Clean Harbors, Inc. (NYSE:CLH) is M.D. Sass LLC's 2nd Largest Position

Key Points

• M.D. Sass LLC increased its stake in Clean Harbors by 24.8%, owning 347,335 shares worth approximately $68.46 million, making it the firm's second-largest holding.
• Clean Harbors reported a quarterly EPS of $2.36, surpassing analyst expectations of $2.33, while its revenue decreased by 0.2% year-over-year.
• Predictions from analysts suggest Clean Harbors is projected to achieve an EPS of 7.89 for the current fiscal year, with an average target stock price of $263.40.

M.D. Sass LLC grew its position in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 24.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 347,335 shares of the business services provider's stock after acquiring an additional 68,977 shares during the period. Clean Harbors accounts for approximately 6.0% of M.D. Sass LLC's investment portfolio, making the stock its 2nd biggest position. M.D. Sass LLC owned 0.65% of Clean Harbors worth $68,460,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Clean Harbors by 2.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,634 shares of the business services provider's stock valued at $913,000 after purchasing an additional 122 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in Clean Harbors by 16.2% during the 1st quarter. Concurrent Investment Advisors LLC now owns 1,059 shares of the business services provider's stock worth $209,000 after buying an additional 148 shares during the period. Janney Montgomery Scott LLC grew its holdings in Clean Harbors by 18.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,310 shares of the business services provider's stock worth $1,638,000 after acquiring an additional 1,301 shares during the last quarter. Deutsche Bank AG increased its position in Clean Harbors by 1.0% in the 4th quarter. Deutsche Bank AG now owns 5,793 shares of the business services provider's stock valued at $1,333,000 after acquiring an additional 56 shares during the period. Finally, Ritholtz Wealth Management bought a new position in shares of Clean Harbors during the first quarter valued at $202,000. Institutional investors and hedge funds own 90.43% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CLH. Needham & Company LLC reduced their price objective on shares of Clean Harbors from $268.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen upgraded Clean Harbors from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. UBS Group raised their price objective on Clean Harbors from $220.00 to $240.00 and gave the stock a "neutral" rating in a research 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 research note on Thursday, July 31st. Finally, Oppenheimer increased their target price on shares of Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $263.40.

Insider Activity at Clean Harbors

In related news, insider Robert Speights sold 1,022 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $228.49, for a total transaction of $233,516.78. Following the transaction, the insider directly owned 16,310 shares of the company's stock, valued at approximately $3,726,671.90. This represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Louis Battles purchased 2,000 shares of Clean Harbors stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average cost of $233.50 per share, with a total value of $467,000.00. Following the transaction, the chief executive officer owned 82,911 shares in the company, valued at $19,359,718.50. This trade represents a 2.47% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 15,948 shares of company stock worth $3,611,729. 5.60% of the stock is currently owned by insiders.

Clean Harbors Trading Down 0.1%

CLH traded down $0.33 during trading on Wednesday, hitting $241.64. The company's stock had a trading volume of 146,425 shares, compared to its average volume of 423,816. The firm has a market capitalization of $12.96 billion, a P/E ratio of 34.03 and a beta of 1.18. Clean Harbors, Inc. has a twelve month low of $178.29 and a twelve month high of $267.11. The company has a quick ratio of 2.07, a current ratio of 2.45 and a debt-to-equity ratio of 1.02. The stock's fifty day moving average price is $229.81 and its 200-day moving average price is $220.09.

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 (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.03. Clean Harbors had a net margin of 6.48% and a return on equity of 14.82%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the firm earned $2.46 earnings per share. Clean Harbors's revenue was down .2% on a year-over-year basis. Analysts anticipate that Clean Harbors, Inc. will post 7.89 EPS for the current year.

Clean Harbors Company 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.