Pillsbury Lake Capital LLC Takes Position in Clean Harbors, Inc. $CLH

Key Points

• Pillsbury Lake Capital acquired 49,604 Clean Harbors shares, representing about 0.09% of the company and 4% of its portfolio. Institutional investors and hedge funds collectively own 90.43% of the stock.
• Clean Harbors reported quarterly earnings of $3.22 per share, beating estimates of $2.81, while revenue rose 11.9% year over year to $1.74 billion.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $354.57, above the reported share price of $313.20; however, the CEO and a director recently sold company shares.

Pillsbury Lake Capital LLC purchased a new position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 49,604 shares of the business services provider's stock, valued at approximately $14,819,195,000. Clean Harbors comprises approximately 4.0% of Pillsbury Lake Capital LLC's investment portfolio, making the stock its 5th largest holding. Pillsbury Lake Capital LLC owned about 0.09% of Clean Harbors as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the company. Elyxium Wealth LLC acquired a new stake in Clean Harbors during the fourth quarter valued at approximately $26,000. Quattro Advisors LLC acquired a new position in shares of Clean Harbors in the 4th quarter worth approximately $26,000. MidFirst Bank acquired a new position in shares of Clean Harbors in the 4th quarter worth approximately $28,000. Parkside Financial Bank & Trust increased its holdings in shares of Clean Harbors by 205.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 119 shares of the business services provider's stock valued at $28,000 after acquiring an additional 80 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Clean Harbors by 676.5% in the 4th quarter. Larson Financial Group LLC now owns 132 shares of the business services provider's stock valued at $31,000 after acquiring an additional 115 shares during the last quarter. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Clean Harbors Stock Performance

CLH stock opened at $313.20 on Thursday. Clean Harbors, Inc. has a 1 year low of $201.34 and a 1 year high of $335.94. The stock has a market capitalization of $16.53 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 1.99 and a beta of 0.86. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.80 and a current ratio of 2.13. The stock's fifty day moving average is $306.62 and its two-hundred day moving average is $295.86.

Clean Harbors (NYSE:CLH - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.22 EPS for the quarter, topping the consensus estimate of $2.81 by $0.41. Clean Harbors had a net margin of 7.03% and a return on equity of 15.65%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the firm earned $2.36 earnings per share. The company's quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts predict that Clean Harbors, Inc. will post 9.72 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CLH. Wall Street Zen upgraded Clean Harbors from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. The Goldman Sachs Group reiterated a "neutral" rating on shares of Clean Harbors in a research note on Wednesday, July 29th. UBS Group increased their target price on shares of Clean Harbors from $300.00 to $315.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Needham & Company LLC raised their price target on shares of Clean Harbors from $325.00 to $390.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, Bank of America set a $377.00 price target on shares of Clean Harbors and gave the company a "buy" rating in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $354.57.

Insider Transactions at Clean Harbors

In other Clean Harbors news, Director Andrea Robertson sold 789 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $314.01, for a total value of $247,753.89. Following the completion of the transaction, the director owned 8,979 shares in the company, valued at approximately $2,819,495.79. This represents a 8.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric W. Gerstenberg sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $321.34, for a total transaction of $803,350.00. Following the completion of the sale, the chief executive officer owned 56,793 shares in the company, valued at $18,249,862.62. The trade was a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.00% of the company's stock.

Clean Harbors 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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