Triasima Portfolio Management inc. Purchases 3,640 Shares of Clean Harbors, Inc. $CLH

Key Points

• Triasima Portfolio Management purchased 3,640 Clean Harbors shares worth approximately $1.13 million, while institutional investors collectively own 90.43% of the company.
• Clean Harbors reported quarterly EPS of $3.22, beating estimates by $0.41, while revenue rose 11.9% year over year to $1.74 billion.
• Analysts maintain a generally positive outlook, with the stock rated “Moderate Buy” and an average price target of $357.71 versus its reported price of $320.69.

Triasima Portfolio Management inc. purchased a new position in Clean Harbors, Inc. (NYSE:CLH - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,640 shares of the business services provider's stock, valued at approximately $1,129,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Clean Harbors in the second quarter valued at $36,000. MidFirst Bank bought a new stake in shares of Clean Harbors in the 4th quarter worth about $28,000. Elevation Wealth Partners LLC lifted its holdings in shares of Clean Harbors by 317.6% in the 3rd quarter. Elevation Wealth Partners LLC now owns 142 shares of the business services provider's stock worth $44,000 after acquiring an additional 108 shares during the last quarter. Root Financial Partners LLC boosted its stake in shares of Clean Harbors by 99.2% during the 1st quarter. Root Financial Partners LLC now owns 241 shares of the business services provider's stock worth $69,000 after purchasing an additional 120 shares during the period. Finally, Cedar Mountain Advisors LLC purchased a new position in shares of Clean Harbors during the 1st quarter worth about $116,000. 90.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Clean Harbors news, Director Andrea Robertson sold 789 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $314.01, for a total transaction of $247,753.89. Following the completion of the sale, the director directly owned 8,979 shares of the company's stock, valued at approximately $2,819,495.79. This represents a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric W. Gerstenberg sold 2,500 shares of the firm'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 sale, the chief executive officer owned 56,793 shares in the company, valued at $18,249,862.62. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.00% of the stock is owned by insiders.

Clean Harbors Stock Performance

Shares of NYSE:CLH opened at $320.69 on Friday. The firm has a 50 day moving average of $316.55 and a 200 day moving average of $304.28. The company has a quick ratio of 1.80, a current ratio of 2.13 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $16.93 billion, a price-to-earnings ratio of 38.92, a price-to-earnings-growth ratio of 1.86 and a beta of 0.87. Clean Harbors, Inc. has a 52 week low of $201.34 and a 52 week high of $335.94.

Clean Harbors (NYSE:CLH - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.22 EPS for the quarter, topping the consensus estimate of $2.81 by $0.41. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.64 billion. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.36 EPS. On average, sell-side analysts predict that Clean Harbors, Inc. will post 9.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on CLH. Oppenheimer reiterated an "outperform" rating and set a $350.00 price target on shares of Clean Harbors in a report on Thursday, July 30th. William Blair assumed coverage on shares of Clean Harbors in a research note on Thursday, September 10th. They issued an "outperform" rating for the company. Wells Fargo & Company upped their target price on Clean Harbors from $313.00 to $349.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Weiss Ratings raised Clean Harbors from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, September 24th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $375.00 price target on shares of Clean Harbors in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $357.71.

About Clean Harbors

Clean Harbors, Inc provides environmental, industrial, and waste management services to commercial, industrial, government, and other customers. The company manages hazardous and non-hazardous waste through collection, transportation, treatment, recycling, and disposal services. It also provides emergency response services for chemical spills, environmental incidents, and other hazardous-material events.

Clean Harbors offers industrial maintenance and specialty services, including industrial cleaning, facility maintenance, chemical cleaning, waste handling, and turnaround support for refineries, manufacturing facilities, utilities, and other industrial operations.

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