Adage Capital Partners GP L.L.C. Makes New $22.32 Million Investment in Clean Harbors, Inc. (NYSE:CLH)

Adage Capital Partners GP L.L.C. bought a new position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 97,000 shares of the business services provider's stock, valued at approximately $22,324,000. Adage Capital Partners GP L.L.C. owned 0.18% of Clean Harbors as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. Morse Asset Management Inc acquired a new position in Clean Harbors during the 3rd quarter valued at about $340,000. Barclays PLC raised its stake in Clean Harbors by 44.5% during the 3rd quarter. Barclays PLC now owns 28,056 shares of the business services provider's stock valued at $6,781,000 after acquiring an additional 8,639 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Clean Harbors in the third quarter worth $343,000. Wilmington Savings Fund Society FSB bought a new position in shares of Clean Harbors in the third quarter worth $108,000. Finally, Tidal Investments LLC grew its position in Clean Harbors by 30.2% in the 3rd quarter. Tidal Investments LLC now owns 16,635 shares of the business services provider's stock valued at $4,021,000 after buying an additional 3,862 shares in the last quarter. 90.43% of the stock is currently owned by institutional investors.

Clean Harbors Stock Up 1.9 %

Shares of NYSE CLH traded up $4.15 during trading hours on Thursday, hitting $218.09. The stock had a trading volume of 562,939 shares, compared to its average volume of 483,827. The company has a market capitalization of $11.82 billion, a P/E ratio of 29.39 and a beta of 1.11. The firm's 50-day moving average price is $201.03 and its two-hundred day moving average price is $228.00. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.76 and a current ratio of 2.21. Clean Harbors, Inc. has a 52 week low of $178.29 and a 52 week high of $267.11.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its earnings results on Wednesday, April 30th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.07. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.44 billion. Clean Harbors had a return on equity of 16.33% and a net margin of 6.83%. The business's revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $1.29 earnings per share. Analysts anticipate that Clean Harbors, Inc. will post 7.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CLH has been the subject of a number of research analyst reports. BMO Capital Markets reduced their price target on shares of Clean Harbors from $284.00 to $270.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Oppenheimer dropped their price objective on Clean Harbors from $256.00 to $254.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. Needham & Company LLC lowered their target price on Clean Harbors from $268.00 to $255.00 and set a "buy" rating on the stock in a report on Thursday. Stifel Nicolaus cut their price target on shares of Clean Harbors from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Finally, Truist Financial dropped their target price on shares of Clean Harbors from $270.00 to $250.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $255.40.

Insider Buying and Selling at Clean Harbors

In related news, insider Robert Speights sold 2,725 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $190.44, for a total value of $518,949.00. Following the completion of the sale, the insider now owns 40,008 shares in the company, valued at approximately $7,619,123.52. This trade represents a 6.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren States sold 308 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $228.79, for a total value of $70,467.32. Following the completion of the transaction, the director now directly owns 11,918 shares of the company's stock, valued at approximately $2,726,719.22. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company's stock.

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.