Insider Buying: Clean Harbors, Inc. (NYSE:CLH) CEO Purchases 2,000 Shares of Stock

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 purchased 2,000 shares of the stock in a transaction that occurred on 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 acquisition, the chief executive officer owned 82,911 shares of the company's stock, valued at approximately $19,359,718.50. The trade was a 2.47% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Clean Harbors Trading Down 0.4%

Shares of CLH stock traded down $0.94 on Friday, reaching $241.16. 43,979 shares of the stock were exchanged, compared to its average volume of 422,786. Clean Harbors, Inc. has a 1-year low of $178.29 and a 1-year high of $267.11. The stock has a market cap of $12.93 billion, a P/E ratio of 33.87 and a beta of 1.18. The company has a quick ratio of 2.07, a current ratio of 2.45 and a debt-to-equity ratio of 1.02. The firm has a 50 day moving average of $230.45 and a two-hundred day moving average of $220.25.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.36 EPS for the quarter, topping the consensus estimate of $2.33 by $0.03. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates 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 was down .2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.46 earnings per share. On average, research analysts anticipate that Clean Harbors, Inc. will post 7.89 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Needham & Company LLC dropped their price objective on shares of Clean Harbors from $268.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. BMO Capital Markets set a $268.00 price target on shares of Clean Harbors and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Truist Financial cut their price target on shares of Clean Harbors from $270.00 to $250.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Raymond James Financial lifted their price objective on Clean Harbors from $278.00 to $280.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. Finally, Wall Street Zen upgraded Clean Harbors from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $263.40.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Hopwood Financial Services Inc. acquired a new stake in shares of Clean Harbors in the first quarter worth $30,000. Kapitalo Investimentos Ltda purchased a new stake in Clean Harbors during the 4th quarter worth $32,000. Golden State Wealth Management LLC increased its holdings in Clean Harbors by 145.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 184 shares of the business services provider's stock valued at $43,000 after purchasing an additional 109 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in Clean Harbors in the first quarter valued at about $48,000. Finally, Quarry LP acquired a new position in shares of Clean Harbors during the first quarter worth about $48,000. Hedge funds and other institutional investors own 90.43% 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.