Tidal Investments LLC Cuts Stock Position in Clean Harbors, Inc. $CLH

Key Points

• Tidal Investments cut its Clean Harbors stake by 53.8% in the second quarter, selling 38,724 shares and retaining 33,222 shares worth approximately $9.9 million. Institutional investors and hedge funds collectively own 90.43% of the company.
• Analyst sentiment remains positive, with Clean Harbors receiving an overall “Moderate Buy” rating and an average price target of $354.57. Recent actions included a $377 target and “Buy” rating from Bank of America and an “Outperform” initiation from William Blair.
• Clean Harbors reported strong quarterly results, posting $3.22 in EPS versus the $2.81 consensus estimate and $1.74 billion in revenue, up 11.9% year over year. Shares opened at $322.41, near their 12-month high of $335.94.

Tidal Investments LLC cut its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 53.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 33,222 shares of the business services provider's stock after selling 38,724 shares during the period. Tidal Investments LLC owned about 0.06% of Clean Harbors worth $9,925,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CLH. Integrated Wealth Concepts LLC grew its stake in Clean Harbors by 102.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,187 shares of the business services provider's stock valued at $431,000 after acquiring an additional 1,109 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Clean Harbors by 47.7% during the 1st quarter. Jones Financial Companies Lllp now owns 607 shares of the business services provider's stock worth $120,000 after purchasing an additional 196 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Clean Harbors by 12.1% during the first quarter. Goldman Sachs Group Inc. now owns 54,577 shares of the business services provider's stock valued at $10,757,000 after acquiring an additional 5,884 shares during the last quarter. Russell Investments Group Ltd. raised its position in Clean Harbors by 65.1% in the second quarter. Russell Investments Group Ltd. now owns 4,837 shares of the business services provider's stock valued at $1,118,000 after purchasing an additional 1,908 shares during the period. Finally, Baird Financial Group Inc. raised its holdings in shares of Clean Harbors by 1.4% in the 2nd quarter. Baird Financial Group Inc. now owns 4,418 shares of the business services provider's stock valued at $1,021,000 after buying an additional 60 shares during the period. 90.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Clean Harbors news, Director Andrea Robertson sold 789 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $314.01, for a total transaction of $247,753.89. Following the completion of the transaction, the director owned 8,979 shares of the company's stock, valued at approximately $2,819,495.79. This trade represents a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eric Gerstenberg sold 2,500 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer directly owned 56,793 shares of the company's stock, 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. 5.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on CLH. The Goldman Sachs Group reiterated a "neutral" rating on shares of Clean Harbors in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Clean Harbors from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Wells Fargo & Company lifted their target price on Clean Harbors from $313.00 to $349.00 and gave the stock an "equal weight" rating in a research report on Friday, July 31st. Bank of America set a $377.00 price target on shares of Clean Harbors and gave the stock a "buy" rating in a research note on Thursday, July 30th. Finally, William Blair initiated coverage on Clean Harbors in a research note on Thursday. They issued an "outperform" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $354.57.

Clean Harbors Trading Up 0.5%

Shares of Clean Harbors stock opened at $322.41 on Friday. The company has a 50-day moving average of $311.99 and a two-hundred day moving average of $299.33. The stock has a market cap of $17.02 billion, a PE ratio of 39.13, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. Clean Harbors, Inc. has a 12-month low of $201.34 and a 12-month high of $335.94. The company has a current ratio of 2.13, a quick ratio of 1.80 and a debt-to-equity ratio of 0.94.

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

Clean Harbors Profile

Clean Harbors, Inc provides environmental, energy and industrial services throughout the United States and Canada. The company manages hazardous and non-hazardous waste through services that include collection, transportation, treatment, disposal, recycling and incineration. It also provides emergency spill response, wastewater treatment and specialized environmental remediation.

Through its industrial services operations, Clean Harbors supports refineries, chemical plants, utilities, manufacturers and other industrial customers with maintenance, cleaning, turnaround and specialty services.

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