5,076,220 Shares in Clean Harbors, Inc. $CLH Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 5.08 million Clean Harbors shares during the second quarter, building a 9.62% stake valued at approximately $1.52 billion. Institutional investors and hedge funds collectively own 90.43% of the company.
• Clean Harbors reported strong quarterly results, with EPS of $3.22 exceeding estimates of $2.81 and revenue rising 11.9% year over year to $1.74 billion. Shares recently traded at $322.60, down 0.8%.
• Analysts remain generally bullish, with a consensus “Moderate Buy” rating and an average price target of $354.57; several firms recently raised their targets, including Needham to $390.00. Insiders, however, sold 4,078 shares worth about $1.28 million over the past three months.

BlackRock Inc. acquired a new position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,076,220 shares of the business services provider's stock, valued at approximately $1,516,521,000. BlackRock Inc. owned 9.62% of Clean Harbors at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CLH. Janus Henderson Group PLC grew its holdings in shares of Clean Harbors by 10.0% during the 4th quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider's stock worth $557,146,000 after purchasing an additional 215,659 shares during the period. State Street Corp grew its stake in Clean Harbors by 0.8% during the third quarter. State Street Corp now owns 1,515,621 shares of the business services provider's stock worth $351,958,000 after buying an additional 12,452 shares during the period. Bessemer Group Inc. increased its position in shares of Clean Harbors by 1.8% in the first quarter. Bessemer Group Inc. now owns 932,027 shares of the business services provider's stock worth $267,239,000 after acquiring an additional 16,747 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Clean Harbors by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 917,779 shares of the business services provider's stock valued at $215,247,000 after acquiring an additional 11,020 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Clean Harbors by 10.0% during the 1st quarter. First Trust Advisors LP now owns 778,441 shares of the business services provider's stock valued at $223,202,000 after acquiring an additional 70,447 shares in the last quarter. 90.43% of the stock is owned by institutional investors and hedge funds.

Clean Harbors Trading Down 0.8%

Shares of NYSE:CLH opened at $322.60 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.80 and a current ratio of 2.13. The stock has a market capitalization of $17.03 billion, a price-to-earnings ratio of 39.15, a PEG ratio of 2.14 and a beta of 0.86. Clean Harbors, Inc. has a 1-year low of $201.34 and a 1-year high of $335.94. The company has a 50 day moving average price of $304.58 and a 200 day moving average price of $294.40.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.81 by $0.41. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%.The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the firm earned $2.36 earnings per share. Clean Harbors's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts anticipate that Clean Harbors, Inc. will post 9.51 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Andrea Robertson sold 789 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $314.01, for a total transaction of $247,753.89. Following the completion of the sale, the director directly owned 8,979 shares in the company, valued at approximately $2,819,495.79. This trade represents a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lauren States sold 789 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $286.19, for a total value of $225,803.91. Following the sale, the director directly owned 11,359 shares of the company's stock, valued at $3,250,832.21. This trade represents a 6.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 4,078 shares of company stock worth $1,276,908. 5.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CLH. Oppenheimer reissued an "outperform" rating and set a $350.00 target price on shares of Clean Harbors in a research report on Thursday, July 30th. Needham & Company LLC lifted their price objective on Clean Harbors from $325.00 to $390.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Citigroup raised their price target on shares of Clean Harbors from $349.00 to $376.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Stifel Nicolaus increased their target price on shares of Clean Harbors from $337.00 to $364.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Wells Fargo & Company raised their price target on Clean Harbors from $313.00 to $349.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $354.57.

About Clean Harbors

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.

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