Driehaus Capital Management LLC Purchases 18,058 Shares of Clean Harbors, Inc. (NYSE:CLH)

Driehaus Capital Management LLC raised its position in shares of Clean Harbors, Inc. (NYSE:CLH) by 17.1% in the second quarter, Holdings Channel reports. The fund owned 123,813 shares of the business services provider’s stock after buying an additional 18,058 shares during the quarter. Driehaus Capital Management LLC’s holdings in Clean Harbors were worth $28,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CLH. Lazard Freres Gestion S.A.S. bought a new stake in Clean Harbors during the second quarter valued at about $42,968,000. Wellington Management Group LLP boosted its holdings in Clean Harbors by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 3,654,929 shares of the business services provider’s stock valued at $637,822,000 after acquiring an additional 182,622 shares during the period. DAVENPORT & Co LLC boosted its holdings in Clean Harbors by 93.1% during the first quarter. DAVENPORT & Co LLC now owns 264,416 shares of the business services provider’s stock valued at $53,124,000 after acquiring an additional 127,498 shares during the period. Marshall Wace LLP boosted its holdings in Clean Harbors by 20.3% during the second quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock valued at $121,505,000 after acquiring an additional 90,756 shares during the period. Finally, Spirepoint Private Client LLC bought a new stake in shares of Clean Harbors in the first quarter valued at about $16,594,000. 90.43% of the stock is currently owned by institutional investors.

Clean Harbors Stock Performance

NYSE:CLH opened at $238.43 on Friday. Clean Harbors, Inc. has a 1 year low of $132.92 and a 1 year high of $251.65. The firm has a 50 day moving average of $237.89 and a 200-day moving average of $219.99. 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 capitalization of $12.86 billion, a P/E ratio of 34.51 and a beta of 1.20.

Clean Harbors (NYSE:CLH) last posted its earnings results on Wednesday, July 31st. The business services provider reported $2.46 earnings per share (EPS) 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 company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the company posted $2.13 earnings per share. Clean Harbors’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Clean Harbors, Inc. will post 7.65 EPS for the current fiscal year.

Insider Activity

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 completion of the transaction, the chief executive officer now 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 accessible through this hyperlink. In related news, Director Lauren States sold 309 shares of the business’s stock in a transaction that occurred 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 owns 13,458 shares in the company, valued at approximately $3,284,963.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Louis Battles sold 10,000 shares of the business’s stock in a transaction that occurred on 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. 5.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Clean Harbors from a “buy” rating to a “strong-buy” rating in a research note on Friday. 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 note on Thursday, July 11th. Robert W. Baird increased their target price on shares of Clean Harbors from $242.00 to $268.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Oppenheimer increased their target price on shares of Clean Harbors from $245.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $275.00 price target (up previously from $240.00) on shares of Clean Harbors in a research report on Thursday, August 1st. One equities research 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 company’s stock. According to data from MarketBeat, Clean Harbors currently has a consensus rating of “Buy” and a consensus price target 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.