Geode Capital Management LLC Acquires 11,020 Shares of Clean Harbors, Inc. $CLH

Key Points

• Geode Capital Management increased its Clean Harbors stake by 1.2% in the fourth quarter, buying 11,020 more shares and bringing its total to 917,779 shares worth about $215.2 million.
• Insider selling picked up, with CEO Eric W. Gerstenberg and Director Marcy L. Reed both selling shares on March 18; insiders have sold 7,308 shares over the last three months.
• Analysts remain mostly constructive on the stock: Clean Harbors has a Moderate Buy consensus rating with a $323.23 target price, while the company recently beat EPS expectations in its latest quarterly results.

Geode Capital Management LLC grew its holdings in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 917,779 shares of the business services provider's stock after acquiring an additional 11,020 shares during the quarter. Geode Capital Management LLC owned 1.72% of Clean Harbors worth $215,247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of Clean Harbors by 5.4% in the fourth quarter. GAMMA Investing LLC now owns 1,034 shares of the business services provider's stock valued at $242,000 after acquiring an additional 53 shares during the period. SkyView Investment Advisors LLC boosted its position in shares of Clean Harbors by 2.3% in the second quarter. SkyView Investment Advisors LLC now owns 2,378 shares of the business services provider's stock valued at $549,000 after acquiring an additional 53 shares during the period. US Bancorp DE boosted its position in shares of Clean Harbors by 16.9% in the third quarter. US Bancorp DE now owns 374 shares of the business services provider's stock valued at $87,000 after acquiring an additional 54 shares during the period. Baird Financial Group Inc. boosted its position in shares of Clean Harbors by 1.4% in the second quarter. Baird Financial Group Inc. now owns 4,418 shares of the business services provider's stock valued at $1,021,000 after acquiring an additional 60 shares during the period. Finally, True Wealth Design LLC boosted its position in shares of Clean Harbors by 102.7% in the fourth quarter. True Wealth Design LLC now owns 152 shares of the business services provider's stock valued at $36,000 after acquiring an additional 77 shares during the period. 90.43% of the stock is owned by institutional investors.

Insider Transactions at Clean Harbors

In related news, CEO Eric W. Gerstenberg sold 1,000 shares of the company's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $293.00, for a total value of $293,000.00. Following the completion of the transaction, the chief executive officer directly owned 38,877 shares in the company, valued at approximately $11,390,961. This represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marcy L. Reed sold 836 shares of the company's stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $287.94, for a total value of $240,717.84. Following the completion of the transaction, the director owned 5,081 shares of the company's stock, valued at $1,463,023.14. The trade was a 14.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 7,308 shares of company stock valued at $2,133,467. Company insiders own 5.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CLH shares. Weiss Ratings cut Clean Harbors from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, April 9th. Barclays increased their price objective on Clean Harbors from $280.00 to $304.00 and gave the company an "equal weight" rating in a research report on Monday, May 11th. Oppenheimer increased their price objective on Clean Harbors from $310.00 to $316.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. TD Cowen increased their price objective on Clean Harbors from $320.00 to $335.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Finally, Truist Financial increased their price objective on Clean Harbors from $310.00 to $325.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, Clean Harbors currently has a consensus rating of "Moderate Buy" and a consensus target price of $323.23.

Clean Harbors Stock Performance

Shares of NYSE CLH opened at $275.62 on Wednesday. The business has a fifty day simple moving average of $295.12 and a 200 day simple moving average of $268.93. The company has a current ratio of 2.34, a quick ratio of 1.99 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $14.57 billion, a price-to-earnings ratio of 37.35 and a beta of 0.87. Clean Harbors, Inc. has a one year low of $201.34 and a one year high of $316.98.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its earnings results on Wednesday, May 6th. The business services provider reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Clean Harbors had a return on equity of 14.37% and a net margin of 6.53%.Clean Harbors's revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 earnings per share. Sell-side analysts expect that Clean Harbors, Inc. will post 8.5 EPS for the current 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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