Mediolanum International Funds Ltd Acquires 7,165 Shares of Clean Harbors, Inc. (NYSE:CLH)

Key Points

• Mediolanum International Funds Ltd increased its stake in Clean Harbors, Inc. by 30.2%, now owning approximately 30,923 shares worth $6,096,000 according to their latest filing.
• Several institutional investors, including Commonwealth Equity Services LLC and JPMorgan Chase & Co., have also raised their stakes in Clean Harbors during the fourth quarter.
• Analysts have mixed views on Clean Harbors with prices targets ranging from $250.00 to $268.00, reflecting a consensus rating of "Moderate Buy" with an average price target of $259.70.

Mediolanum International Funds Ltd raised its holdings in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 30.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,923 shares of the business services provider's stock after purchasing an additional 7,165 shares during the period. Mediolanum International Funds Ltd owned 0.06% of Clean Harbors worth $6,096,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CLH. Kapitalo Investimentos Ltda bought a new position in Clean Harbors during the 4th quarter valued at approximately $32,000. Blue Trust Inc. raised its position in shares of Clean Harbors by 25.8% in the 1st quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock worth $54,000 after acquiring an additional 56 shares in the last quarter. Physician Wealth Advisors Inc. bought a new position in shares of Clean Harbors in the 4th quarter worth approximately $56,000. Carolinas Wealth Consulting LLC raised its position in shares of Clean Harbors by 2,800.0% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 261 shares of the business services provider's stock worth $60,000 after acquiring an additional 252 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Clean Harbors by 24.6% in the 1st quarter. UMB Bank n.a. now owns 349 shares of the business services provider's stock worth $69,000 after acquiring an additional 69 shares in the last quarter. Institutional investors own 90.43% of the company's stock.

Insider Transactions at Clean Harbors

In other news, EVP Brian P. Weber sold 3,035 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $227.17, for a total value of $689,460.95. Following the transaction, the executive vice president directly owned 54,548 shares in the company, valued at $12,391,669.16. This trade represents a 5.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eric W. Gerstenberg sold 8,076 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $225.23, for a total value of $1,818,957.48. Following the completion of the transaction, the chief executive officer directly owned 51,619 shares in the company, valued at approximately $11,626,147.37. This represents a 13.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,112 shares of company stock worth $3,416,406. Company insiders own 5.60% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CLH. BMO Capital Markets set a $268.00 target price on Clean Harbors and gave the stock an "outperform" rating in a research report on Thursday. Needham & Company LLC reduced their price objective on Clean Harbors from $268.00 to $255.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Truist Financial reduced their price objective on Clean Harbors from $270.00 to $250.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. UBS Group raised their price objective on Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Robert W. Baird raised their price objective on Clean Harbors from $250.00 to $255.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $263.40.

Clean Harbors Stock Up 1.9%

CLH traded up $4.29 during trading on Thursday, hitting $235.22. 199,688 shares of the company's stock traded hands, compared to its average volume of 421,433. The company's 50 day simple moving average is $229.05 and its two-hundred day simple moving average is $220.19. The company has a current ratio of 2.37, a quick ratio of 1.98 and a debt-to-equity ratio of 1.08. Clean Harbors, Inc. has a 12-month low of $178.29 and a 12-month high of $267.11. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of 32.53 and a beta of 1.16.

Clean Harbors (NYSE:CLH - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.33 by $0.03. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.59 billion. Clean Harbors had a return on equity of 15.47% and a net margin of 6.58%. The company's revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the business posted $2.46 EPS. Analysts predict that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Clean Harbors 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.