M.D. Sass LLC Reduces Holdings in Clean Harbors, Inc. $CLH

Key Points

• M.D. Sass LLC cut its Clean Harbors stake by 24.4% in the first quarter, selling 81,658 shares and leaving it with 252,540 shares worth about $72.4 million. Clean Harbors remains a meaningful holding for the firm, representing 5.5% of its portfolio.
• Wall Street sentiment is cautiously positive, with the stock carrying a consensus rating of “Moderate Buy” and an average price target of $327.92. Several firms recently raised targets, including Needham, Baird, and Stifel.
• Clean Harbors reported solid quarterly results, beating EPS estimates with $1.19 per share and posting 1.9% revenue growth year over year. The stock was trading near $306, close to its 52-week high of $316.98.

M.D. Sass LLC lessened its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 24.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,540 shares of the business services provider's stock after selling 81,658 shares during the period. Clean Harbors makes up about 5.5% of M.D. Sass LLC's investment portfolio, making the stock its 4th largest holding. M.D. Sass LLC owned 0.48% of Clean Harbors worth $72,411,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Elyxium Wealth LLC purchased a new stake in shares of Clean Harbors in the fourth quarter worth $26,000. Quattro Advisors LLC purchased a new position in shares of Clean Harbors in the 4th quarter worth about $26,000. MidFirst Bank bought a new position in Clean Harbors in the 4th quarter worth about $28,000. Parkside Financial Bank & Trust boosted its stake in Clean Harbors by 205.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 119 shares of the business services provider's stock worth $28,000 after purchasing an additional 80 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in Clean Harbors by 676.5% during the 4th quarter. Larson Financial Group LLC now owns 132 shares of the business services provider's stock valued at $31,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 90.43% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CLH. Barclays raised their price objective on shares of Clean Harbors from $304.00 to $305.00 and gave the company an "equal weight" rating in a research note on Thursday, July 9th. Needham & Company LLC increased their price target on shares of Clean Harbors from $308.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Robert W. Baird raised their price target on shares of Clean Harbors from $300.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, April 16th. Weiss Ratings restated a "hold (c+)" rating on shares of Clean Harbors in a report on Tuesday, July 7th. Finally, Stifel Nicolaus began coverage on Clean Harbors in a research report on Friday, May 29th. They issued a "buy" rating and a $337.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $327.92.

Insider Transactions at Clean Harbors

In other Clean Harbors news, 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 value of $225,803.91. Following the completion of the sale, the director owned 11,359 shares of the company's stock, valued at approximately $3,250,832.21. The trade was a 6.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.00% of the company's stock.

Clean Harbors Price Performance

Shares of NYSE:CLH opened at $306.18 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.99 and a current ratio of 2.34. The firm has a market cap of $16.18 billion, a price-to-earnings ratio of 41.49 and a beta of 0.86. The business has a 50-day simple moving average of $293.43 and a two-hundred day simple moving average of $286.26. Clean Harbors, Inc. has a fifty-two week low of $201.34 and a fifty-two week high of $316.98.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. Clean Harbors had a net margin of 6.53% and a return on equity of 14.37%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the firm posted $1.09 EPS. The business's quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts expect that Clean Harbors, Inc. will post 8.59 earnings per share for the current year.

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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