Clean Harbors, Inc. $CLH Shares Bought by Covea Finance

Key Points

• Covea Finance increased its stake in Clean Harbors, Inc. by 78.4% in the second quarter, owning 0.13% of the company valued at $16.3 million.
• Analysts have set optimistic target prices for Clean Harbors, with recommendations ranging from outperform to strong buy and a consensus price target of $262.45.
• CEO Michael Louis Battles purchased 2,000 shares of the company, increasing his stake to 82,911 shares valued at over $19 million.

Covea Finance increased its stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 78.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,487 shares of the business services provider's stock after purchasing an additional 30,987 shares during the period. Covea Finance owned 0.13% of Clean Harbors worth $16,295,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund boosted its stake in Clean Harbors by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 10,372 shares of the business services provider's stock worth $2,044,000 after purchasing an additional 52 shares in the last quarter. Blue Trust Inc. lifted its stake in Clean Harbors by 25.8% during the 1st quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock valued at $54,000 after acquiring an additional 56 shares during the period. Xponance Inc. lifted its stake in Clean Harbors by 0.9% during the 1st quarter. Xponance Inc. now owns 6,703 shares of the business services provider's stock valued at $1,321,000 after acquiring an additional 61 shares during the period. Atticus Wealth Management LLC lifted its stake in Clean Harbors by 13.9% during the 2nd quarter. Atticus Wealth Management LLC now owns 532 shares of the business services provider's stock valued at $123,000 after acquiring an additional 65 shares during the period. Finally, UMB Bank n.a. lifted its stake in Clean Harbors by 24.6% during the 1st quarter. UMB Bank n.a. now owns 349 shares of the business services provider's stock valued at $69,000 after acquiring an additional 69 shares during the period. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CLH. BMO Capital Markets set a $268.00 target price on shares of Clean Harbors and gave the company an "outperform" rating in a report on Thursday, July 31st. Barclays began coverage on shares of Clean Harbors in a report on Friday. They set an "equal weight" rating and a $253.00 target price for the company. UBS Group lifted their target price on shares of Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Oppenheimer lifted their target price 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. Finally, Raymond James Financial lifted 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 analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $262.45.

Insider Transactions at Clean Harbors

In related news, CEO Michael Louis Battles bought 2,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 82,911 shares of the company's stock, valued at $19,359,718.50. This represents a 2.47% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrea Robertson sold 836 shares of the company's 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 directly owned 9,888 shares in the company, valued at $2,310,232.32. The trade was a 7.80% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company's stock.

Clean Harbors Trading Up 1.1%

Shares of CLH stock opened at $237.18 on Tuesday. The company's 50-day moving average price is $238.25 and its 200-day moving average price is $223.65. The company has a current ratio of 2.45, a quick ratio of 2.07 and a debt-to-equity ratio of 1.02. The stock has a market cap of $12.72 billion, a price-to-earnings ratio of 33.31 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.

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

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.

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