Cooper Investors PTY Ltd. Acquires 3,023 Shares of Clean Harbors, Inc. $CLH

Key Points

• Cooper Investors PTY Ltd. increased its stake in Clean Harbors, Inc. by 12.3% during Q2, now owning approximately 0.05% of the company, valued at $6.36 million.
• Other institutional investors also raised their holdings, with Wellington Management Group growing by 30.9% and UBS AM increasing by 127.6%, reflecting significant interest in the company.
• Clean Harbors reported $2.36 EPS for Q2, exceeding analysts' expectations, even as revenue slightly declined by 0.2% year-over-year.

Cooper Investors PTY Ltd. lifted its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 12.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,522 shares of the business services provider's stock after purchasing an additional 3,023 shares during the quarter. Cooper Investors PTY Ltd. owned about 0.05% of Clean Harbors worth $6,363,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Deutsche Bank AG increased its position in 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 during the period. Focus Partners Wealth acquired a new stake in Clean Harbors in the 4th quarter valued at approximately $234,000. ProShare Advisors LLC increased its position in Clean Harbors by 7.2% in the 4th quarter. ProShare Advisors LLC now owns 2,371 shares of the business services provider's stock valued at $546,000 after acquiring an additional 160 shares during the period. Royal Bank of Canada increased its position in Clean Harbors by 6.9% in the 4th quarter. Royal Bank of Canada now owns 179,936 shares of the business services provider's stock valued at $41,411,000 after acquiring an additional 11,567 shares during the period. Finally, Toronto Dominion Bank acquired a new stake in Clean Harbors in the 4th quarter valued at approximately $3,295,000. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Clean Harbors Stock Down 0.8%

CLH traded down $1.91 during trading on Tuesday, reaching $235.09. 43,810 shares of the stock traded hands, compared to its average volume of 409,884. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 33.03 and a beta of 1.22. Clean Harbors, Inc. has a fifty-two week low of $178.29 and a fifty-two week high of $267.11. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.45 and a quick ratio of 2.07. The stock's 50-day simple moving average is $238.25 and its two-hundred day simple moving average is $223.65.

Clean Harbors (NYSE:CLH - Get Free Report) last released 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. The firm had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.59 billion. Clean Harbors had a return on equity of 14.82% and a net margin of 6.48%.The business's revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 earnings per share. As a group, equities research analysts expect that Clean Harbors, Inc. will post 7.89 EPS for the current year.

Analyst Ratings Changes

CLH has been the topic of several research analyst reports. UBS Group lifted their price target on Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Raymond James Financial lifted their price target on Clean Harbors from $278.00 to $280.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 31st. Oppenheimer lifted their price target on Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Barclays started coverage on Clean Harbors in a research note on Friday. They set an "equal weight" rating and a $253.00 price objective for the company. Finally, BMO Capital Markets set a $268.00 price objective on Clean Harbors and gave the stock an "outperform" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $262.45.

Insider Activity

In related news, CEO Michael Louis Battles bought 2,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were bought 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 in the company, valued at approximately $19,359,718.50. This represents a 2.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrea Robertson sold 836 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $233.64, for a total value of $195,323.04. Following the transaction, the director owned 9,888 shares in the company, 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. 5.60% of the stock is owned by company insiders.

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.