CIBC Asset Management Inc Increases Stock Position in Clean Harbors, Inc. (NYSE:CLH)

CIBC Asset Management Inc boosted its holdings in Clean Harbors, Inc. (NYSE:CLH) by 3.5% in the 3rd quarter, Holdings Channel reports. The firm owned 1,563 shares of the business services provider’s stock after purchasing an additional 53 shares during the period. CIBC Asset Management Inc’s holdings in Clean Harbors were worth $378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Janus Henderson Group PLC grew its holdings in shares of Clean Harbors by 5.2% during the first quarter. Janus Henderson Group PLC now owns 1,586,461 shares of the business services provider’s stock worth $319,371,000 after buying an additional 78,848 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Clean Harbors by 30.6% in the second quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock valued at $239,361,000 after purchasing an additional 248,240 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Clean Harbors by 12.6% during the third quarter. Handelsbanken Fonder AB now owns 570,826 shares of the business services provider’s stock worth $137,974,000 after purchasing an additional 63,800 shares during the period. Marshall Wace LLP grew its position in Clean Harbors by 20.3% in the 2nd quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock valued at $121,505,000 after buying an additional 90,756 shares during the last quarter. Finally, Artemis Investment Management LLP increased its stake in Clean Harbors by 13.7% in the 2nd quarter. Artemis Investment Management LLP now owns 490,668 shares of the business services provider’s stock valued at $110,965,000 after buying an additional 59,033 shares during the period. Institutional investors and hedge funds own 90.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Robert W. Baird lowered their target price on shares of Clean Harbors from $300.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Oppenheimer lifted their price target on Clean Harbors from $252.00 to $270.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. StockNews.com downgraded shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC cut their price objective on Clean Harbors from $274.00 to $268.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Truist Financial raised their price target on Clean Harbors from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Clean Harbors has an average rating of “Buy” and an average target price of $254.33.

Clean Harbors Stock Performance

Shares of NYSE:CLH opened at $250.03 on Friday. The company has a market cap of $13.48 billion, a P/E ratio of 32.56 and a beta of 1.20. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.76 and a current ratio of 2.10. Clean Harbors, Inc. has a one year low of $158.42 and a one year high of $267.11. The business’s 50-day simple moving average is $249.68 and its 200 day simple moving average is $234.66.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.03). The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Clean Harbors had a net margin of 7.19% and a return on equity of 17.51%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.68 EPS. On average, sell-side analysts forecast that Clean Harbors, Inc. will post 7.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lauren States sold 308 shares of Clean Harbors stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $260.74, for a total value of $80,307.92. Following the completion of the transaction, the director now directly owns 13,150 shares in the company, valued at approximately $3,428,731. This trade represents a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Louis Battles sold 10,000 shares of the company’s 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 sale, the chief executive officer now owns 77,136 shares in the company, valued at $18,955,400.64. The trade was a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,586 shares of company stock worth $4,351,841 in the last quarter. 5.90% of the stock is owned by corporate insiders.

Clean Harbors Company 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.