HB Wealth Management LLC Takes Position in Clean Harbors, Inc. (NYSE:CLH)

Key Points

• HB Wealth Management LLC has acquired a new stake in Clean Harbors, purchasing 1,679 shares valued at approximately $331,000 during the first quarter.
• Clean Harbors reported $2.36 earnings per share (EPS) for the recent quarter, slightly exceeding analysts' expectations, although revenue decreased 0.2% year-over-year.
• Wall Street analysts maintain an overall Moderate Buy consensus on Clean Harbors stock, with a target price averaging $263.40, despite some recent adjustments in price targets.

HB Wealth Management LLC purchased a new position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,679 shares of the business services provider's stock, valued at approximately $331,000.

Other institutional investors have also modified their holdings of the company. Select Equity Group L.P. grew its position in Clean Harbors by 4.8% in the 4th quarter. Select Equity Group L.P. now owns 1,751,478 shares of the business services provider's stock valued at $403,085,000 after buying an additional 80,436 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Clean Harbors by 0.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,612,082 shares of the business services provider's stock valued at $371,002,000 after acquiring an additional 13,167 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Clean Harbors by 0.9% in the 4th quarter. Bessemer Group Inc. now owns 1,095,163 shares of the business services provider's stock valued at $252,042,000 after acquiring an additional 9,595 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Clean Harbors by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 676,894 shares of the business services provider's stock valued at $155,784,000 after acquiring an additional 15,888 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI lifted its holdings in Clean Harbors by 21.7% in the 4th quarter. Zurich Insurance Group Ltd FI now owns 520,910 shares of the business services provider's stock valued at $119,882,000 after acquiring an additional 92,785 shares during the last quarter. Institutional investors own 90.43% of the company's stock.

Analyst Upgrades and Downgrades

CLH has been the subject of a number of research analyst reports. Oppenheimer upped their price target on shares of Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. UBS Group upped 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. Wall Street Zen raised shares of Clean Harbors from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Robert W. Baird upped their target price on Clean Harbors from $250.00 to $255.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, BMO Capital Markets set a $268.00 target price on Clean Harbors and gave the company an "outperform" rating in a report on Thursday, July 31st. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $263.40.

Insider Transactions at Clean Harbors

In other Clean Harbors news, CEO Eric W. Gerstenberg sold 8,076 shares of Clean Harbors stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 51,619 shares of the company's stock, valued at approximately $11,626,147.37. This trade represents 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 link. Also, insider Robert Speights sold 1,022 shares of Clean Harbors stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $228.49, for a total value of $233,516.78. Following the transaction, the insider directly owned 16,310 shares of the company's stock, valued at approximately $3,726,671.90. The trade was a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,948 shares of company stock valued at $3,611,729 over the last 90 days. Corporate insiders own 5.60% of the company's stock.

Clean Harbors Stock Performance

Shares of CLH traded up $2.20 during mid-day trading on Tuesday, hitting $238.63. The company's stock had a trading volume of 163,652 shares, compared to its average volume of 423,281. Clean Harbors, Inc. has a one year low of $178.29 and a one year high of $267.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.07 and a current ratio of 2.45. The firm has a market capitalization of $12.80 billion, a PE ratio of 33.52 and a beta of 1.18. The stock's 50-day moving average is $229.55 and its two-hundred day moving average is $219.94.

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 firm had revenue of $1.55 billion during 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%. Clean Harbors's quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the business earned $2.46 earnings per share. As a group, sell-side analysts anticipate that Clean Harbors, Inc. will post 7.89 EPS for the current year.

Clean Harbors Company 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.