Clean Harbors, Inc. $CLH Shares Acquired by Bridges Investment Management Inc.

Key Points

• Bridges Investment Management Inc. increased its holdings in Clean Harbors, Inc. by 15.5%, owning 9,309 shares valued at approximately $2.15 million.
• Several other hedge funds also raised their positions in Clean Harbors, with Wellington Management leading with a 30.9% increase in the first quarter.
• Clean Harbors reported $2.36 earnings per share, slightly exceeding estimates, and experienced a revenue drop of .2% compared to the same quarter last year.

Bridges Investment Management Inc. grew its holdings in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 15.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,309 shares of the business services provider's stock after buying an additional 1,252 shares during the period. Bridges Investment Management Inc.'s holdings in Clean Harbors were worth $2,152,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Wellington Management Group LLP raised its position in shares of Clean Harbors by 30.9% in the first quarter. Wellington Management Group LLP now owns 5,293,796 shares of the business services provider's stock valued at $1,043,407,000 after buying an additional 1,249,704 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Clean Harbors by 127.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 899,566 shares of the business services provider's stock valued at $177,304,000 after buying an additional 504,290 shares during the last quarter. Impax Asset Management Group plc raised its position in shares of Clean Harbors by 11.1% in the first quarter. Impax Asset Management Group plc now owns 483,253 shares of the business services provider's stock valued at $94,002,000 after buying an additional 48,447 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Clean Harbors by 2.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 456,426 shares of the business services provider's stock valued at $89,962,000 after buying an additional 11,465 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its position in shares of Clean Harbors by 32.0% in the first quarter. DAVENPORT & Co LLC now owns 448,677 shares of the business services provider's stock valued at $88,446,000 after buying an additional 108,779 shares during the last quarter. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Clean Harbors Trading Up 0.1%

Shares of CLH stock opened at $232.18 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.45 and a quick ratio of 2.07. The firm has a market cap of $12.45 billion, a PE ratio of 32.61 and a beta of 1.18. The company has a 50-day moving average of $237.86 and a two-hundred day moving average of $227.80. Clean Harbors, Inc. has a 1-year low of $178.29 and a 1-year high of $267.11.

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

Insider Activity

In other Clean Harbors news, 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 transaction of $195,323.04. Following the completion of the transaction, the director owned 9,888 shares of the company's stock, valued at $2,310,232.32. This trade represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Louis Battles acquired 2,000 shares of the stock in a transaction dated 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 purchase, the chief executive officer owned 82,911 shares of the company's stock, valued at approximately $19,359,718.50. This trade represents a 2.47% increase in their position. The disclosure for this purchase can be found here. Company insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of Clean Harbors in a report on Wednesday, October 8th. Oppenheimer upped their price objective on shares of Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. BMO Capital Markets set a $268.00 price objective on shares of Clean Harbors and gave the company an "outperform" rating in a report on Thursday, July 31st. UBS Group upped their price objective on shares of Clean Harbors from $240.00 to $245.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $280.00 price objective on shares of Clean Harbors in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $262.91.

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.