Clean Harbors, Inc. $CLH Shares Bought by Munro Partners

Key Points

• Munro Partners increased its stake in Clean Harbors by 11.4% in the fourth quarter, bringing its holdings to 85,759 shares worth about $20.1 million.
• Institutional ownership remains very high, with hedge funds and other institutions owning 90.43% of the stock; several large firms also recently added to their positions.
• Analysts are mostly positive on CLH after recent upgrades and higher price targets, while the company also beat quarterly EPS estimates, reporting $1.19 per share versus the expected $1.15.

Munro Partners raised its stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,759 shares of the business services provider's stock after acquiring an additional 8,755 shares during the period. Munro Partners owned 0.16% of Clean Harbors worth $20,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp boosted its stake in Clean Harbors by 0.8% in the third quarter. State Street Corp now owns 1,515,621 shares of the business services provider's stock valued at $351,958,000 after acquiring an additional 12,452 shares during the period. Snyder Capital Management L P boosted its stake in Clean Harbors by 7.9% in the third quarter. Snyder Capital Management L P now owns 1,148,504 shares of the business services provider's stock valued at $266,706,000 after acquiring an additional 83,638 shares during the period. Nordea Investment Management AB boosted its stake in Clean Harbors by 120.8% in the fourth quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider's stock valued at $246,725,000 after acquiring an additional 569,388 shares during the period. Geode Capital Management LLC boosted its stake in Clean Harbors by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 917,779 shares of the business services provider's stock valued at $215,247,000 after acquiring an additional 11,020 shares during the period. Finally, First Trust Advisors LP boosted its stake in Clean Harbors by 8.6% in the fourth quarter. First Trust Advisors LP now owns 707,994 shares of the business services provider's stock valued at $166,010,000 after acquiring an additional 56,309 shares during the period. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Marcy L. Reed sold 836 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $287.94, for a total transaction of $240,717.84. Following the sale, the director owned 5,081 shares of the company's stock, valued at $1,463,023.14. The trade was a 14.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric W. Gerstenberg sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $293.00, for a total value of $293,000.00. Following the sale, the chief executive officer directly owned 38,877 shares in the company, valued at approximately $11,390,961. The trade was a 2.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 2,625 shares of company stock valued at $759,522. Insiders own 5.00% of the company's stock.

Wall Street Analysts Forecast Growth

CLH has been the subject of a number of research reports. Citigroup upgraded Clean Harbors from a "neutral" rating to a "buy" rating and lifted their target price for the company from $302.00 to $346.00 in a research note on Wednesday, April 8th. Robert W. Baird lifted their target price on Clean Harbors from $300.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, April 16th. Truist Financial lifted their target price on Clean Harbors from $310.00 to $325.00 and gave the company a "buy" rating in a research note on Monday, April 20th. UBS Group lifted their target price on Clean Harbors from $300.00 to $315.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Finally, Wall Street Zen cut Clean Harbors from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $323.23.

Clean Harbors Stock Performance

CLH opened at $284.48 on Tuesday. The business's 50 day moving average is $295.03 and its 200-day moving average is $274.15. The stock has a market cap of $15.03 billion, a PE ratio of 38.55 and a beta of 0.87. The company has a current ratio of 2.34, a quick ratio of 1.99 and a debt-to-equity ratio of 0.99. Clean Harbors, Inc. has a twelve month low of $201.34 and a twelve month high of $316.98.

Clean Harbors (NYSE:CLH - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. The company had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.47 billion. Clean Harbors had a return on equity of 14.37% and a net margin of 6.53%.The business's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share. On average, analysts predict that Clean Harbors, Inc. will post 8.5 earnings per share for the current year.

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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