Border to Coast Pensions Partnership Ltd Sells 5,000 Shares of Clean Harbors, Inc. $CLH

Key Points

• Border to Coast Pensions Partnership Ltd reduced its stock position in Clean Harbors, Inc. by 6.7%, holding 70,000 shares valued at approximately $16.18 million as of the end of the second quarter.
• Several analysts have issued new price targets for Clean Harbors, with Raymond James increasing theirs from $278 to $280 and maintaining a "strong-buy" rating.
• Clean Harbors reported an earnings per share (EPS) of $2.36 for the last quarter, slightly exceeding expectations, despite a revenue decline of 0.2% year-over-year.

Border to Coast Pensions Partnership Ltd decreased its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 6.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,000 shares of the business services provider's stock after selling 5,000 shares during the period. Border to Coast Pensions Partnership Ltd owned approximately 0.13% of Clean Harbors worth $16,183,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. bought a new stake in shares of Clean Harbors in the first quarter valued at about $30,000. Quarry LP acquired a new stake in Clean Harbors in the 1st quarter valued at approximately $48,000. Banque Cantonale Vaudoise bought a new position in shares of Clean Harbors during the 1st quarter worth approximately $48,000. Carolinas Wealth Consulting LLC grew its stake in shares of Clean Harbors by 2,800.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 261 shares of the business services provider's stock worth $60,000 after acquiring an additional 252 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Clean Harbors by 25.8% during the 1st quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock worth $54,000 after acquiring an additional 56 shares in the last quarter. 90.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research analysts recently commented on CLH shares. Raymond James Financial increased their target price on shares of Clean Harbors from $278.00 to $280.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Barclays assumed coverage on shares of Clean Harbors in a research report on Friday. They set an "equal weight" rating and a $253.00 price target on the stock. BMO Capital Markets set a $268.00 price objective on shares of Clean Harbors and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Oppenheimer lifted their price target on Clean Harbors from $254.00 to $256.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, UBS Group raised their price objective on Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $262.45.

Clean Harbors Price Performance

CLH stock traded down $0.80 during trading on Tuesday, reaching $236.19. 80,951 shares of the company were exchanged, compared to its average volume of 410,098. The company has a 50-day moving average of $238.25 and a two-hundred day moving average of $223.65. The company has a market capitalization of $12.67 billion, a price-to-earnings ratio of 33.16 and a beta of 1.22. Clean Harbors, Inc. has a twelve month low of $178.29 and a twelve month high of $267.11. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.45 and a quick ratio of 2.07.

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, beating the consensus estimate of $2.33 by $0.03. Clean Harbors had a return on equity of 14.82% and a net margin of 6.48%.The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the company earned $2.46 earnings per share. The business's quarterly revenue was down .2% on a year-over-year basis. As a group, equities analysts predict that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Clean Harbors Company Profile

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.