Jackson Square Partners LLC Sells 26,579 Shares of 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 lessened its holdings in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 16.9% during the first quarter, according to its most recent 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 approximately 3.5% of Jackson Square Partners LLC's portfolio, making the stock its 4th biggest holding. Jackson Square Partners LLC owned 0.24% of Clean Harbors worth $25,841,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CLH. Hopwood Financial Services Inc. bought a new stake in shares of Clean Harbors in the 1st quarter worth about $30,000. Kapitalo Investimentos Ltda purchased a new position in Clean Harbors in the fourth quarter valued at $32,000. Banque Cantonale Vaudoise acquired a new position in Clean Harbors during the first quarter worth about $48,000. Blue Trust Inc. boosted its holdings in Clean Harbors by 25.8% in 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 raised its stake in shares of 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 valued at $60,000 after acquiring an additional 252 shares during the period. Institutional investors own 90.43% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CLH. Wall Street Zen upgraded shares of Clean Harbors from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Robert W. Baird increased their price objective on Clean Harbors from $250.00 to $255.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Oppenheimer lifted their price objective on Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Needham & Company LLC cut their target price on Clean Harbors from $268.00 to $255.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Raymond James Financial raised their target price on Clean Harbors from $278.00 to $280.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 31st. Two investment 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 MarketBeat.com, Clean Harbors currently has a consensus rating of "Moderate Buy" and a consensus target price of $263.40.

Clean Harbors Trading Up 0.0%

CLH traded up $0.10 during trading on Monday, hitting $237.35. 67,059 shares of the company's stock were exchanged, compared to its average volume of 422,974. The firm has a market cap of $12.73 billion, a P/E ratio of 33.33 and a beta of 1.18. The stock has a 50 day moving average price of $230.66 and a 200 day moving average price of $219.88. 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 1 year low of $178.29 and a 1 year high of $267.11.

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 for the quarter, beating analysts' consensus estimates of $2.33 by $0.03. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.59 billion. Clean Harbors had a return on equity of 14.82% and a net margin of 6.48%. The firm's quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 EPS. As a group, analysts expect that Clean Harbors, Inc. will post 7.89 EPS for the current fiscal year.

Insider Activity at Clean Harbors

In other Clean Harbors news, CEO Eric W. Gerstenberg sold 8,076 shares of the business's 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 sale, the chief executive officer directly owned 51,619 shares in the company, valued at $11,626,147.37. The trade was a 13.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alison A. Quirk sold 893 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $223.69, for a total value of $199,755.17. Following the completion of the transaction, the director owned 2,978 shares of the company's stock, valued at $666,148.82. The trade was a 23.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,948 shares of company stock worth $3,611,729. Insiders own 5.60% of the company's stock.

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.