Clean Harbors, Inc. $CLH Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its holdings in Clean Harbors, Inc. by 46.7% in Q1, resulting in ownership of 4,274 shares valued at $842,000.
• Institutional investors account for 90.43% of the company’s stock, with various firms increasing their stakes during the same period.
• Clean Harbors reported an earnings per share (EPS) of $2.36, exceeding estimates, but experienced a 0.2% decline in revenue year-over-year.

HighTower Advisors LLC trimmed its position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 46.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,274 shares of the business services provider's stock after selling 3,739 shares during the quarter. HighTower Advisors LLC's holdings in Clean Harbors were worth $842,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Select Equity Group L.P. increased its holdings in shares of Clean Harbors by 4.8% during 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 purchasing an additional 80,436 shares in the last quarter. Janus Henderson Group PLC increased 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 worth $371,002,000 after acquiring an additional 13,167 shares in the last quarter. Zurich Insurance Group Ltd FI increased 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 worth $119,882,000 after acquiring an additional 92,785 shares in the last quarter. Northern Trust Corp increased its holdings in Clean Harbors by 28.1% in the 4th quarter. Northern Trust Corp now owns 498,217 shares of the business services provider's stock worth $114,660,000 after acquiring an additional 109,209 shares in the last quarter. Finally, Impax Asset Management Group plc increased its holdings in Clean Harbors by 11.1% in the 1st quarter. Impax Asset Management Group plc now owns 483,253 shares of the business services provider's stock worth $94,002,000 after acquiring an additional 48,447 shares in the last quarter. 90.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Michael Louis Battles purchased 2,000 shares of the stock in a transaction dated Friday, August 1st. The shares were purchased at an average price of $233.50 per share, with a total value of $467,000.00. Following the transaction, the chief executive officer owned 82,911 shares in the company, valued at $19,359,718.50. The trade was a 2.47% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian P. Weber sold 3,035 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $227.17, for a total transaction of $689,460.95. Following the transaction, the executive vice president directly owned 54,548 shares in the company, valued at approximately $12,391,669.16. The trade was a 5.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,840 shares of company stock worth $2,903,497. Insiders own 5.60% of the company's stock.

Clean Harbors Price Performance

Shares of Clean Harbors stock traded down $1.44 during trading hours on Tuesday, reaching $240.77. 187,869 shares of the company's stock were exchanged, compared to its average volume of 313,431. The business has a fifty day moving average of $236.68 and a two-hundred day moving average of $221.08. The company has a quick ratio of 2.07, a current ratio of 2.45 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $12.91 billion, a P/E ratio of 33.82 and a beta of 1.22. Clean Harbors, Inc. has a 1 year low of $178.29 and a 1 year high of $267.11.

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 for the quarter, beating the consensus estimate of $2.33 by $0.03. The firm had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.59 billion. Clean Harbors had a net margin of 6.48% and a return on equity of 14.82%. The company's revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.46 EPS. As a group, research analysts predict that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group boosted their price target on shares of Clean Harbors from $220.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. BMO Capital Markets set a $268.00 price target on shares of Clean Harbors and gave the stock an "outperform" rating in a report on Thursday, July 31st. Oppenheimer boosted their price target on shares of Clean Harbors from $254.00 to $256.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Raymond James Financial boosted their price target on shares of Clean Harbors from $278.00 to $280.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Clean Harbors 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.