New York Life Investment Management LLC Takes Position in Clean Harbors, Inc. $CLH

Key Points

• New York Life Investment Management opened a new position in Clean Harbors in the fourth quarter, buying 4,543 shares worth about $1.065 million.
• Clean Harbors continues to attract heavy institutional interest, with 90.43% of its stock owned by hedge funds and other institutional investors.
• The company reported better-than-expected quarterly earnings of $1.19 per share, while analysts currently see the stock as a Moderate Buy with a consensus price target of $322.08.

New York Life Investment Management LLC acquired a new stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,543 shares of the business services provider's stock, valued at approximately $1,065,000.

Other hedge funds also recently bought and sold shares of the company. Root Financial Partners LLC purchased a new stake in Clean Harbors during the third quarter valued at about $30,000. V Square Quantitative Management LLC purchased a new stake in Clean Harbors during the fourth quarter valued at about $34,000. True Wealth Design LLC lifted its stake in Clean Harbors by 102.7% during the fourth quarter. True Wealth Design LLC now owns 152 shares of the business services provider's stock valued at $36,000 after buying an additional 77 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Clean Harbors by 58.5% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the business services provider's stock valued at $51,000 after buying an additional 83 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in Clean Harbors during the third quarter valued at about $71,000. 90.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Clean Harbors

In related news, CEO Eric W. Gerstenberg sold 1,000 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $293.00, for a total transaction of $293,000.00. Following the completion of the sale, the chief executive officer directly owned 38,877 shares in the company, valued at approximately $11,390,961. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eric J. Dugas sold 2,788 shares of the firm's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $281.31, for a total transaction of $784,292.28. Following the transaction, the chief financial officer directly owned 15,933 shares in the company, valued at approximately $4,482,112.23. The trade was a 14.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 13,597 shares of company stock valued at $3,895,286 in the last quarter. Corporate insiders own 5.00% of the company's stock.

Clean Harbors Price Performance

NYSE CLH opened at $292.75 on Wednesday. The company has a 50 day simple moving average of $295.91 and a 200-day simple moving average of $264.13. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.34 and a quick ratio of 1.99. The firm has a market capitalization of $15.47 billion, a price-to-earnings ratio of 39.67 and a beta of 0.92. Clean Harbors, Inc. has a 52-week low of $201.34 and a 52-week high of $316.98.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. Clean Harbors had a return on equity of 14.37% and a net margin of 6.53%.The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the company earned $1.09 earnings per share. Clean Harbors's quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts predict that Clean Harbors, Inc. will post 8.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on CLH shares. Wall Street Zen lowered Clean Harbors from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings lowered Clean Harbors from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, April 9th. Oppenheimer increased their target price on Clean Harbors from $310.00 to $316.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. Barclays increased their target price on Clean Harbors from $280.00 to $304.00 and gave the company an "equal weight" rating in a report on Monday, May 11th. Finally, BMO Capital Markets increased their target price on Clean Harbors from $290.00 to $310.00 and gave the company an "outperform" rating in a report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Clean Harbors presently has a consensus rating of "Moderate Buy" and a consensus price target of $322.08.

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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