Clean Harbors, Inc. (NYSE:CLH) is Telemark Asset Management LLC's 9th Largest Position

Key Points

• Telemark Asset Management LLC has reduced its stake in Clean Harbors, Inc. by 15.4% to approximately $21.68 million, making it the fund's 9th largest holding.
• Several institutional investors, including Cambridge Investment Research Advisors and Janney Montgomery Scott, have increased their stakes in Clean Harbors during the first quarter of 2023.
• Research analysts have set a consensus price target of $263.40 for Clean Harbors, with ratings ranging from "hold" to "strong buy."

Telemark Asset Management LLC trimmed its position in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,000 shares of the business services provider's stock after selling 20,000 shares during the period. Clean Harbors accounts for 2.8% of Telemark Asset Management LLC's portfolio, making the stock its 9th biggest position. Telemark Asset Management LLC owned approximately 0.21% of Clean Harbors worth $21,681,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Russell Investments Group Ltd. raised its stake in shares of Clean Harbors by 267.1% in the fourth quarter. Russell Investments Group Ltd. now owns 16,220 shares of the business services provider's stock worth $3,733,000 after buying an additional 11,801 shares during the period. Bank of Montreal Can raised its stake in Clean Harbors by 1.9% during the 4th quarter. Bank of Montreal Can now owns 41,410 shares of the business services provider's stock valued at $9,530,000 after purchasing an additional 781 shares during the period. FIL Ltd raised its stake in Clean Harbors by 0.5% during the 4th quarter. FIL Ltd now owns 184,381 shares of the business services provider's stock valued at $42,433,000 after purchasing an additional 965 shares during the period. Advisory Services Network LLC bought a new stake in Clean Harbors during the 4th quarter valued at approximately $1,039,000. Finally, Scotia Capital Inc. raised its stake in Clean Harbors by 0.4% during the 4th quarter. Scotia Capital Inc. now owns 14,262 shares of the business services provider's stock valued at $3,282,000 after purchasing an additional 59 shares during the period. 90.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CLH has been the subject of several research analyst reports. Oppenheimer raised their price target on Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Needham & Company LLC reduced their price objective on Clean Harbors from $268.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen upgraded Clean Harbors from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. BMO Capital Markets set a $268.00 price target on Clean Harbors and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, UBS Group increased their price target on Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $263.40.

Insider Buying and Selling at Clean Harbors

In related news, Director John R. Welch sold 1,250 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $228.51, for a total value of $285,637.50. Following the completion of the sale, the director directly owned 11,402 shares of the company's stock, valued at $2,605,471.02. This represents a 9.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Louis Battles bought 2,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 82,911 shares in the company, valued at approximately $19,359,718.50. This trade represents a 2.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 15,948 shares of company stock worth $3,611,729. Corporate insiders own 5.60% of the company's stock.

Clean Harbors Trading Up 2.1%

NYSE:CLH traded up $5.11 on Tuesday, reaching $243.14. The company's stock had a trading volume of 91,439 shares, compared to its average volume of 421,964. Clean Harbors, Inc. has a 12-month low of $178.29 and a 12-month high of $267.11. 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 firm has a market cap of $13.04 billion, a price-to-earnings ratio of 34.14 and a beta of 1.18. The stock has a 50 day moving average price of $230.89 and a 200 day moving average price of $219.86.

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

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.