 2.45 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $12.43 billion, a PE ratio of 32.55 and a beta of 1.22. The firm’s 50 day moving average price is $238.64 and its 200-day moving average price is $224.82. 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 (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.03. Clean Harbors had a net margin of 6.48% and a return on equity of 14.82%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the business posted $2.46 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts expect that Clean Harbors, Inc. will post 7.89 EPS for the current year.

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.