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

Several other large investors have also recently bought and sold shares of CLH. Hopwood Financial Services Inc. acquired a new position in Clean Harbors during the first quarter worth approximately $30,000. Kapitalo Investimentos Ltda bought a new position in shares of Clean Harbors during the fourth quarter worth approximately $32,000. Banque Cantonale Vaudoise acquired a new stake in Clean Harbors during the first quarter worth approximately $48,000. Blue Trust Inc. grew its position in Clean Harbors by 25.8% during the first quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock worth $54,000 after buying an additional 56 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC grew its position in Clean Harbors by 2,800.0% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 261 shares of the business services provider's stock worth $60,000 after buying an additional 252 shares in the last quarter. 90.43% of the stock is owned by institutional investors and hedge funds.

Clean Harbors Stock Performance

Shares of NYSE CLH traded up $4.70 during midday trading on Tuesday, reaching $242.73. The company's stock had a trading volume of 80,612 shares, compared to its average volume of 421,859. Clean Harbors, Inc. has a 12-month low of $178.29 and a 12-month high of $267.11. The firm has a 50 day moving average price of $230.89 and a 200-day moving average price of $219.86. The stock has a market capitalization of $13.02 billion, a P/E ratio of 34.08 and a beta of 1.18. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.45 and a quick ratio of 2.07.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its earnings results on Wednesday, July 30th. The business services provider reported $2.36 earnings per share 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 firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the business earned $2.46 EPS. The company's revenue was down .2% compared to the same quarter last year. As a group, equities analysts predict that Clean Harbors, Inc. will post 7.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CLH shares. Needham & Company LLC reduced their target price on Clean Harbors from $268.00 to $255.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Raymond James Financial increased their price target on Clean Harbors from $278.00 to $280.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Wall Street Zen raised Clean Harbors from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. 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. Finally, UBS Group boosted their target price on Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $263.40.

Insider Transactions at Clean Harbors

In related news, CEO Michael Louis Battles purchased 2,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average price of $233.50 per share, with a total value of $467,000.00. Following the acquisition, the chief executive officer owned 82,911 shares of the company's stock, valued at $19,359,718.50. This trade represents a 2.47% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric W. Gerstenberg sold 8,076 shares of Clean Harbors stock in a transaction that occurred 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 sale, the chief executive officer directly 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. Over the last three months, insiders have sold 15,948 shares of company stock worth $3,611,729. 5.60% of the stock is owned by 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.