Empowered Funds LLC Takes Position in Clean Harbors, Inc. $CLH

Key Points

• Empowered Funds LLC acquired 3,508 Clean Harbors shares worth approximately $1.05 million in the second quarter. Institutional investors collectively own 90.43% of the company.
• Clean Harbors’ CEO Eric Gerstenberg and director Andrea Robertson recently sold shares, reducing their respective holdings by 4.22% and 8.08%; insiders own 5% of the stock.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and a $354.57 price target. The company also exceeded quarterly earnings and revenue estimates, reporting $3.22 EPS and $1.74 billion in revenue, up 11.9% year over year.

Empowered Funds LLC bought a new position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,508 shares of the business services provider's stock, valued at approximately $1,048,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. United Capital Financial Advisors LLC acquired a new stake in Clean Harbors during the 2nd quarter worth approximately $390,000. Jefferies Financial Group Inc. purchased a new stake in shares of Clean Harbors during the second quarter worth approximately $1,549,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Clean Harbors in the second quarter valued at about $9,667,000. Capstone Investment Advisors LLC acquired a new position in Clean Harbors during the 2nd quarter worth approximately $265,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Clean Harbors in the 2nd quarter valued at approximately $596,000. Institutional investors and hedge funds own 90.43% of the company's stock.

Insiders Place Their Bets

In related news, Director Andrea Robertson sold 789 shares of Clean Harbors stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $314.01, for a total transaction of $247,753.89. Following the completion of the sale, the director owned 8,979 shares in the company, valued at approximately $2,819,495.79. This trade represents a 8.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric Gerstenberg sold 2,500 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer directly owned 56,793 shares of the company's stock, valued at $18,249,862.62. The trade was a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Oppenheimer reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Clean Harbors in a report on Thursday, July 30th. Stifel Nicolaus increased their price target on shares of Clean Harbors from $337.00 to $364.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Needham & Company LLC raised their price objective on shares of Clean Harbors from $325.00 to $390.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. TD Cowen boosted their price objective on shares of Clean Harbors from $335.00 to $380.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $375.00 target price on shares of Clean Harbors in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Clean Harbors presently has a consensus rating of "Moderate Buy" and a consensus price target of $354.57.

Clean Harbors Trading Down 0.6%

Shares of CLH opened at $316.67 on Friday. 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 firm has a 50 day simple moving average of $309.56 and a 200-day simple moving average of $297.88. Clean Harbors, Inc. has a 1-year low of $201.34 and a 1-year high of $335.94. The stock has a market cap of $16.72 billion, a price-to-earnings ratio of 38.43, a price-to-earnings-growth ratio of 2.06 and a beta of 0.85.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.81 by $0.41. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.64 billion. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%.Clean Harbors's revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.36 EPS. Equities analysts forecast that Clean Harbors, Inc. will post 9.72 EPS for the current fiscal year.

Clean Harbors Company Profile

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.

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