5,445 Shares in Clean Harbors, Inc. $CLH Purchased by AlphaQuest LLC

Key Points

• AlphaQuest LLC acquired 5,445 shares of Clean Harbors, Inc. valued at approximately $1,073,000 during the first quarter.
• Several institutional investors, including Pinebridge Investments L.P. and Adage Capital Partners, have increased their stakes in Clean Harbors, leading to 90.43% of the stock being owned by such entities.
• Insiders, including Director John R. Welch and CEO Eric W. Gerstenberg, have sold significant amounts of stock recently, with Welch selling 1,250 shares and Gerstenberg selling 8,076 shares, indicating a decrease in their ownership.

AlphaQuest LLC acquired a new position in Clean Harbors, Inc. (NYSE:CLH - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 5,445 shares of the business services provider's stock, valued at approximately $1,073,000.

Several other institutional investors and hedge funds have also made changes to their positions in CLH. Stifel Financial Corp boosted its position in shares of Clean Harbors by 0.5% in the 4th quarter. Stifel Financial Corp now owns 84,390 shares of the business services provider's stock worth $19,422,000 after buying an additional 415 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new stake in shares of Clean Harbors in the 4th quarter worth about $365,000. Pinebridge Investments L.P. boosted its position in shares of Clean Harbors by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 9,500 shares of the business services provider's stock worth $2,186,000 after buying an additional 2,844 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Clean Harbors in the 4th quarter worth about $22,324,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of Clean Harbors in the 4th quarter worth about $339,000. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Clean Harbors

In related news, Director John R. Welch sold 1,250 shares of Clean Harbors stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $228.51, for a total value of $285,637.50. Following the transaction, the director owned 11,402 shares in the company, valued at approximately $2,605,471.02. This trade represents a 9.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric W. Gerstenberg sold 8,076 shares of Clean Harbors stock in a transaction on Friday, June 6th. The shares were sold at an average price of $225.23, for a total value of $1,818,957.48. Following the completion of the transaction, the chief executive officer owned 51,619 shares in the company, valued at $11,626,147.37. The trade was a 13.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,112 shares of company stock worth $3,422,651. Corporate insiders own 5.60% of the company's stock.

Analysts Set New Price Targets

CLH has been the topic of several recent research reports. Needham & Company LLC decreased 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 report on Thursday, May 1st. BMO Capital Markets set a $268.00 target price on shares of Clean Harbors and gave the company an "outperform" rating in a report on Thursday, July 31st. Wall Street Zen upgraded shares of Clean Harbors from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Raymond James Financial upped their target price on shares of Clean Harbors from $278.00 to $280.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. Finally, Oppenheimer upped their target price on shares of Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Clean Harbors has an average rating of "Moderate Buy" and a consensus target price of $263.40.

Clean Harbors Trading Up 1.6%

NYSE CLH opened at $248.3750 on Friday. Clean Harbors, Inc. has a 12 month low of $178.29 and a 12 month high of $267.11. The company has a 50-day moving average of $234.47 and a 200-day moving average of $220.58. 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 company has a market cap of $13.32 billion, a P/E ratio of 34.88 and a beta of 1.18.

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

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.

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