Night Squared LP Invests $5.44 Million in Clean Harbors, Inc. $CLH

Key Points

• Night Squared LP purchased 27,597 shares of Clean Harbors, Inc. ($CLH) valued at approximately $5.4 million during the first quarter, representing 3.2% of their portfolio.
• Analyst price targets for Clean Harbors were recently increased by multiple firms, with Oppenheimer setting a new target of $256 and Raymond James raising theirs to $280, indicating a mix of strong buy recommendations.
• Insider trading activity shows CEO Michael Battles buying 2,000 shares for $467,000, while director Alison A. Quirk sold 893 shares, marking a significant shift in their respective stock positions.

Night Squared LP bought a new stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 27,597 shares of the business services provider's stock, valued at approximately $5,439,000. Clean Harbors accounts for approximately 3.2% of Night Squared LP's portfolio, making the stock its 13th biggest holding. Night Squared LP owned 0.05% of Clean Harbors as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CLH. Wellington Management Group LLP grew its stake in shares of Clean Harbors by 30.9% during the 1st quarter. Wellington Management Group LLP now owns 5,293,796 shares of the business services provider's stock worth $1,043,407,000 after purchasing an additional 1,249,704 shares during the period. LBP AM SA grew its stake in shares of Clean Harbors by 137.4% during the 1st quarter. LBP AM SA now owns 193,639 shares of the business services provider's stock worth $38,166,000 after purchasing an additional 112,073 shares during the period. Northern Trust Corp grew its stake in shares of Clean Harbors by 28.1% during the 4th quarter. Northern Trust Corp now owns 498,217 shares of the business services provider's stock worth $114,660,000 after purchasing an additional 109,209 shares during the period. DAVENPORT & Co LLC grew its stake in shares of Clean Harbors by 32.0% during the 1st quarter. DAVENPORT & Co LLC now owns 448,677 shares of the business services provider's stock worth $88,446,000 after purchasing an additional 108,779 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Clean Harbors by 309.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 143,977 shares of the business services provider's stock worth $28,378,000 after purchasing an additional 108,779 shares during the period. 90.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on CLH. Raymond James Financial upped their price target on shares of Clean Harbors from $278.00 to $280.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 31st. Oppenheimer increased their price objective on shares of Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. UBS Group increased their price objective on shares of Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Finally, BMO Capital Markets set a $268.00 price objective on shares of Clean Harbors and gave the company an "outperform" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $263.40.

Insider Buying and Selling

In other news, Director Alison A. Quirk sold 893 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $223.69, for a total transaction of $199,755.17. Following the transaction, the director directly owned 2,978 shares in the company, valued at $666,148.82. This represents a 23.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brian P. Weber sold 3,035 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $227.17, for a total transaction of $689,460.95. Following the transaction, the executive vice president owned 54,548 shares in the company, valued at approximately $12,391,669.16. The trade was a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,840 shares of company stock worth $2,903,497 in the last 90 days. 5.60% of the stock is currently owned by corporate insiders.

Clean Harbors Trading Down 0.0%

NYSE:CLH traded down $0.04 on Wednesday, reaching $240.83. The stock had a trading volume of 270,253 shares, compared to its average volume of 412,098. The company has a market cap of $12.92 billion, a price-to-earnings ratio of 33.82 and a beta of 1.22. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.45 and a quick ratio of 2.07. The firm's fifty day moving average is $236.68 and its two-hundred day moving average is $221.08. Clean Harbors, Inc. has a 12-month low of $178.29 and a 12-month high of $267.11.

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

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.