Headlands Technologies LLC Purchases New Holdings in Clean Harbors, Inc. (NYSE:CLH)

Key Points

• Headlands Technologies LLC has invested $1.05 million in Clean Harbors, Inc. by acquiring 5,350 shares in the first quarter, while multiple other institutional investors have also significantly increased their holdings.
• Recently, several analysts have set new price targets for Clean Harbors, with BMO Capital Markets setting the highest target at $268.00, indicating a positive outlook for the stock.
• The company's last quarterly earnings report showed earnings per share of $2.36, beating estimates slightly but with a decline in revenue compared to the previous year.

Headlands Technologies LLC purchased a new stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,350 shares of the business services provider's stock, valued at approximately $1,054,000.

A number of other large investors have also bought and sold shares of the business. Select Equity Group L.P. increased its holdings 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 worth $403,085,000 after purchasing an additional 80,436 shares in the last quarter. Janus Henderson Group PLC raised its position 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 buying an additional 13,167 shares during the last quarter. Dimensional Fund Advisors LP grew its stake 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 purchasing an additional 15,888 shares during the period. Zurich Insurance Group Ltd FI grew its stake 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 purchasing an additional 92,785 shares during the period. Finally, Northern Trust Corp boosted its position in Clean Harbors by 28.1% during the fourth quarter. Northern Trust Corp now owns 498,217 shares of the business services provider's stock worth $114,660,000 after purchasing an additional 109,209 shares during the period. 90.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Clean Harbors

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 purchased 2,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $233.50 per share, with a total value of $467,000.00. Following the completion of the purchase, the chief executive officer directly owned 82,911 shares of the company's stock, valued at approximately $19,359,718.50. This represents a 2.47% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 15,948 shares of company stock valued at $3,611,729. 5.60% of the stock is currently owned by insiders.

Clean Harbors Stock Performance

Shares of NYSE CLH traded down $4.71 during trading hours on Friday, reaching $237.39. The stock had a trading volume of 427,995 shares, compared to its average volume of 424,471. The firm has a market cap of $12.73 billion, a price-to-earnings ratio of 33.34 and a beta of 1.18. 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, Inc. has a fifty-two week low of $178.29 and a fifty-two week high of $267.11. The firm has a 50-day moving average of $230.66 and a 200-day moving average of $220.03.

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 (EPS) for the quarter, topping 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 business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the business posted $2.46 EPS. The company's revenue for the quarter was down .2% on a year-over-year basis. Equities research analysts predict that Clean Harbors, Inc. will post 7.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CLH shares. UBS Group lifted their price target on Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Robert W. Baird boosted their target price on Clean Harbors from $250.00 to $255.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Truist Financial reduced their price target on Clean Harbors from $270.00 to $250.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen raised Clean Harbors from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Finally, Needham & Company LLC reduced their price objective on Clean Harbors from $268.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Clean Harbors currently has a consensus rating of "Moderate Buy" and an average price target of $263.40.

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.