Clean Harbors, Inc. $CLH Shares Acquired by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC more than doubled its Clean Harbors stake in the second quarter, increasing holdings by 114.5% to 6,134 shares valued at approximately $1.83 million. Institutional investors collectively own 90.43% of the company.
• Clean Harbors reported strong quarterly results, with EPS of $3.22 beating estimates by $0.41 and revenue of $1.74 billion exceeding expectations. Revenue rose 11.9% year over year.
• Analyst sentiment remains positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $354.57, although company insiders recently sold shares.

Headlands Technologies LLC grew its position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 114.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,134 shares of the business services provider's stock after purchasing an additional 3,274 shares during the quarter. Headlands Technologies LLC's holdings in Clean Harbors were worth $1,833,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CLH. BlackRock Inc. purchased a new position in shares of Clean Harbors in the 2nd quarter valued at about $1,516,521,000. Janus Henderson Group PLC grew its holdings in Clean Harbors by 10.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider's stock valued at $557,146,000 after purchasing an additional 215,659 shares during the period. Jupiter Topco LLC purchased a new stake in shares of Clean Harbors in the second quarter valued at approximately $477,570,000. State Street Corp raised its stake in shares of Clean Harbors by 0.8% during the 3rd quarter. State Street Corp now owns 1,515,621 shares of the business services provider's stock worth $351,958,000 after buying an additional 12,452 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of Clean Harbors by 1.8% during the 1st quarter. Bessemer Group Inc. now owns 932,027 shares of the business services provider's stock worth $267,239,000 after buying an additional 16,747 shares during the period. 90.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Andrea Robertson sold 789 shares of the business's stock in a transaction that occurred 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 document filed with the SEC, which is available at this hyperlink. Also, CEO Eric W. Gerstenberg sold 2,500 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $321.34, for a total value of $803,350.00. Following the completion of the sale, the chief executive officer directly owned 56,793 shares of the company's stock, valued at approximately $18,249,862.62. This represents a 4.22% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 5.00% of the company's stock.

Clean Harbors Trading Up 1.3%

Shares of CLH opened at $314.77 on Tuesday. Clean Harbors, Inc. has a 52-week low of $201.34 and a 52-week high of $335.94. The stock has a market cap of $16.62 billion, a PE ratio of 38.20, a price-to-earnings-growth ratio of 2.01 and a beta of 0.86. The firm's fifty day moving average is $308.02 and its two-hundred day moving average is $296.81. 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 (NYSE:CLH - Get Free Report) last issued 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. Clean Harbors had a net margin of 7.03% and a return on equity of 15.65%. The business had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same period in the prior year, the business earned $2.36 earnings per share. The company's quarterly revenue was up 11.9% compared to the same quarter last year. Research analysts forecast that Clean Harbors, Inc. will post 9.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on CLH. Oppenheimer reissued an "outperform" rating and issued a $350.00 price target on shares of Clean Harbors in a research note on Thursday, July 30th. The Goldman Sachs Group restated a "neutral" rating on shares of Clean Harbors in a research report on Wednesday, July 29th. Wells Fargo & Company lifted their target price on shares of Clean Harbors from $313.00 to $349.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Needham & Company LLC boosted their target price on shares of Clean Harbors from $325.00 to $390.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Finally, TD Cowen upped their price target on shares of Clean Harbors from $335.00 to $380.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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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