Strs Ohio Makes New $31.31 Million Investment in Clean Harbors, Inc. $CLH

Key Points

• Strs Ohio invested approximately $31.31 million in Clean Harbors, acquiring 158,863 shares, making it a notable institutional player in the company.
• CEO Michael Louis Battles bought 2,000 shares at a price of $233.50 each, increasing his ownership by 2.47% to approximately $19.36 million.
• Clean Harbors reported a quarterly EPS of $2.36, beating estimates, yet revenue fell short, leading analysts to project a 7.89 EPS for the current fiscal year.

Strs Ohio acquired a new position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 158,863 shares of the business services provider's stock, valued at approximately $31,312,000. Strs Ohio owned 0.30% of Clean Harbors as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its position in Clean Harbors by 30.9% during the first quarter. Wellington Management Group LLP now owns 5,293,796 shares of the business services provider's stock worth $1,043,407,000 after buying an additional 1,249,704 shares in the last quarter. Select Equity Group L.P. lifted its position in shares of Clean Harbors by 4.8% in the 4th quarter. Select Equity Group L.P. now owns 1,751,478 shares of the business services provider's stock worth $403,085,000 after acquiring an additional 80,436 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Clean Harbors by 127.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 899,566 shares of the business services provider's stock worth $177,304,000 after purchasing an additional 504,290 shares in the last quarter. Zurich Insurance Group Ltd FI grew its holdings in shares of Clean Harbors by 21.7% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 520,910 shares of the business services provider's stock worth $119,882,000 after purchasing an additional 92,785 shares in the last quarter. Finally, Impax Asset Management Group plc increased its position in shares of Clean Harbors by 11.1% during the first quarter. Impax Asset Management Group plc now owns 483,253 shares of the business services provider's stock valued at $94,002,000 after purchasing an additional 48,447 shares during the period. Institutional investors own 90.43% of the company's stock.

Clean Harbors Price Performance

Shares of Clean Harbors stock traded down $1.07 during mid-day trading on Monday, reaching $234.96. 249,586 shares of the stock were exchanged, compared to its average volume of 410,745. Clean Harbors, Inc. has a fifty-two week low of $178.29 and a fifty-two week high of $267.11. The company has a market cap of $12.60 billion, a price-to-earnings ratio of 33.00 and a beta of 1.22. The firm has a 50-day simple moving average of $237.82 and a 200 day simple moving average of $222.28. The company has a current ratio of 2.45, a quick ratio of 2.07 and a debt-to-equity ratio of 1.02.

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

Insider Buying and Selling

In other Clean Harbors news, Director Andrea Robertson sold 836 shares of Clean Harbors stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $233.64, for a total value of $195,323.04. Following the completion of the transaction, the director owned 9,888 shares in the company, valued at approximately $2,310,232.32. The trade was a 7.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Louis Battles bought 2,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were acquired at an average price of $233.50 per share, for a total transaction of $467,000.00. Following the acquisition, 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 position. The disclosure for this purchase can be found here. 5.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on CLH. Oppenheimer raised their target price on Clean Harbors from $254.00 to $256.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. UBS Group raised their price objective on shares of 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 company an "outperform" rating in a research report on Thursday, July 31st. Finally, Raymond James Financial upped their target price on shares of Clean Harbors from $278.00 to $280.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 31st. One research 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. According to MarketBeat.com, Clean Harbors presently has a consensus rating of "Moderate Buy" and a consensus target price of $263.40.

Clean Harbors Company 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.