Southeast Asset Advisors LLC Decreases Stake in Clean Harbors, Inc. $CLH

Key Points

• Southeast Asset Advisors LLC reduced its stake in Clean Harbors, Inc. by 25.8% during Q1, now holding shares valued at $1.71 million.
• Clean Harbors reported quarterly earnings of $2.36 per share, slightly exceeding the consensus estimate, though revenue was down 0.2% from the previous year.
• Institutional investors own approximately 90.43% of Clean Harbors stock, indicating strong institutional interest in the company.

Southeast Asset Advisors LLC decreased its position in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 25.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,694 shares of the business services provider's stock after selling 3,028 shares during the quarter. Southeast Asset Advisors LLC's holdings in Clean Harbors were worth $1,714,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CLH. Wellington Management Group LLP grew its holdings in shares of Clean Harbors by 30.9% during the 1st quarter. Wellington Management Group LLP now owns 5,293,796 shares of the business services provider's stock worth $1,043,407,000 after purchasing an additional 1,249,704 shares in the last quarter. Select Equity Group L.P. lifted its position in Clean Harbors by 4.8% during the fourth quarter. Select Equity Group L.P. now owns 1,751,478 shares of the business services provider's stock worth $403,085,000 after purchasing an additional 80,436 shares during the period. Janus Henderson Group PLC lifted its stake in Clean Harbors by 0.8% during the fourth quarter. Janus Henderson Group PLC now owns 1,612,082 shares of the business services provider's stock worth $371,002,000 after purchasing an additional 13,167 shares during the last quarter. Zurich Insurance Group Ltd FI increased its stake in shares of Clean Harbors by 21.7% in the 4th quarter. Zurich Insurance Group Ltd FI now owns 520,910 shares of the business services provider's stock valued at $119,882,000 after purchasing an additional 92,785 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Clean Harbors by 28.1% during the 4th quarter. Northern Trust Corp now owns 498,217 shares of the business services provider's stock worth $114,660,000 after buying an additional 109,209 shares in the last quarter. 90.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Michael Louis Battles bought 2,000 shares of Clean Harbors stock in a transaction dated Friday, August 1st. The stock was purchased at an average cost of $233.50 per share, with a total value of $467,000.00. Following the transaction, the chief executive officer directly owned 82,911 shares of the company's stock, valued at approximately $19,359,718.50. The trade was a 2.47% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alison A. Quirk sold 893 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $223.69, for a total transaction of $199,755.17. Following the sale, the director owned 2,978 shares of the company's stock, valued at approximately $666,148.82. The trade was a 23.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,840 shares of company stock worth $2,903,497 in the last ninety days. Corporate insiders own 5.60% of the company's stock.

Clean Harbors Stock Down 0.8%

NYSE:CLH traded down $2.05 during trading hours on Thursday, hitting $243.57. 236,677 shares of the company traded hands, compared to its average volume of 414,204. The company has a quick ratio of 2.07, a current ratio of 2.45 and a debt-to-equity ratio of 1.02. The company has a market cap of $13.06 billion, a PE ratio of 34.21 and a beta of 1.18. The firm's 50-day simple moving average is $235.60 and its 200-day simple moving average is $220.88. Clean Harbors, Inc. has a one year low of $178.29 and a one year high of $267.11.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its earnings results on Wednesday, July 30th. The business services provider reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.03. Clean Harbors had a net margin of 6.48% and a return on equity of 14.82%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the business posted $2.46 EPS. The business's revenue was down .2% compared to the same quarter last year. Equities analysts predict that Clean Harbors, Inc. will post 7.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. UBS Group boosted their price target on Clean Harbors from $220.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. BMO Capital Markets set a $268.00 target price on shares of Clean Harbors and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Needham & Company LLC dropped their price target on shares of Clean Harbors from $268.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Robert W. Baird boosted their price objective on shares of Clean Harbors from $250.00 to $255.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, Oppenheimer increased their price objective on Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $263.40.

About Clean Harbors

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.