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 trimmed its stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 6.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 0.13% of Clean Harbors worth $16,183,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Deutsche Bank AG grew its holdings in Clean Harbors by 1.0% during the fourth quarter. Deutsche Bank AG now owns 5,793 shares of the business services provider's stock worth $1,333,000 after acquiring an additional 56 shares during the period. ProShare Advisors LLC increased its position in Clean Harbors by 7.2% during the 4th quarter. ProShare Advisors LLC now owns 2,371 shares of the business services provider's stock worth $546,000 after purchasing an additional 160 shares during the period. Two Sigma Advisers LP raised its stake in Clean Harbors by 51.4% in the 4th quarter. Two Sigma Advisers LP now owns 39,200 shares of the business services provider's stock valued at $9,021,000 after purchasing an additional 13,307 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Clean Harbors in the 4th quarter worth $543,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Clean Harbors by 0.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 395,276 shares of the business services provider's stock worth $90,969,000 after purchasing an additional 3,284 shares in the last quarter. 90.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays assumed coverage on shares of Clean Harbors in a research note on Friday. They issued an "equal weight" rating and a $253.00 price objective for the company. BMO Capital Markets set a $268.00 price target on shares of Clean Harbors and gave the company an "outperform" rating in a report on Thursday, July 31st. UBS Group boosted their price objective on shares of Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Oppenheimer increased their price objective on shares of Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Raymond James Financial raised 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $262.45.

Clean Harbors Price Performance

Shares of NYSE CLH traded down $2.94 during trading hours on Friday, hitting $234.20. 831,545 shares of the stock were exchanged, compared to its average volume of 350,625. Clean Harbors, Inc. has a 1-year low of $178.29 and a 1-year high of $267.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.07 and a current ratio of 2.45. The company has a market cap of $12.56 billion, a PE ratio of 32.89 and a beta of 1.22. The company's fifty day simple moving average is $238.15 and its two-hundred day simple moving average is $223.37.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its earnings results on Wednesday, July 30th. The business services provider reported $2.36 earnings per share (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 business had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.59 billion. During the same period in the prior year, the company posted $2.46 EPS. The business's revenue for the quarter was down .2% compared to the same quarter last year. On average, sell-side analysts predict that Clean Harbors, Inc. will post 7.89 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Michael Louis Battles acquired 2,000 shares of Clean Harbors stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average cost of $233.50 per share, for a total transaction of $467,000.00. Following the acquisition, the chief executive officer owned 82,911 shares in the company, valued at approximately $19,359,718.50. This represents a 2.47% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Andrea Robertson sold 836 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $233.64, for a total value of $195,323.04. Following the sale, the director directly owned 9,888 shares in the company, 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 company insiders.

Clean Harbors 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.