Clean Harbors, Inc. $CLH Stock Position Decreased by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC decreased its position in Clean Harbors, Inc. by 39.8%, owning 6,919 shares worth $1,364,000 after selling 4,566 shares in the first quarter.
• Several other institutional investors also adjusted their stakes, with Cambridge Investment Research Advisors Inc. increasing its stake by 2.7% to 4,634 shares and Concurrent Investment Advisors LLC raising theirs by 16.2%.
• CEO Michael Louis Battles purchased 2,000 shares at $233.50 each, increasing his ownership by 2.47% to a total of 82,911 shares valued at $19.36 million.

NewEdge Advisors LLC cut its position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 39.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,919 shares of the business services provider's stock after selling 4,566 shares during the period. NewEdge Advisors LLC's holdings in Clean Harbors were worth $1,364,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of Clean Harbors by 2.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,634 shares of the business services provider's stock worth $913,000 after purchasing an additional 122 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Clean Harbors by 16.2% during the 1st quarter. Concurrent Investment Advisors LLC now owns 1,059 shares of the business services provider's stock worth $209,000 after purchasing an additional 148 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Clean Harbors by 18.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,310 shares of the business services provider's stock worth $1,638,000 after purchasing an additional 1,301 shares in the last quarter. Tribune Investment Group LP purchased a new stake in shares of Clean Harbors during the 1st quarter worth about $12,812,000. Finally, Deutsche Bank AG raised its stake in shares of Clean Harbors by 1.0% in the 4th quarter. Deutsche Bank AG now owns 5,793 shares of the business services provider's stock valued at $1,333,000 after acquiring an additional 56 shares in the last quarter. 90.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Michael Louis Battles bought 2,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average cost of $233.50 per share, for a total transaction of $467,000.00. Following the completion of the purchase, the chief executive officer owned 82,911 shares of the company's stock, valued at $19,359,718.50. This trade represents a 2.47% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrea Robertson sold 836 shares of the company's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $233.64, for a total value of $195,323.04. Following the completion of the transaction, the director owned 9,888 shares of the company's stock, valued at $2,310,232.32. The trade was a 7.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. UBS Group raised their price objective on Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Oppenheimer raised their price objective on Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. BMO Capital Markets set a $268.00 price objective on Clean Harbors and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Raymond James Financial raised their price objective on Clean Harbors from $278.00 to $280.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $263.40.

Clean Harbors Stock Performance

Shares of NYSE CLH opened at $235.98 on Friday. The company has a market cap of $12.66 billion, a P/E ratio of 33.14 and a beta of 1.22. The company has a quick ratio of 2.07, a current ratio of 2.45 and a debt-to-equity ratio of 1.02. Clean Harbors, Inc. has a 12 month low of $178.29 and a 12 month high of $267.11. The business's 50 day moving average is $237.82 and its two-hundred day moving average is $222.13.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its earnings results on Wednesday, July 30th. The business services provider reported $2.36 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.03. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.59 billion. Clean Harbors had a return on equity of 14.82% and a net margin of 6.48%.Clean Harbors's revenue was down .2% on a year-over-year basis. During the same period in the prior year, the company posted $2.46 earnings per share. On average, equities analysts expect that Clean Harbors, Inc. will post 7.89 EPS for the current 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.

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