Janney Montgomery Scott LLC Sells 4,690 Shares of Clean Harbors, Inc. $CLH

Key Points

• Janney Montgomery Scott LLC sold 4,690 shares of Clean Harbors, Inc., reducing its stake by 56.4%, leaving it with 3,620 shares valued at approximately $837,000.
• Institutional investors own 90.43% of Clean Harbors stock, with other notable investors significantly increasing their positions, including Wellington Management Group, which raised its stake by 30.9%.
• Clean Harbors reported earnings of $2.36 per share for the recent quarter, slightly exceeding expectations, despite a 0.2% year-over-year decline in revenue.

Janney Montgomery Scott LLC reduced its position in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 56.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,620 shares of the business services provider's stock after selling 4,690 shares during the quarter. Janney Montgomery Scott LLC's holdings in Clean Harbors were worth $837,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CLH. Wellington Management Group LLP raised its stake in Clean Harbors by 30.9% during the first quarter. Wellington Management Group LLP now owns 5,293,796 shares of the business services provider's stock worth $1,043,407,000 after acquiring an additional 1,249,704 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Clean Harbors by 127.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 899,566 shares of the business services provider's stock worth $177,304,000 after purchasing an additional 504,290 shares during the period. Millennium Management LLC increased its position in Clean Harbors by 36,389.2% in the first quarter. Millennium Management LLC now owns 362,892 shares of the business services provider's stock worth $71,526,000 after purchasing an additional 363,892 shares during the period. Strs Ohio acquired a new stake in Clean Harbors in the first quarter worth about $31,312,000. Finally, Adage Capital Partners GP L.L.C. increased its position in Clean Harbors by 134.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 227,000 shares of the business services provider's stock worth $44,742,000 after purchasing an additional 130,000 shares during the period. 90.43% of the stock is owned by institutional investors.

Clean Harbors Stock Performance

CLH opened at $236.03 on Wednesday. The firm has a market cap of $12.66 billion, a P/E ratio of 33.15 and a beta of 1.18. Clean Harbors, Inc. has a 52-week low of $178.29 and a 52-week high of $267.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.07 and a current ratio of 2.45. The business's fifty day moving average is $238.27 and its 200-day moving average is $227.53.

Clean Harbors (NYSE:CLH - Get Free Report) last released its earnings results on Wednesday, July 30th. The business services provider reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.03. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.59 billion. Clean Harbors had a return on equity of 14.82% and a net margin of 6.48%.Clean Harbors's quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.46 EPS. Sell-side analysts expect that Clean Harbors, Inc. will post 7.89 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on CLH. Barclays began coverage on Clean Harbors in a research report on Friday, September 19th. They issued an "equal weight" rating and a $253.00 price objective for the company. 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. Weiss Ratings reiterated a "buy (b-)" rating on shares of Clean Harbors in a report on Wednesday, October 8th. Raymond James Financial restated a "strong-buy" rating and issued a $280.00 target price on shares of Clean Harbors in a research note on Monday, October 6th. Finally, BMO Capital Markets set a $268.00 target price on Clean Harbors and gave the company an "outperform" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $262.45.

Insider Transactions at Clean Harbors

In other news, Director Andrea Robertson sold 836 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were 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 approximately $2,310,232.32. This trade represents a 7.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Louis Battles purchased 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 purchase, the chief executive officer owned 82,911 shares in the company, valued at $19,359,718.50. This represents a 2.47% increase in their position. The disclosure for this purchase can be found here. 5.60% of the stock is currently owned by corporate insiders.

About Clean Harbors

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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