Avior Wealth Management LLC Acquires New Stake in Clean Harbors, Inc. $CLH

Key Points

• Avior Wealth Management LLC has acquired a new stake in Clean Harbors, Inc. (NYSE: CLH), purchasing 1,505 shares valued at approximately $348,000.
• Clean Harbors reported $2.36 EPS for the last quarter, slightly exceeding estimates and showing a net margin of 6.48%.
• Analysts have recently increased their price targets for Clean Harbors, with Raymond James raising their forecast to $280.00 and maintaining a "strong-buy" rating.

Avior Wealth Management LLC acquired a new stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,505 shares of the business services provider's stock, valued at approximately $348,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its position in shares of Clean Harbors by 2.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,634 shares of the business services provider's stock worth $913,000 after acquiring an additional 122 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Clean Harbors by 16.2% in the 1st quarter. Concurrent Investment Advisors LLC now owns 1,059 shares of the business services provider's stock worth $209,000 after acquiring an additional 148 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Clean Harbors by 18.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,310 shares of the business services provider's stock worth $1,638,000 after acquiring an additional 1,301 shares in the last quarter. Tribune Investment Group LP bought a new position in shares of Clean Harbors in the 1st quarter worth about $12,812,000. Finally, Ritholtz Wealth Management bought a new position in shares of Clean Harbors in the 1st quarter worth about $202,000. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Clean Harbors Price Performance

Clean Harbors stock opened at $232.18 on Wednesday. Clean Harbors, Inc. has a 52 week low of $178.29 and a 52 week high of $267.11. The company's 50 day moving average price is $238.86 and its two-hundred day moving average price is $225.15. The company has a quick ratio of 2.07, a current ratio of 2.45 and a debt-to-equity ratio of 1.02. The stock has a market cap of $12.45 billion, a P/E ratio of 32.61 and a beta of 1.22.

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

Insider Activity at Clean Harbors

In other news, Director Andrea Robertson sold 836 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $233.64, for a total transaction of $195,323.04. Following the completion of the sale, the director owned 9,888 shares in the company, valued at $2,310,232.32. This trade represents a 7.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Louis Battles purchased 2,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were bought at an average price of $233.50 per share, with a total value of $467,000.00. Following the purchase, the chief executive officer owned 82,911 shares in the company, valued at $19,359,718.50. The trade was a 2.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Raymond James Financial lifted their price objective on Clean Harbors from $278.00 to $280.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 31st. BMO Capital Markets set a $268.00 price objective on Clean Harbors and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Oppenheimer raised their target price on 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 raised their target price on Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Finally, Barclays started coverage on Clean Harbors in a research note on Friday, September 19th. They issued an "equal weight" rating and a $253.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $262.45.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.