Clean Harbors, Inc. (NYSE:CLH) CEO Michael Louis Battles Buys 2,000 Shares

Key Points

• Michael Louis Battles, the CEO of Clean Harbors, purchased 2,000 shares of the company at an average cost of $233.50 per share, totaling $467,000, which increases his ownership stake by 2.47%.
• Clean Harbors reported $2.36 earnings per share for the last quarter, beating analysts' expectations of $2.33, despite a slight year-over-year revenue decline of 0.2%.
• Analysts set a new consensus target price of $263.40 for Clean Harbors, with most analysts rating the stock as a "Moderate Buy", indicating positive future expectations for the company.

Clean Harbors, Inc. (NYSE:CLH - Get Free Report) CEO Michael Louis Battles bought 2,000 shares of Clean Harbors stock in a transaction dated Friday, August 1st. The shares were bought at an average cost of $233.50 per share, for a total transaction of $467,000.00. Following the completion of the acquisition, the chief executive officer owned 82,911 shares in the company, valued at $19,359,718.50. This represents a 2.47% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Clean Harbors Trading Up 0.7%

Shares of CLH traded up $1.71 during mid-day trading on Monday, reaching $235.88. 199,037 shares of the company were exchanged, compared to its average volume of 423,461. Clean Harbors, Inc. has a 52 week low of $178.29 and a 52 week high of $267.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.07 and a current ratio of 2.45. The stock has a market capitalization of $12.65 billion, a PE ratio of 33.12 and a beta of 1.18. The business has a 50 day simple moving average of $229.36 and a two-hundred day simple moving average of $219.98.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its earnings results on Wednesday, July 30th. The business services provider reported $2.36 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.03. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.59 billion. Clean Harbors had a return on equity of 14.82% and a net margin of 6.48%. The firm's revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $2.46 earnings per share. On average, analysts predict that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. BMO Capital Markets set a $268.00 target price on Clean Harbors and gave the stock an "outperform" rating in a report on Thursday. Oppenheimer upped their price objective on Clean Harbors from $254.00 to $256.00 and gave the stock an "outperform" rating in a research report on Thursday. Robert W. Baird upped their price objective on Clean Harbors from $250.00 to $255.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Wall Street Zen upgraded Clean Harbors from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Finally, Needham & Company LLC dropped their price objective on Clean Harbors from $268.00 to $255.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Clean Harbors currently has a consensus rating of "Moderate Buy" and an average price target of $263.40.

Institutional Investors Weigh In On Clean Harbors

A number of hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Clean Harbors by 30.9% during the first quarter. Wellington Management Group LLP now owns 5,293,796 shares of the business services provider's stock valued at $1,043,407,000 after buying an additional 1,249,704 shares during the last quarter. Select Equity Group L.P. boosted its position in shares of Clean Harbors by 4.8% during the fourth quarter. Select Equity Group L.P. now owns 1,751,478 shares of the business services provider's stock valued at $403,085,000 after buying an additional 80,436 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Clean Harbors by 0.8% during the fourth quarter. Janus Henderson Group PLC now owns 1,612,082 shares of the business services provider's stock worth $371,002,000 after acquiring an additional 13,167 shares during the period. Bessemer Group Inc. lifted its holdings in Clean Harbors by 0.9% during the fourth quarter. Bessemer Group Inc. now owns 1,095,163 shares of the business services provider's stock worth $252,042,000 after acquiring an additional 9,595 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Clean Harbors by 127.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 899,566 shares of the business services provider's stock worth $177,304,000 after acquiring an additional 504,290 shares during the period. Institutional investors and hedge funds own 90.43% of the company's stock.

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.

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