TimesSquare Capital Management LLC Invests $2.03 Million in Clean Harbors, Inc. $CLH

Key Points

• TimesSquare Capital Management initiated a $2.03 million stake in Clean Harbors during the second quarter, while institutional investors collectively own 90.43% of the company.
• Clean Harbors exceeded quarterly expectations, reporting $3.22 in EPS versus the $2.81 estimate and $1.74 billion in revenue, up 11.9% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $354.57, although two directors recently sold shares.

TimesSquare Capital Management LLC bought a new stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 6,796 shares of the business services provider's stock, valued at approximately $2,030,000.

Several other institutional investors also recently bought and sold shares of CLH. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Clean Harbors during the 2nd quarter worth approximately $36,000. Simplicity Wealth LLC bought a new stake in Clean Harbors in the second quarter valued at approximately $1,082,000. Global Retirement Partners LLC purchased a new stake in shares of Clean Harbors during the second quarter valued at approximately $827,000. Bank of New York Mellon Corp purchased a new stake in shares of Clean Harbors during the second quarter valued at approximately $105,962,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in shares of Clean Harbors in the second quarter worth approximately $255,000. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CLH. Needham & Company LLC lifted their target price on shares of Clean Harbors from $325.00 to $390.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Barclays boosted their price objective on shares of Clean Harbors from $305.00 to $325.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. UBS Group raised their target price on Clean Harbors from $300.00 to $315.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Weiss Ratings raised Clean Harbors from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company lifted their price objective 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. Two 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $354.57.

Insider Activity at Clean Harbors

In related news, Director Lauren States sold 789 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $286.19, for a total transaction of $225,803.91. Following the completion of the sale, the director owned 11,359 shares of the company's stock, valued at $3,250,832.21. This trade represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrea Robertson sold 789 shares of the business's stock in a transaction that occurred 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. The trade was a 8.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.00% of the company's stock.

Clean Harbors Trading Up 1.4%

NYSE CLH opened at $326.36 on Tuesday. The stock's fifty day moving average price is $302.52 and its 200-day moving average price is $293.06. The company has a current ratio of 2.13, a quick ratio of 1.80 and a debt-to-equity ratio of 0.94. The stock has a market cap of $17.23 billion, a P/E ratio of 39.61, a P/E/G ratio of 2.12 and a beta of 0.86. Clean Harbors, Inc. has a 12 month low of $201.34 and a 12 month high of $335.94.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.81 by $0.41. The company had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.64 billion. Clean Harbors had a net margin of 7.03% and a return on equity of 15.65%. Clean Harbors's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.36 EPS. As a group, equities analysts forecast that Clean Harbors, Inc. will post 9.51 EPS for the current fiscal year.

About Clean Harbors

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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