Corient Private Wealth LP Has $6.95 Million Position in Clean Harbors, Inc. $CLH

Key Points

• Corient Private Wealth reduced its Clean Harbors position by 41.8% in the second quarter, selling 16,694 shares and retaining 23,260 shares valued at approximately $6.95 million. Institutional investors collectively own 90.43% of the company.
• Clean Harbors exceeded quarterly expectations, reporting EPS of $3.22 versus the $2.81 consensus and revenue of $1.74 billion, up 11.9% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $354.57; however, company insiders recently sold shares, including CEO Eric Gerstenberg’s $803,350 transaction.

Corient Private Wealth LP lessened its position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 41.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,260 shares of the business services provider's stock after selling 16,694 shares during the period. Corient Private Wealth LP's holdings in Clean Harbors were worth $6,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its stake in Clean Harbors by 94.4% in the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 16,997 shares of the business services provider's stock valued at $4,874,000 after purchasing an additional 8,252 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Clean Harbors during the fourth quarter worth $938,000. Swedbank AB increased its holdings in shares of Clean Harbors by 7.1% during the fourth quarter. Swedbank AB now owns 150,000 shares of the business services provider's stock worth $35,172,000 after buying an additional 10,000 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Clean Harbors by 10.0% during the fourth quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider's stock worth $557,146,000 after buying an additional 215,659 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Clean Harbors by 1.8% in the 1st quarter. Bessemer Group Inc. now owns 932,027 shares of the business services provider's stock valued at $267,239,000 after acquiring an additional 16,747 shares during the last quarter. 90.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Clean Harbors

In other news, CEO Eric Gerstenberg sold 2,500 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $321.34, for a total transaction of $803,350.00. Following the completion of the sale, the chief executive officer directly owned 56,793 shares in the company, valued at $18,249,862.62. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrea Robertson sold 789 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $314.01, for a total transaction of $247,753.89. Following the completion of the transaction, the director owned 8,979 shares in the company, valued at approximately $2,819,495.79. The trade was a 8.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.00% of the company's stock.

Clean Harbors Price Performance

Shares of CLH opened at $316.02 on Friday. The business has a 50-day moving average of $313.61 and a 200-day moving average of $300.31. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.13 and a quick ratio of 1.80. The company has a market capitalization of $16.68 billion, a price-to-earnings ratio of 38.35, a price-to-earnings-growth ratio of 2.06 and a beta of 0.85. Clean Harbors, Inc. has a 1 year low of $201.34 and a 1 year high of $335.94.

Clean Harbors (NYSE:CLH - Get Free Report) last released its earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.41. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.64 billion. Clean Harbors had a net margin of 7.03% and a return on equity of 15.65%. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.36 EPS. As a group, equities research analysts anticipate that Clean Harbors, Inc. will post 9.73 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Weiss Ratings upgraded Clean Harbors from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 30th. Needham & Company LLC increased their target price on Clean Harbors from $325.00 to $390.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Citigroup lifted their price target on Clean Harbors from $349.00 to $376.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. The Goldman Sachs Group restated a "neutral" rating on shares of Clean Harbors in a report on Wednesday, July 29th. Finally, Barclays upped their price objective on Clean Harbors from $305.00 to $325.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Clean Harbors has an average rating of "Moderate Buy" and a consensus target price of $354.57.

Clean Harbors Company Profile

Clean Harbors, Inc provides environmental, energy and industrial services throughout the United States and Canada. The company manages hazardous and non-hazardous waste through services that include collection, transportation, treatment, disposal, recycling and incineration. It also provides emergency spill response, wastewater treatment and specialized environmental remediation.

Through its industrial services operations, Clean Harbors supports refineries, chemical plants, utilities, manufacturers and other industrial customers with maintenance, cleaning, turnaround and specialty services.

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