Tribune Investment Group LP Takes Position in Clean Harbors, Inc. $CLH

Key Points

• Tribune Investment Group LP invested approximately $12.81 million in Clean Harbors, acquiring 65,000 shares, which makes up 5.5% of its holdings and its third-largest position.
• Insider transactions included CEO Eric W. Gerstenberg selling 8,076 shares, resulting in a 13.53% decrease in his ownership, while Director Alison A. Quirk sold 893 shares, decreasing her ownership by 23.07%.
• Several analyst firms have raised their price targets for Clean Harbors, with a consensus rating of "Moderate Buy" and an average price target of $263.40, highlighting strong market optimism.

Tribune Investment Group LP purchased a new stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 65,000 shares of the business services provider's stock, valued at approximately $12,812,000. Clean Harbors comprises about 5.5% of Tribune Investment Group LP's portfolio, making the stock its 3rd largest holding. Tribune Investment Group LP owned 0.12% of Clean Harbors at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CLH. Hopwood Financial Services Inc. purchased a new position in Clean Harbors during the first quarter valued at approximately $30,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Clean Harbors during the fourth quarter worth $32,000. Banque Cantonale Vaudoise acquired a new position in Clean Harbors during the first quarter valued at $48,000. Blue Trust Inc. lifted its position in Clean Harbors by 25.8% during the first quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock valued at $54,000 after purchasing an additional 56 shares during the period. Finally, Horizon Investments LLC increased its stake in shares of Clean Harbors by 42.0% in the 1st quarter. Horizon Investments LLC now owns 284 shares of the business services provider's stock valued at $56,000 after purchasing an additional 84 shares in the last quarter. 90.43% of the stock is owned by hedge funds and other institutional investors.

Clean Harbors Price Performance

CLH traded up $3.8150 on Friday, hitting $248.3750. 219,509 shares of the company were exchanged, compared to its average volume of 421,452. Clean Harbors, Inc. has a fifty-two week low of $178.29 and a fifty-two week high of $267.11. The business's fifty day moving average is $234.47 and its 200 day moving average is $220.58. The firm has a market capitalization of $13.32 billion, a P/E ratio of 34.88 and a beta of 1.18. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.07 and a current ratio of 2.45.

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

Insiders Place Their Bets

In other news, Director John R. Welch sold 1,250 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $228.51, for a total value of $285,637.50. Following the completion of the transaction, the director owned 11,402 shares in the company, valued at approximately $2,605,471.02. This represents a 9.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Louis Battles acquired 2,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were bought at an average cost of $233.50 per share, for a total transaction of $467,000.00. Following the acquisition, the chief executive officer owned 82,911 shares in the company, valued at approximately $19,359,718.50. The trade was a 2.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 15,112 shares of company stock valued at $3,422,651 over the last 90 days. 5.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CLH shares. Wall Street Zen raised Clean Harbors from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Robert W. Baird upped their price objective on shares of Clean Harbors from $250.00 to $255.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Needham & Company LLC dropped their price objective on shares of Clean Harbors from $268.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. UBS Group upped their price objective on shares of Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Finally, BMO Capital Markets set a $268.00 price objective on Clean Harbors and gave the company an "outperform" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Clean Harbors presently has a consensus rating of "Moderate Buy" and an average target price of $263.40.

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.