Versor Investments LP Purchases New Shares in Clean Harbors, Inc. $CLH

Key Points

• Versor Investments LP made a new investment of approximately $410,000 in Clean Harbors, Inc. by purchasing 2,082 shares during the first quarter of the year.
• Clean Harbors recently reported quarterly earnings of $2.36 per share, exceeding expectations, although revenue was slightly down from last year.
• Insider trading activity included CEO Eric W. Gerstenberg selling 8,076 shares, reflecting a 13.53% decrease in his ownership of the stock.

Versor Investments LP purchased a new stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,082 shares of the business services provider's stock, valued at approximately $410,000.

Several other hedge funds have also recently modified their holdings of CLH. LBP AM SA increased its holdings in shares of Clean Harbors by 137.4% during the first quarter. LBP AM SA now owns 193,639 shares of the business services provider's stock valued at $38,166,000 after acquiring an additional 112,073 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Clean Harbors by 28.1% during the fourth quarter. Northern Trust Corp now owns 498,217 shares of the business services provider's stock valued at $114,660,000 after acquiring an additional 109,209 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Clean Harbors by 309.0% during the first quarter. Assenagon Asset Management S.A. now owns 143,977 shares of the business services provider's stock valued at $28,378,000 after acquiring an additional 108,779 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in shares of Clean Harbors by 32.0% during the first quarter. DAVENPORT & Co LLC now owns 448,677 shares of the business services provider's stock valued at $88,446,000 after acquiring an additional 108,779 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Clean Harbors during the first quarter valued at about $21,176,000. Institutional investors and hedge funds own 90.43% of the company's stock.

Insider Buying and Selling at Clean Harbors

In other news, CEO Eric W. Gerstenberg sold 8,076 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $225.23, for a total transaction of $1,818,957.48. Following the sale, the chief executive officer owned 51,619 shares of the company's stock, valued at $11,626,147.37. This trade represents a 13.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Louis Battles acquired 2,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were purchased at an average cost of $233.50 per share, for a total transaction of $467,000.00. Following the purchase, the chief executive officer directly 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. Over the last ninety days, insiders have sold 15,112 shares of company stock worth $3,422,651. 5.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CLH has been the topic of several recent analyst reports. Raymond James Financial upped their price objective on shares of Clean Harbors from $278.00 to $280.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. Wall Street Zen raised shares of Clean Harbors from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Needham & Company LLC reduced their price target on shares of Clean Harbors from $268.00 to $255.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Robert W. Baird raised their price target on shares of Clean Harbors from $250.00 to $255.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, UBS Group raised their price target on shares of Clean Harbors from $220.00 to $240.00 and gave the stock a "neutral" rating in a research 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $263.40.

Clean Harbors Stock Performance

Shares of NYSE CLH traded up $3.8150 during midday trading on Friday, reaching $248.3750. 219,509 shares of the stock were exchanged, compared to its average volume of 421,452. The firm has a market cap of $13.32 billion, a price-to-earnings ratio of 34.88 and a beta of 1.18. Clean Harbors, Inc. has a twelve month low of $178.29 and a twelve month high of $267.11. The firm has a 50-day simple moving average of $234.47 and a two-hundred day simple moving average of $220.58. The company has a quick ratio of 2.07, a current ratio of 2.45 and a debt-to-equity ratio of 1.02.

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

Clean Harbors Company Profile

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.