Assenagon Asset Management S.A. Purchases 23,576 Shares of Clean Harbors, Inc. $CLH

Key Points

• Assenagon Asset Management increased its Clean Harbors stake by 48.2% in the second quarter, purchasing 23,576 shares and bringing its holdings to 72,519 shares worth approximately $21.7 million. Institutional investors collectively own 90.43% of the company.
• Clean Harbors reported a strong quarter, with earnings per share of $3.22 beating estimates by $0.41 and revenue rising 11.9% year over year to $1.74 billion.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $354.57, above its reported opening price of $308.17.

Assenagon Asset Management S.A. boosted its position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 48.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,519 shares of the business services provider's stock after purchasing an additional 23,576 shares during the quarter. Assenagon Asset Management S.A. owned about 0.14% of Clean Harbors worth $21,665,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Clean Harbors by 8.4% during the second quarter. GAMMA Investing LLC now owns 1,341 shares of the business services provider's stock valued at $401,000 after buying an additional 104 shares during the period. Central Pacific Bank Trust Division lifted its stake in Clean Harbors by 23.1% in the second quarter. Central Pacific Bank Trust Division now owns 640 shares of the business services provider's stock worth $191,000 after acquiring an additional 120 shares during the period. NewEdge Advisors LLC grew its holdings in Clean Harbors by 2.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,995 shares of the business services provider's stock worth $572,000 after acquiring an additional 50 shares in the last quarter. Verus Capital Partners LLC bought a new position in Clean Harbors during the 1st quarter worth about $254,000. Finally, Edgestream Partners L.P. purchased a new position in Clean Harbors during the 1st quarter valued at about $249,000. 90.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Andrea Robertson sold 789 shares of the business's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $314.01, for a total transaction of $247,753.89. Following the transaction, the director directly owned 8,979 shares in the company, valued at $2,819,495.79. The trade was a 8.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren States sold 789 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $286.19, for a total value of $225,803.91. Following the completion of the sale, the director owned 11,359 shares of the company's stock, valued at approximately $3,250,832.21. This trade represents a 6.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 5.00% of the company's stock.

Clean Harbors Stock Up 0.0%

Shares of Clean Harbors stock opened at $308.17 on Monday. The firm's 50 day moving average price is $298.21 and its 200-day moving average price is $290.61. The company has a quick ratio of 1.80, a current ratio of 2.13 and a debt-to-equity ratio of 0.94. Clean Harbors, Inc. has a 52-week low of $201.34 and a 52-week high of $335.94. The company has a market cap of $16.27 billion, a P/E ratio of 37.40, a PEG ratio of 2.03 and a beta of 0.86.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its earnings results on Wednesday, July 29th. The business services provider reported $3.22 EPS for the quarter, beating analysts' consensus estimates of $2.81 by $0.41. The company had revenue of $1.74 billion during 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%. Clean Harbors's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.36 earnings per share. On average, sell-side analysts predict that Clean Harbors, Inc. will post 9.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CLH. Raymond James Financial restated a "strong-buy" rating and issued a $375.00 price target on shares of Clean Harbors in a report on Thursday, July 30th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Clean Harbors in a research note on Wednesday, July 29th. Oppenheimer reissued an "outperform" rating and issued a $350.00 price objective on shares of Clean Harbors in a research note on Thursday, July 30th. TD Cowen upped their target price on Clean Harbors from $335.00 to $380.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, UBS Group upped their target price on Clean Harbors from $300.00 to $315.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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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