Cramer Rosenthal Mcglynn LLC Acquires 21,130 Shares of Clean Harbors, Inc. $CLH

Key Points

• Cramer Rosenthal Mcglynn LLC increased its stake in Clean Harbors, acquiring an additional 21,130 shares in the first quarter, bringing its total ownership to 125,394 shares, which represents about 1.8% of the firm's holdings.
• Clean Harbors reported a net margin of 6.48% and earnings per share (EPS) of $2.36 for the last quarter, exceeding analysts' expectations, though revenue declined slightly year-over-year.
• Institutional investors now own 90.43% of Clean Harbors' stock, reflecting a strong interest from hedge funds, alongside recent price target adjustments from various research firms indicating a generally positive outlook.

Cramer Rosenthal Mcglynn LLC raised its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 20.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 125,394 shares of the business services provider's stock after acquiring an additional 21,130 shares during the period. Clean Harbors makes up approximately 1.8% of Cramer Rosenthal Mcglynn LLC's holdings, making the stock its 22nd biggest position. Cramer Rosenthal Mcglynn LLC owned approximately 0.23% of Clean Harbors worth $24,715,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in Clean Harbors by 30.9% during the 1st 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 acquiring an additional 1,249,704 shares during the period. Select Equity Group L.P. lifted its stake in Clean Harbors by 4.8% during the 4th quarter. Select Equity Group L.P. now owns 1,751,478 shares of the business services provider's stock valued at $403,085,000 after acquiring an additional 80,436 shares during the period. Janus Henderson Group PLC lifted its stake in Clean Harbors by 0.8% during the 4th quarter. Janus Henderson Group PLC now owns 1,612,082 shares of the business services provider's stock valued at $371,002,000 after acquiring an additional 13,167 shares during the period. Zurich Insurance Group Ltd FI lifted its stake in Clean Harbors by 21.7% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 520,910 shares of the business services provider's stock valued at $119,882,000 after acquiring an additional 92,785 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Clean Harbors by 28.1% in the 4th quarter. Northern Trust Corp now owns 498,217 shares of the business services provider's stock worth $114,660,000 after purchasing an additional 109,209 shares during the period. Institutional investors own 90.43% of the company's stock.

Insider Buying and Selling

In other news, CEO Eric W. Gerstenberg sold 8,076 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $225.23, for a total transaction of $1,818,957.48. Following the completion of the transaction, the chief executive officer directly owned 51,619 shares in the company, valued at approximately $11,626,147.37. This represents a 13.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrea Robertson sold 836 shares of the firm's 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 completion of the transaction, the director directly owned 9,888 shares of the company's stock, valued at approximately $2,310,232.32. This trade represents a 7.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,840 shares of company stock valued at $2,903,497 in the last ninety days. Company insiders own 5.60% of the company's stock.

Clean Harbors Price Performance

CLH traded down $2.05 during trading on Thursday, reaching $243.57. 236,678 shares of the company traded hands, compared to its average volume of 358,753. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.07 and a current ratio of 2.45. Clean Harbors, Inc. has a 12-month low of $178.29 and a 12-month high of $267.11. The firm has a fifty day simple moving average of $235.95 and a 200 day simple moving average of $220.94. The company has a market cap of $13.06 billion, a P/E ratio of 34.21 and a beta of 1.18.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.59 billion. During the same period last year, the firm posted $2.46 EPS. The company's revenue was down .2% on a year-over-year basis. On average, equities analysts forecast that Clean Harbors, Inc. will post 7.89 EPS for the current year.

Wall Street Analysts Forecast Growth

CLH has been the topic of a number of research reports. Raymond James Financial raised their price objective on shares of Clean Harbors from $278.00 to $280.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Robert W. Baird boosted their price objective on shares of Clean Harbors from $250.00 to $255.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Oppenheimer upped their price objective on Clean Harbors from $254.00 to $256.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Wall Street Zen upgraded Clean Harbors from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Finally, UBS Group upped their price target on Clean Harbors from $220.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $263.40.

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.