Clearbridge Investments LLC Increases Stock Holdings in Clean Harbors, Inc. (NYSE:CLH)

Clearbridge Investments LLC lifted its stake in shares of Clean Harbors, Inc. (NYSE:CLH) by 30.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,058,415 shares of the business services provider’s stock after acquiring an additional 248,240 shares during the quarter. Clearbridge Investments LLC’s holdings in Clean Harbors were worth $239,361,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Dana Investment Advisors Inc. raised its stake in Clean Harbors by 366.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 46,645 shares of the business services provider’s stock worth $10,549,000 after acquiring an additional 36,651 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Clean Harbors by 10.6% during the second quarter. Cetera Investment Advisers now owns 16,626 shares of the business services provider’s stock worth $3,760,000 after purchasing an additional 1,597 shares during the last quarter. Ecofi Investissements SA acquired a new stake in shares of Clean Harbors during the second quarter worth about $6,213,000. Seaport Global Advisors LLC acquired a new stake in shares of Clean Harbors during the second quarter worth about $688,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Clean Harbors by 24.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the business services provider’s stock valued at $271,000 after purchasing an additional 234 shares during the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.

Clean Harbors Stock Down 0.3 %

Shares of NYSE:CLH opened at $240.95 on Wednesday. Clean Harbors, Inc. has a fifty-two week low of $132.92 and a fifty-two week high of $251.65. The company has a quick ratio of 1.76, a current ratio of 2.10 and a debt-to-equity ratio of 1.14. The firm’s 50-day simple moving average is $238.20 and its 200-day simple moving average is $220.97. The company has a market cap of $13.00 billion, a price-to-earnings ratio of 34.87 and a beta of 1.20.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.25. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. Clean Harbors had a return on equity of 17.12% and a net margin of 6.97%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.13 EPS. As a group, equities research analysts predict that Clean Harbors, Inc. will post 7.65 earnings per share for the current year.

Insider Activity at Clean Harbors

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

Analysts Set New Price Targets

Several research analysts have commented on CLH shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $275.00 price target (up previously from $240.00) on shares of Clean Harbors in a research report on Thursday, August 1st. 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. Needham & Company LLC raised their price objective on shares of Clean Harbors from $235.00 to $274.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Truist Financial lifted their price objective 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. Finally, Robert W. Baird increased their target price on shares of Clean Harbors from $242.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.