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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda purchased a new position in Clean Harbors in the fourth quarter valued at about $32,000. Carolinas Wealth Consulting LLC grew its stake in Clean Harbors by 2,800.0% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 261 shares of the business services provider's stock valued at $60,000 after purchasing an additional 252 shares during the last quarter. Blue Trust Inc. grew its stake in Clean Harbors by 25.8% in the first quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock valued at $54,000 after purchasing an additional 56 shares during the last quarter. UMB Bank n.a. grew its stake in Clean Harbors by 24.6% in the first quarter. UMB Bank n.a. now owns 349 shares of the business services provider's stock valued at $69,000 after purchasing an additional 69 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its stake in Clean Harbors by 401.4% in the first quarter. Golden State Wealth Management LLC now owns 351 shares of the business services provider's stock valued at $69,000 after purchasing an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 90.43% of the company's stock.

Clean Harbors Stock Performance

NYSE:CLH traded down $1.66 during trading hours on Friday, reaching $234.15. The company had a trading volume of 503,299 shares, compared to its average volume of 379,799. Clean Harbors, Inc. has a 1-year low of $178.29 and a 1-year high of $267.11. The firm has a market cap of $12.56 billion, a PE ratio of 32.89 and a beta of 1.18. The business's 50 day moving average price is $229.36 and its 200-day moving average price is $220.23. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.45 and a quick ratio of 1.98.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.33 by $0.03. Clean Harbors had a return on equity of 14.82% and a net margin of 6.48%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the company posted $2.46 earnings per share. Clean Harbors's revenue for the quarter was down .2% on a year-over-year basis. Research analysts forecast that Clean Harbors, Inc. will post 7.89 EPS for the current year.

Wall Street Analysts Forecast Growth

CLH has been the topic of several analyst reports. Needham & Company LLC cut their target price on Clean Harbors from $268.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen raised Clean Harbors from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Robert W. Baird raised their price target on Clean Harbors from $250.00 to $255.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Truist Financial lowered their price target on Clean Harbors from $270.00 to $250.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Oppenheimer raised their price target on Clean Harbors from $254.00 to $256.00 and gave the stock an "outperform" rating in a report on Thursday. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Clean Harbors presently has a consensus rating of "Moderate Buy" and an average target price of $263.40.

Insider Buying and Selling

In other news, Director Alison A. Quirk sold 893 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $223.69, for a total transaction of $199,755.17. Following the transaction, the director owned 2,978 shares in the company, valued at $666,148.82. This trade represents a 23.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric W. Gerstenberg sold 8,076 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $225.23, for a total value of $1,818,957.48. Following the transaction, the chief executive officer owned 51,619 shares in the company, valued at $11,626,147.37. This trade represents a 13.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,112 shares of company stock valued at $3,416,406 in the last three months. 5.60% of the stock is currently owned by company insiders.

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.