Fulcrum Asset Management LLP Sells 3,917 Shares of Clean Harbors, Inc. $CLH

Key Points

• Fulcrum Asset Management cut its stake in Clean Harbors by 79.1% in Q3, selling 3,917 shares and leaving 1,032 shares valued at about $240,000.
• Company insiders — including CFO Eric Dugas and EVP Sharon Gabriel — sold large blocks (2,788 and 3,540 shares respectively) on Feb 20, and insiders disposed of 11,761 shares worth $3,361,568 over the last quarter, reducing insider ownership to 5.60%.
• Analysts have generally grown more positive (several price-target increases), leaving a consensus rating of “Moderate Buy” with an average target of $297.64; the stock trades near $290 after a modest EPS and revenue beat.

Fulcrum Asset Management LLP decreased its position in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 79.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,032 shares of the business services provider's stock after selling 3,917 shares during the period. Fulcrum Asset Management LLP's holdings in Clean Harbors were worth $240,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Root Financial Partners LLC bought a new stake in shares of Clean Harbors in the third quarter worth $30,000. Bayforest Capital Ltd bought a new stake in Clean Harbors during the 3rd quarter worth about $44,000. First Horizon Corp acquired a new position in shares of Clean Harbors during the 3rd quarter worth about $44,000. SJS Investment Consulting Inc. grew its holdings in shares of Clean Harbors by 2,985.7% in the 3rd quarter. SJS Investment Consulting Inc. now owns 216 shares of the business services provider's stock valued at $50,000 after acquiring an additional 209 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Clean Harbors by 58.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the business services provider's stock valued at $51,000 after acquiring an additional 83 shares during the last quarter. 90.43% of the stock is owned by institutional investors.

Insider Transactions at Clean Harbors

In related news, CFO Eric J. Dugas sold 2,788 shares of the company's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $281.31, for a total value of $784,292.28. Following the transaction, the chief financial officer directly owned 15,933 shares in the company, valued at approximately $4,482,112.23. This represents a 14.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sharon M. Gabriel sold 3,540 shares of the firm's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $282.07, for a total transaction of $998,527.80. Following the transaction, the executive vice president directly owned 23,193 shares in the company, valued at approximately $6,542,049.51. This represents a 13.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,761 shares of company stock worth $3,361,568 over the last quarter. 5.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CLH has been the subject of a number of analyst reports. Needham & Company LLC raised their price target on Clean Harbors from $290.00 to $308.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. CJS Securities raised shares of Clean Harbors to a "strong-buy" rating in a research note on Thursday, December 11th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $320.00 price target on shares of Clean Harbors in a research report on Monday, February 23rd. The Goldman Sachs Group increased their price target on shares of Clean Harbors from $228.00 to $253.00 and gave the company a "neutral" rating in a research note on Tuesday, January 20th. Finally, Oppenheimer boosted their price objective on shares of Clean Harbors from $283.00 to $300.00 and gave the stock an "outperform" rating in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $297.64.

Clean Harbors Trading Up 0.3%

Shares of NYSE:CLH opened at $290.28 on Wednesday. Clean Harbors, Inc. has a 12-month low of $178.29 and a 12-month high of $298.12. The business has a 50 day moving average of $272.19 and a 200-day moving average of $245.56. The company has a quick ratio of 2.00, a current ratio of 2.33 and a debt-to-equity ratio of 1.01. The stock has a market cap of $15.36 billion, a PE ratio of 39.87 and a beta of 0.92.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its earnings results on Wednesday, February 18th. The business services provider reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.59 by $0.03. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. Clean Harbors had a return on equity of 14.47% and a net margin of 6.48%.The firm's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 earnings per share. As a group, equities research analysts forecast that Clean Harbors, Inc. will post 7.89 earnings per share for the current year.

Clean Harbors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.