Cubist Systematic Strategies LLC Takes $11.22 Million Position in Clean Harbors, Inc. $CLH

Key Points

• Cubist Systematic Strategies LLC made a significant investment in Clean Harbors, acquiring 56,942 shares valued at approximately $11.2 million, reflecting a growing interest from institutional investors in the company.
• Equities analysts have raised their target prices for Clean Harbors, with Oppenheimer increasing it to $256.00 and Raymond James setting it at $280.00, indicating a strong investor confidence in the stock's performance.
• Despite a slight decline of 0.6% in share prices, Clean Harbors reported earnings per share of $2.36 for the latest quarter, exceeding analysts' expectations.

Cubist Systematic Strategies LLC purchased a new position in Clean Harbors, Inc. (NYSE:CLH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 56,942 shares of the business services provider's stock, valued at approximately $11,223,000. Cubist Systematic Strategies LLC owned about 0.11% of Clean Harbors as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CLH. AXA S.A. increased its stake in shares of Clean Harbors by 1.0% in the fourth quarter. AXA S.A. now owns 33,776 shares of the business services provider's stock worth $7,773,000 after buying an additional 319 shares during the period. Aptus Capital Advisors LLC increased its stake in shares of Clean Harbors by 9.9% in the fourth quarter. Aptus Capital Advisors LLC now owns 2,024 shares of the business services provider's stock worth $466,000 after buying an additional 182 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Clean Harbors by 5.8% in the fourth quarter. BNP Paribas Financial Markets now owns 12,145 shares of the business services provider's stock worth $2,795,000 after buying an additional 664 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Clean Harbors by 1.2% in the fourth quarter. Benjamin Edwards Inc. now owns 5,797 shares of the business services provider's stock worth $1,334,000 after buying an additional 67 shares during the period. Finally, Captrust Financial Advisors increased its stake in shares of Clean Harbors by 104.5% in the fourth quarter. Captrust Financial Advisors now owns 10,404 shares of the business services provider's stock worth $2,394,000 after buying an additional 5,317 shares during the period. 90.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Clean Harbors

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

Clean Harbors Stock Down 3.6%

Clean Harbors stock traded down $8.82 on Friday, hitting $236.31. 869,917 shares of the stock traded hands, compared to its average volume of 307,759. The company has a current ratio of 2.45, a quick ratio of 2.07 and a debt-to-equity ratio of 1.02. The firm has a market cap of $12.67 billion, a P/E ratio of 33.19 and a beta of 1.22. The business's fifty day simple moving average is $237.31 and its 200 day simple moving average is $221.46. Clean Harbors, Inc. has a 1 year low of $178.29 and a 1 year high of $267.11.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.36 EPS for the quarter, beating the consensus estimate 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%.The company's revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the firm posted $2.46 earnings per share. As a group, sell-side analysts forecast that Clean Harbors, Inc. will post 7.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.