Dark Forest Capital Management LP Buys New Position in Clean Harbors, Inc. $CLH

Key Points

• Dark Forest Capital Management LP acquired 30,609 shares of Clean Harbors, Inc. valued at approximately $6,033,000, increasing its ownership to about 0.06% as of recent SEC filings.
• Several hedge funds have also invested in Clean Harbors during the first quarter, with notable stakes including Cubist Systematic Strategies LLC's new investment of $11,223,000.
• Clean Harbors reported $2.36 earnings per share in its latest quarter, exceeding analysts' expectations, but its revenue fell slightly below projections, totaling $1.55 billion.

Dark Forest Capital Management LP purchased a new position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 30,609 shares of the business services provider's stock, valued at approximately $6,033,000. Dark Forest Capital Management LP owned 0.06% of Clean Harbors at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CLH. Wellington Management Group LLP boosted its stake in Clean Harbors by 30.9% during the 1st quarter. Wellington Management Group LLP now owns 5,293,796 shares of the business services provider's stock worth $1,043,407,000 after purchasing an additional 1,249,704 shares during the period. LBP AM SA boosted its stake in Clean Harbors by 137.4% during the 1st quarter. LBP AM SA now owns 193,639 shares of the business services provider's stock worth $38,166,000 after purchasing an additional 112,073 shares during the period. Assenagon Asset Management S.A. boosted its stake in Clean Harbors by 309.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 143,977 shares of the business services provider's stock worth $28,378,000 after purchasing an additional 108,779 shares during the period. DAVENPORT & Co LLC boosted its stake in Clean Harbors by 32.0% during the 1st quarter. DAVENPORT & Co LLC now owns 448,677 shares of the business services provider's stock worth $88,446,000 after purchasing an additional 108,779 shares during the period. Finally, Nuveen LLC acquired a new position in Clean Harbors in the 1st quarter valued at $21,176,000. Institutional investors and hedge funds own 90.43% of the company's stock.

Insider Buying and Selling

In other Clean Harbors news, CEO Michael Louis Battles acquired 2,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average cost of $233.50 per share, for a total transaction 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 represents a 2.47% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Andrea Robertson sold 836 shares of the business's stock in a transaction dated 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 sale, the director owned 9,888 shares in the company, valued at $2,310,232.32. This represents a 7.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.60% of the company's stock.

Clean Harbors Price Performance

Shares of NYSE CLH traded down $8.82 during trading on Friday, hitting $236.31. 869,917 shares of the company were exchanged, compared to its average volume of 285,663. The company has a market cap of $12.67 billion, a price-to-earnings ratio of 33.19 and a beta of 1.22. Clean Harbors, Inc. has a 1 year low of $178.29 and a 1 year high of $267.11. The firm's fifty day moving average price is $237.31 and its 200 day moving average price is $221.39. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.45 and a quick ratio of 2.07.

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, topping the consensus estimate of $2.33 by $0.03. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.59 billion. Clean Harbors had a net margin of 6.48% and a return on equity of 14.82%. The business's revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 EPS. On average, sell-side analysts expect that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CLH has been the topic of several recent research reports. Oppenheimer boosted their price objective on shares of 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 shares of Clean Harbors and gave the company an "outperform" rating in a research note on Thursday, July 31st. UBS Group boosted their price objective on shares of Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Finally, Raymond James Financial boosted their price objective on shares of 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 issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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.