Legal & General Group Plc Invests $20.17 Million in Clean Harbors, Inc. $CLH

Key Points

• Legal & General Group Plc acquired 67,504 Clean Harbors shares worth approximately $20.17 million, giving it a 0.13% stake. Institutional investors collectively own 90.43% of the company.
• Clean Harbors reported strong quarterly results, with earnings of $3.22 per share versus the $2.81 consensus estimate and revenue of $1.74 billion, up 11.9% year over year.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $354.57 compared with the stock’s recent price of $310.56. Shares have recently traded down 0.4%.

Legal & General Group Plc bought a new stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 67,504 shares of the business services provider's stock, valued at approximately $20,167,000. Legal & General Group Plc owned 0.13% of Clean Harbors as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elyxium Wealth LLC acquired a new position in Clean Harbors during the fourth quarter worth approximately $26,000. Quattro Advisors LLC acquired a new stake in shares of Clean Harbors in the fourth quarter valued at approximately $26,000. MidFirst Bank bought a new position in shares of Clean Harbors during the 4th quarter worth approximately $28,000. Parkside Financial Bank & Trust boosted its stake in shares of Clean Harbors by 205.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 119 shares of the business services provider's stock worth $28,000 after acquiring an additional 80 shares during the period. Finally, Larson Financial Group LLC increased its holdings in shares of Clean Harbors by 676.5% during the 4th quarter. Larson Financial Group LLC now owns 132 shares of the business services provider's stock worth $31,000 after acquiring an additional 115 shares during the last quarter. Institutional investors own 90.43% of the company's stock.

Insider Buying and Selling

In other Clean Harbors news, CEO Eric W. Gerstenberg sold 2,500 shares of the firm's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $321.34, for a total transaction of $803,350.00. Following the transaction, the chief executive officer owned 56,793 shares in the company, valued at $18,249,862.62. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrea Robertson sold 789 shares of Clean Harbors stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $314.01, for a total value of $247,753.89. Following the completion of the transaction, the director directly owned 8,979 shares of the company's stock, valued at $2,819,495.79. This represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.00% of the stock is currently owned by insiders.

Clean Harbors Trading Down 0.4%

CLH stock opened at $310.56 on Friday. Clean Harbors, Inc. has a 52 week low of $201.34 and a 52 week high of $335.94. The company has a market capitalization of $16.39 billion, a PE ratio of 37.69, a price-to-earnings-growth ratio of 2.01 and a beta of 0.86. The company's 50-day simple moving average is $307.51 and its 200 day simple moving average is $296.28. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.80 and a current ratio of 2.13.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.41. Clean Harbors had a net margin of 7.03% and a return on equity of 15.65%. The business had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter in the previous year, the company earned $2.36 EPS. The business's revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Clean Harbors, Inc. will post 9.72 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on CLH shares. Wells Fargo & Company raised their target price on shares of Clean Harbors from $313.00 to $349.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. Citigroup increased their price target on shares of Clean Harbors from $349.00 to $376.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Oppenheimer restated an "outperform" rating and set a $350.00 price objective on shares of Clean Harbors in a research report on Thursday, July 30th. TD Cowen boosted their price objective on Clean Harbors from $335.00 to $380.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, BMO Capital Markets upped their target price on Clean Harbors from $340.00 to $342.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $354.57.

About Clean Harbors

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.

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