Argent Capital Management LLC Makes New $2.86 Million Investment in Clean Harbors, Inc. $CLH

Key Points

• Argent Capital Management initiated a $2.86 million position in Clean Harbors by purchasing 9,228 shares during the third quarter. Institutional investors collectively own 90.43% of the company.
• Analysts maintain a favorable outlook, with Clean Harbors receiving a consensus “Moderate Buy” rating and an average price target of $354.57.
• Clean Harbors shares rose 2.5% to $326.46, while the company exceeded quarterly earnings and revenue expectations; however, its CEO and a director recently sold shares.

Argent Capital Management LLC purchased a new stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 9,228 shares of the business services provider's stock, valued at approximately $2,863,000.

Several other hedge funds also recently added to or reduced their stakes in CLH. Versant Capital Management Inc grew its stake in shares of Clean Harbors by 3.0% in the third quarter. Versant Capital Management Inc now owns 2,624 shares of the business services provider's stock valued at $814,000 after buying an additional 77 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Clean Harbors by 24.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 988 shares of the business services provider's stock worth $295,000 after acquiring an additional 197 shares in the last quarter. WINTON GROUP Ltd acquired a new position in Clean Harbors during the 2nd quarter worth approximately $2,617,000. Engineers Gate Manager LP boosted its holdings in Clean Harbors by 495.3% in the 2nd quarter. Engineers Gate Manager LP now owns 35,732 shares of the business services provider's stock worth $10,675,000 after acquiring an additional 29,730 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its holdings in Clean Harbors by 20.8% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 2,911 shares of the business services provider's stock worth $870,000 after acquiring an additional 502 shares during the period. 90.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. William Blair assumed coverage on shares of Clean Harbors in a research report on Thursday, September 10th. They set an "outperform" rating on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and set a $375.00 price target on shares of Clean Harbors in a report on Thursday, July 30th. Wells Fargo & Company boosted their price objective on shares of Clean Harbors from $313.00 to $349.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Needham & Company LLC upped their price objective on shares of Clean Harbors from $325.00 to $390.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, Stifel Nicolaus raised their target price on Clean Harbors from $337.00 to $364.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Clean Harbors currently has a consensus rating of "Moderate Buy" and an average target price of $354.57.

Clean Harbors Stock Up 2.5%

Shares of CLH stock traded up $7.95 during mid-day trading on Monday, reaching $326.46. 91,683 shares of the company were exchanged, compared to its average volume of 490,968. 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 business's 50 day simple moving average is $315.25 and its 200 day simple moving average is $302.16. The company has a market capitalization of $17.23 billion, a P/E ratio of 39.58, a P/E/G ratio of 2.04 and a beta of 0.87. Clean Harbors, Inc. has a fifty-two week low of $201.34 and a fifty-two week high of $335.94.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.41. The firm had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.64 billion. Clean Harbors had a net margin of 7.03% and a return on equity of 15.65%. The firm's quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.36 earnings per share. Research analysts predict that Clean Harbors, Inc. will post 9.78 earnings per share for the current year.

Insider Activity

In other Clean Harbors news, CEO Eric W. Gerstenberg sold 2,500 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $321.34, for a total transaction of $803,350.00. Following the transaction, the chief executive officer owned 56,793 shares of the company's stock, valued at $18,249,862.62. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrea Robertson sold 789 shares of Clean Harbors stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $314.01, for a total value of $247,753.89. Following the completion of the transaction, the director owned 8,979 shares of the company's stock, valued at approximately $2,819,495.79. The trade was a 8.08% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 5.00% of the company's stock.

About Clean Harbors

Clean Harbors, Inc provides environmental, industrial, and waste management services to commercial, industrial, government, and other customers. The company manages hazardous and non-hazardous waste through collection, transportation, treatment, recycling, and disposal services. It also provides emergency response services for chemical spills, environmental incidents, and other hazardous-material events.

Clean Harbors offers industrial maintenance and specialty services, including industrial cleaning, facility maintenance, chemical cleaning, waste handling, and turnaround support for refineries, manufacturing facilities, utilities, and other industrial operations.

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