8,940 Shares in Clean Harbors, Inc. $CLH Purchased by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has acquired a new position in Clean Harbors, Inc., purchasing 8,940 shares valued at approximately $1.76 million.
• Several other hedge funds have also increased their stakes in Clean Harbors, leading to institutional investors holding 90.43% of the company’s stock.
• Clean Harbors reported earnings of $2.36 per share for the last quarter, slightly exceeding expectations, while its revenue fell by 0.2% compared to the previous year.

Jacobs Levy Equity Management Inc. bought a new stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,940 shares of the business services provider's stock, valued at approximately $1,762,000.

Other institutional investors have also modified their holdings of the company. Hopwood Financial Services Inc. acquired a new position in shares of Clean Harbors in the first quarter valued at approximately $30,000. Banque Cantonale Vaudoise acquired a new position in Clean Harbors during the first quarter worth $48,000. Quarry LP acquired a new position in Clean Harbors during the first quarter worth $48,000. Blue Trust Inc. grew its holdings 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 acquiring an additional 56 shares during the period. Finally, Horizon Investments LLC grew its holdings in Clean Harbors by 42.0% during the first quarter. Horizon Investments LLC now owns 284 shares of the business services provider's stock worth $56,000 after acquiring an additional 84 shares during the period. Institutional investors and hedge funds own 90.43% of the company's stock.

Clean Harbors Price Performance

Clean Harbors stock traded down $2.52 during trading hours on Friday, hitting $235.98. The stock had a trading volume of 242,715 shares, compared to its average volume of 298,746. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.45 and a quick ratio of 2.07. The stock has a market capitalization of $12.66 billion, a price-to-earnings ratio of 33.14 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. The stock's fifty day moving average is $237.82 and its two-hundred day moving average is $222.13.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its 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. Clean Harbors had a return on equity of 14.82% and a net margin of 6.48%.The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the company earned $2.46 earnings per share. Clean Harbors's revenue was down .2% compared to the same quarter last year. As a group, analysts predict that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Clean Harbors

In other news, Director Andrea Robertson sold 836 shares of the company's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $233.64, for a total value of $195,323.04. Following the sale, the director directly owned 9,888 shares in the company, valued at $2,310,232.32. This represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Louis Battles acquired 2,000 shares of Clean Harbors stock in a transaction dated Friday, August 1st. The stock was bought at an average price of $233.50 per share, for a total transaction of $467,000.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. 5.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Oppenheimer upped their price objective on Clean Harbors from $254.00 to $256.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. BMO Capital Markets set a $268.00 price objective on Clean Harbors and gave the stock an "outperform" rating in a report on Thursday, July 31st. UBS Group upped their target price on Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Raymond James Financial upped their target price on Clean Harbors from $278.00 to $280.00 and gave the company 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. Based on data from MarketBeat, Clean Harbors presently has an average rating of "Moderate Buy" and a consensus 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.