Optas LLC Purchases Shares of 4,488 Clean Harbors, Inc. $CLH

Key Points

• Optas LLC purchased a new stake of 4,488 shares in Clean Harbors during Q4 (about $1.05M), and institutional investors now own roughly 90.43% of the company's stock.
• Multiple analysts (Oppenheimer, Needham, Baird, Citigroup, Truist) recently raised ratings and price targets, leaving an average consensus of "Moderate Buy" and an average target price of $314.00.
• Clean Harbors beat Q4 estimates with EPS of $1.62 versus $1.59 and revenue of $1.50B versus $1.46B, and its shares trade around $304 with a market cap of $16.21B.

Optas LLC purchased a new stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,488 shares of the business services provider's stock, valued at approximately $1,052,000.

Other large investors have also added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in shares of Clean Harbors during the third quarter valued at about $30,000. V Square Quantitative Management LLC bought a new position in shares of Clean Harbors during the fourth quarter valued at about $34,000. True Wealth Design LLC grew its stake in shares of 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 during the last quarter. Bayforest Capital Ltd bought a new position in shares of Clean Harbors during the third quarter valued at about $44,000. Finally, First Horizon Corp bought a new position in shares of Clean Harbors during the third quarter valued at about $44,000. Hedge funds and other institutional investors own 90.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CLH shares. Oppenheimer raised their price objective on Clean Harbors from $283.00 to $300.00 and gave the company an "outperform" rating in a research note on Thursday, February 19th. Needham & Company LLC raised their target price on Clean Harbors from $290.00 to $308.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th. Robert W. Baird raised their target price on Clean Harbors from $300.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. Citigroup raised Clean Harbors from a "neutral" rating to a "buy" rating and raised their target price for the stock from $302.00 to $346.00 in a research note on Wednesday, April 8th. Finally, Truist Financial raised their price objective on shares of Clean Harbors from $310.00 to $325.00 and gave the stock a "buy" rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $314.00.

Clean Harbors Stock Up 1.1%

Shares of NYSE:CLH opened at $304.05 on Tuesday. Clean Harbors, Inc. has a 52-week low of $201.34 and a 52-week high of $316.98. The firm has a market capitalization of $16.21 billion, a P/E ratio of 41.76 and a beta of 0.94. The stock has a 50 day moving average price of $288.51 and a 200-day moving average price of $255.28. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.33.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its earnings results on Wednesday, February 18th. The business services provider reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.03. Clean Harbors had a return on equity of 14.47% and a net margin of 6.48%.The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the company earned $1.55 EPS. The business's revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Clean Harbors, Inc. will post 8.16 EPS for the current fiscal year.

Insider Transactions at Clean Harbors

In other news, CEO Eric W. Gerstenberg sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $293.00, for a total value of $293,000.00. Following the sale, the chief executive officer directly owned 38,877 shares of the company's stock, valued at $11,390,961. The trade was a 2.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Brian P. Weber sold 4,683 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $293.39, for a total value of $1,373,945.37. Following the completion of the sale, the executive vice president directly owned 48,728 shares in the company, valued at approximately $14,296,307.92. This represents a 8.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 13,597 shares of company stock worth $3,895,286. Company insiders own 5.00% of the company's stock.

Clean Harbors Company Profile

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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