Clean Harbors, Inc. (NYSE:CLH) Stock Position Raised by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management boosted its stake in Clean Harbors, Inc. by 73.0% in Q1, now holding 74,434 shares valued at approximately $14.67 million.
• Clean Harbors' stock recently traded at $238.95, with a 12-month high of $267.11, and analysts predict an earnings per share of 7.89 for the current fiscal year.
• Insider sales at Clean Harbors included significant transactions by both the EVP and CEO, with insider ownership now at 5.60%.

Picton Mahoney Asset Management increased its position in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 73.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,434 shares of the business services provider's stock after acquiring an additional 31,418 shares during the period. Picton Mahoney Asset Management owned approximately 0.14% of Clean Harbors worth $14,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Oregon Public Employees Retirement Fund raised its stake in shares of Clean Harbors by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 10,372 shares of the business services provider's stock worth $2,044,000 after buying an additional 52 shares during the period. Deutsche Bank AG boosted its stake in shares of Clean Harbors by 1.0% in the fourth quarter. Deutsche Bank AG now owns 5,793 shares of the business services provider's stock worth $1,333,000 after acquiring an additional 56 shares during the last quarter. Blue Trust Inc. increased its position in shares of Clean Harbors by 25.8% during the first quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock worth $54,000 after purchasing an additional 56 shares in the last quarter. Scotia Capital Inc. increased its position in shares of Clean Harbors by 0.4% during the fourth quarter. Scotia Capital Inc. now owns 14,262 shares of the business services provider's stock worth $3,282,000 after purchasing an additional 59 shares in the last quarter. Finally, Xponance Inc. increased its position in shares of Clean Harbors by 0.9% during the first quarter. Xponance Inc. now owns 6,703 shares of the business services provider's stock worth $1,321,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 90.43% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group raised their price objective on shares of Clean Harbors from $220.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday. Truist Financial reduced their price objective on Clean Harbors from $270.00 to $250.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Oppenheimer increased 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. BMO Capital Markets set a $268.00 price target on Clean Harbors and gave the company an "outperform" rating in a research note on Thursday. Finally, Needham & Company LLC cut their target price on Clean Harbors from $268.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $263.40.

Insider Buying and Selling

In related news, Director Alison A. Quirk sold 893 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $223.69, for a total transaction of $199,755.17. Following the sale, the director owned 2,978 shares in the company, valued at $666,148.82. This represents a 23.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian P. Weber sold 3,035 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $227.17, for a total transaction of $689,460.95. Following the completion of the transaction, the executive vice president owned 54,548 shares of the company's stock, valued at $12,391,669.16. This trade represents a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,112 shares of company stock worth $3,416,406 over the last quarter. Company insiders own 5.60% of the company's stock.

Clean Harbors Trading Down 0.5%

CLH traded down $1.24 during trading on Friday, hitting $234.57. The company's stock had a trading volume of 242,152 shares, compared to its average volume of 423,166. The firm's 50 day moving average price is $229.21 and its 200-day moving average price is $220.23. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.45 and a quick ratio of 1.98. The stock has a market cap of $12.57 billion, a PE ratio of 32.92 and a beta of 1.16. Clean Harbors, Inc. has a twelve month low of $178.29 and a twelve month high of $267.11.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.36 earnings per share for the quarter, topping 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 firm had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same period in the prior year, the company earned $2.46 EPS. The firm's revenue was down .2% on a year-over-year basis. On average, analysts expect that Clean Harbors, Inc. will post 7.89 earnings per share for the current year.

Clean Harbors Company 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.