Jackson Square Partners LLC Trims Holdings in Clean Harbors, Inc. (NYSE:CLH)

Key Points

• Jackson Square Partners LLC reduced its holdings in Clean Harbors, Inc. by 16.9% during the first quarter, selling over 26,000 shares, leaving it with 131,108 shares of the company.
• The company reported a quarterly EPS of $2.36, surpassing analyst estimates, but revenue fell slightly by 0.2% compared to the previous year.
• Clean Harbors has received an average rating of "Moderate Buy" from analysts, with several brokerages setting price targets around $255 to $268.

Jackson Square Partners LLC cut its holdings in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 16.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,108 shares of the business services provider's stock after selling 26,579 shares during the period. Clean Harbors makes up 3.5% of Jackson Square Partners LLC's portfolio, making the stock its 4th largest position. Jackson Square Partners LLC owned 0.24% of Clean Harbors worth $25,841,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Hopwood Financial Services Inc. purchased a new position in shares of Clean Harbors in the first quarter valued at about $30,000. Kapitalo Investimentos Ltda bought a new stake in shares of Clean Harbors in the fourth quarter worth about $32,000. Banque Cantonale Vaudoise purchased a new position in Clean Harbors during the 1st quarter valued at about $48,000. Blue Trust Inc. raised its position in Clean Harbors by 25.8% during the 1st 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. Finally, Carolinas Wealth Consulting LLC lifted its holdings in Clean Harbors by 2,800.0% in the 4th 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 during the period. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Clean Harbors Price Performance

Shares of NYSE:CLH opened at $242.33 on Thursday. The company has a market capitalization of $13.00 billion, a PE ratio of 34.03 and a beta of 1.18. The business has a fifty day moving average price of $230.12 and a 200-day moving average price of $220.25. Clean Harbors, Inc. has a 1-year low of $178.29 and a 1-year high of $267.11. 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 released its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.36 earnings per share for the quarter, beating analysts' consensus estimates of $2.33 by $0.03. Clean Harbors had a net margin of 6.48% and a return on equity of 14.82%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the business earned $2.46 EPS. Clean Harbors's revenue was down .2% compared to the same quarter last year. As a group, equities analysts expect that Clean Harbors, Inc. will post 7.89 EPS for the current fiscal year.

Insiders Place Their Bets

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 value of $1,818,957.48. Following the completion of the sale, the chief executive officer 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian P. Weber sold 3,035 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $227.17, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,948 shares of company stock worth $3,611,729 in the last three months. Corporate insiders own 5.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CLH. Oppenheimer upped their target price on Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. BMO Capital Markets set a $268.00 target price on shares of Clean Harbors and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Robert W. Baird boosted their price target on shares of Clean Harbors from $250.00 to $255.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Wall Street Zen upgraded shares of Clean Harbors from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Finally, Needham & Company LLC cut 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 analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average 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.

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