Clean Harbors, Inc. $CLH Shares Purchased by Needham Investment Management LLC

Key Points

• Needham Investment Management increased its Clean Harbors stake by 9.3% in the fourth quarter, holding 68,856 shares worth about $16.1 million. Institutional ownership of the company remains high at 90.43%.
• Clean Harbors reported better-than-expected quarterly earnings of $1.19 per share, topping estimates by $0.04, while revenue came in at $1.46 billion versus $1.47 billion expected. Revenue rose 1.9% year over year.
• Analysts remain broadly constructive on the stock, with an average “Moderate Buy” rating and a consensus price target of $323.23. Several firms recently raised their targets, though some insider selling was also reported.

Needham Investment Management LLC boosted its stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 9.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 68,856 shares of the business services provider's stock after purchasing an additional 5,875 shares during the period. Needham Investment Management LLC owned about 0.13% of Clean Harbors worth $16,145,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CLH. Elyxium Wealth LLC acquired a new stake in Clean Harbors in the 4th quarter valued at approximately $26,000. Quattro Advisors LLC acquired a new stake in Clean Harbors in the 4th quarter valued at approximately $26,000. Parkside Financial Bank & Trust increased its holdings in Clean Harbors by 205.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 119 shares of the business services provider's stock valued at $28,000 after purchasing an additional 80 shares during the last quarter. Larson Financial Group LLC increased its holdings in Clean Harbors by 676.5% in the 4th quarter. Larson Financial Group LLC now owns 132 shares of the business services provider's stock valued at $31,000 after purchasing an additional 115 shares during the last quarter. Finally, Manchester Capital Management LLC acquired a new stake in Clean Harbors in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 90.43% of the company's stock.

Clean Harbors Stock Performance

Shares of CLH stock opened at $284.48 on Tuesday. The company has a quick ratio of 1.99, a current ratio of 2.34 and a debt-to-equity ratio of 0.99. Clean Harbors, Inc. has a 52 week low of $201.34 and a 52 week high of $316.98. The stock has a market capitalization of $15.03 billion, a PE ratio of 38.55 and a beta of 0.87. The firm has a 50 day moving average of $295.03 and a two-hundred day moving average of $274.15.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on CLH. Needham & Company LLC lifted their target price on shares of Clean Harbors from $308.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Barclays lifted their target price on shares of Clean Harbors from $280.00 to $304.00 and gave the company an "equal weight" rating in a report on Monday, May 11th. TD Cowen raised their price target on shares of Clean Harbors from $320.00 to $335.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Weiss Ratings cut shares of Clean Harbors from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, April 9th. Finally, BMO Capital Markets raised their price target on shares of Clean Harbors from $290.00 to $310.00 and gave the company an "outperform" rating in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $323.23.

Insider Buying and Selling

In related news, Director Marcy L. Reed sold 836 shares of the business's stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $287.94, for a total transaction of $240,717.84. Following the completion of the transaction, the director owned 5,081 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Also, Director Lauren States sold 789 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $286.19, for a total transaction of $225,803.91. Following the transaction, the director owned 11,359 shares of the company's stock, valued at approximately $3,250,832.21. The trade was a 6.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 2,625 shares of company stock worth $759,522. Corporate insiders own 5.00% of the company's stock.

Clean Harbors Profile

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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