FORA Capital LLC Buys Shares of 3,167 Clean Harbors, Inc. $CLH

Key Points

• FORA Capital LLC has acquired a new stake in Clean Harbors, Inc. (NYSE: CLH), purchasing 3,167 shares valued at approximately $624,000 during the first quarter.
• Institutional investors now own 90.43% of Clean Harbors' stock, with major stakes raised by firms like Wellington Management Group and LBP AM SA.
• Clean Harbors reported quarterly earnings per share of $2.36, beating estimates, but its revenue was down 0.2% year-over-year, totaling $1.55 billion.

FORA Capital LLC bought a new position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,167 shares of the business services provider's stock, valued at approximately $624,000.

A number of other hedge funds have also modified their holdings of CLH. Kapitalo Investimentos Ltda purchased a new position in Clean Harbors during the 4th quarter worth $32,000. Hopwood Financial Services Inc. acquired a new position in shares of Clean Harbors in the first quarter valued at approximately $30,000. Banque Cantonale Vaudoise acquired a new stake in shares of Clean Harbors during the first quarter worth $48,000. Carolinas Wealth Consulting LLC raised its position in Clean Harbors by 2,800.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 261 shares of the business services provider's stock worth $60,000 after buying an additional 252 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Clean Harbors by 25.8% during the first quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock worth $54,000 after acquiring an additional 56 shares during the period. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Clean Harbors Stock Down 0.6%

Shares of NYSE:CLH opened at $240.77 on Wednesday. Clean Harbors, Inc. has a 12-month low of $178.29 and a 12-month high of $267.11. The stock's 50-day moving average price is $236.68 and its two-hundred day moving average price is $221.08. The firm has a market cap of $12.91 billion, a price-to-earnings ratio of 33.82 and a beta of 1.22. The company has a current ratio of 2.45, a quick ratio of 2.07 and a debt-to-equity ratio of 1.02.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its earnings results on Wednesday, July 30th. The business services provider reported $2.36 earnings per share for the quarter, beating analysts' consensus estimates of $2.33 by $0.03. The firm had revenue of $1.55 billion for 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 firm's revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.46 earnings per share. On average, research analysts forecast that Clean Harbors, Inc. will post 7.89 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CLH. BMO Capital Markets set a $268.00 price objective on shares of Clean Harbors and gave the company an "outperform" rating in a research report on Thursday, July 31st. UBS Group increased their target price on Clean Harbors from $220.00 to $240.00 and gave the stock a "neutral" rating in a research note 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 note on Thursday, July 31st. Finally, Raymond James Financial upped their price objective on Clean Harbors from $278.00 to $280.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $263.40.

Insider Buying and Selling

In other news, CEO Eric W. Gerstenberg sold 8,076 shares of Clean Harbors stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $225.23, for a total transaction of $1,818,957.48. Following the sale, the chief executive officer directly owned 51,619 shares of the company's stock, valued at approximately $11,626,147.37. The trade was a 13.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Louis Battles acquired 2,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were bought at an average cost of $233.50 per share, with a total value of $467,000.00. Following the completion of the acquisition, the chief executive officer owned 82,911 shares in the company, valued at $19,359,718.50. This represents a 2.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 12,840 shares of company stock valued at $2,903,497. 5.60% of the stock is owned by insiders.

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.