Seaport Global Advisors LLC Makes New $688,000 Investment in Clean Harbors, Inc. (NYSE:CLH)

Seaport Global Advisors LLC bought a new stake in Clean Harbors, Inc. (NYSE:CLH) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,044 shares of the business services provider’s stock, valued at approximately $688,000. Clean Harbors comprises 2.5% of Seaport Global Advisors LLC’s holdings, making the stock its 18th biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lazard Freres Gestion S.A.S. bought a new position in Clean Harbors in the 2nd quarter worth about $42,968,000. Wellington Management Group LLP increased its position in Clean Harbors by 5.3% in the 4th 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 increased its position in Clean Harbors by 93.1% in the 1st 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 position in Clean Harbors by 20.3% during the 2nd quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock worth $121,505,000 after acquiring an additional 90,756 shares during the period. Finally, Spirepoint Private Client LLC bought a new position in shares of Clean Harbors in the first quarter worth $16,594,000. Institutional investors and hedge funds own 90.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CLH. StockNews.com upgraded shares of Clean Harbors from a “buy” rating to a “strong-buy” rating in a research note on Friday. The Goldman Sachs Group upped their price target on shares of Clean Harbors from $223.00 to $256.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Robert W. Baird boosted 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 lifted their price target on Clean Harbors from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Truist Financial upped their price target on Clean Harbors from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $242.40.

Insiders Place Their Bets

In other Clean Harbors news, CEO Michael Louis Battles sold 10,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $245.74, for a total value of $2,457,400.00. Following the completion of the sale, the chief executive officer now owns 77,136 shares of the company’s stock, valued at $18,955,400.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 transaction, the chief executive officer now owns 77,136 shares of the company’s stock, valued at $18,955,400.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lauren States sold 309 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $244.09, for a total transaction of $75,423.81. Following the completion of the sale, the director now owns 13,458 shares of the company’s stock, valued at $3,284,963.22. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Clean Harbors Trading Down 2.0 %

Shares of NYSE CLH opened at $238.43 on Monday. The stock has a market cap of $12.86 billion, a price-to-earnings ratio of 34.51 and a beta of 1.20. The business has a 50 day simple moving average of $237.89 and a 200 day simple moving average of $220.22. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.76 and a current ratio of 2.10. Clean Harbors, Inc. has a 52 week low of $132.92 and a 52 week high of $251.65.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.46 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the business posted $2.13 EPS. Clean Harbors’s quarterly revenue was up 10.9% on a year-over-year basis. On average, research analysts predict that Clean Harbors, Inc. will post 7.65 earnings per share for the current fiscal year.

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.