Maridea Wealth Management LLC Takes Position in Clean Harbors, Inc. $CLH

Key Points

• Maridea Wealth Management initiated a 7,065-share position in Clean Harbors during the second quarter, valued at approximately $2.1 million. Institutional investors collectively own 90.43% of the company.
• Clean Harbors reported quarterly EPS of $3.22, beating estimates of $2.81, while revenue rose 11.9% year over year to $1.74 billion. Shares recently traded at $321.65, near their 12-month high.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $354.57; several firms recently raised targets to between $350 and $380.

Maridea Wealth Management LLC purchased a new position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,065 shares of the business services provider's stock, valued at approximately $2,111,000.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. grew its position in Clean Harbors by 8.9% in the first quarter. Assetmark Inc. now owns 430 shares of the business services provider's stock worth $123,000 after acquiring an additional 35 shares during the period. NewEdge Advisors LLC raised its position in Clean Harbors by 2.6% in the first quarter. NewEdge Advisors LLC now owns 1,995 shares of the business services provider's stock valued at $572,000 after purchasing an additional 50 shares during the period. SkyView Investment Advisors LLC raised its position in Clean Harbors by 2.3% in the second quarter. SkyView Investment Advisors LLC now owns 2,378 shares of the business services provider's stock valued at $549,000 after purchasing an additional 53 shares during the period. US Bancorp DE lifted its stake in shares of Clean Harbors by 16.9% in the 3rd quarter. US Bancorp DE now owns 374 shares of the business services provider's stock valued at $87,000 after purchasing an additional 54 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its stake in shares of Clean Harbors by 2.9% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,121 shares of the business services provider's stock valued at $608,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 90.43% of the company's stock.

Clean Harbors Trading Up 0.4%

Shares of NYSE CLH opened at $321.65 on Friday. Clean Harbors, Inc. has a twelve month low of $201.34 and a twelve month high of $335.94. The company has a current ratio of 2.13, a quick ratio of 1.80 and a debt-to-equity ratio of 0.94. The stock has a fifty day simple moving average of $301.56 and a 200-day simple moving average of $292.36. The stock has a market capitalization of $16.98 billion, a PE ratio of 39.03, a PEG ratio of 2.12 and a beta of 0.86.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.41. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%.The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the company earned $2.36 EPS. Clean Harbors's revenue was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Clean Harbors, Inc. will post 9.51 earnings per share for the current year.

Insider Transactions at Clean Harbors

In other news, Director Andrea Robertson sold 789 shares of the firm's stock in a transaction that occurred 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 owned 8,979 shares of the company's stock, valued at approximately $2,819,495.79. This trade represents a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lauren States sold 789 shares of Clean Harbors stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $286.19, for a total transaction of $225,803.91. Following the completion of the transaction, the director owned 11,359 shares of the company's stock, valued at $3,250,832.21. This trade represents a 6.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stifel Nicolaus raised their price objective on Clean Harbors from $337.00 to $364.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Bank of America set a $377.00 target price on shares of Clean Harbors and gave the company a "buy" rating in a research report on Thursday, July 30th. Oppenheimer reaffirmed an "outperform" rating and set a $350.00 target price on shares of Clean Harbors in a research note on Thursday, July 30th. TD Cowen lifted their price target on shares of Clean Harbors from $335.00 to $380.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, Weiss Ratings raised shares of Clean Harbors from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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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