Clean Harbors, Inc. $CLH Shares Acquired by Rivermont Capital Management LP

Key Points

• Rivermont Capital Management LP increased its stake in Clean Harbors by 74.6%, owning 103,989 shares, making it the fourth largest holding in their portfolio.
• Despite a year-over-year revenue decrease of 0.2%, Clean Harbors reported earnings of $2.36 per share, exceeding expectations of $2.33.
• Institutional investors currently hold 90.43% of Clean Harbors stock, indicating strong institutional interest in the company.

Rivermont Capital Management LP boosted its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 74.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 103,989 shares of the business services provider's stock after buying an additional 44,422 shares during the period. Clean Harbors makes up approximately 8.6% of Rivermont Capital Management LP's holdings, making the stock its 4th largest holding. Rivermont Capital Management LP owned approximately 0.19% of Clean Harbors worth $20,496,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CLH. Hopwood Financial Services Inc. purchased a new position in shares of Clean Harbors during the 1st quarter worth about $30,000. Quarry LP purchased a new position in shares of Clean Harbors during the 1st quarter worth about $48,000. Banque Cantonale Vaudoise purchased a new position in shares of Clean Harbors during the 1st quarter worth about $48,000. Carolinas Wealth Consulting LLC boosted its stake in shares of Clean Harbors by 2,800.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 261 shares of the business services provider's stock worth $60,000 after purchasing an additional 252 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Clean Harbors by 25.8% during the 1st quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock worth $54,000 after purchasing an additional 56 shares during the period. Hedge funds and other institutional investors own 90.43% of the company's stock.

Insiders Place Their Bets

In related news, 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 transaction of $195,323.04. Following the sale, the director directly owned 9,888 shares of the company's stock, valued at approximately $2,310,232.32. This represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael Louis Battles purchased 2,000 shares of the 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 completion of the acquisition, 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 disclosure for this purchase can be found here. Corporate insiders own 5.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CLH. Oppenheimer lifted their price target on shares of Clean Harbors from $254.00 to $256.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Raymond James Financial lifted their price objective 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. BMO Capital Markets set a $268.00 target price on shares of Clean Harbors and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, UBS Group raised their target price on shares of Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $263.40.

Clean Harbors Stock Down 1.1%

Shares of NYSE:CLH traded down $2.52 during trading on Friday, reaching $235.98. The stock had a trading volume of 242,715 shares, compared to its average volume of 411,671. Clean Harbors, Inc. has a one year low of $178.29 and a one year high of $267.11. The company has a market capitalization of $12.66 billion, a P/E ratio of 33.14 and a beta of 1.22. 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 firm's 50-day simple moving average is $237.78 and its 200 day simple moving average is $221.98.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.36 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 during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The business's revenue for the quarter was down .2% compared to the same quarter last year. As a group, research analysts expect that Clean Harbors, Inc. will post 7.89 EPS for the current fiscal year.

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.