VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 3,320 Clean Harbors, Inc. $CLH

Key Points

• Virginia Retirement Systems purchased 3,320 Clean Harbors shares valued at approximately $992,000, while institutional investors and hedge funds collectively own 90.43% of the company.
• Analyst sentiment is favorable, with Clean Harbors receiving a “Moderate Buy” consensus rating and an average price target of $354.57; Needham raised its target to $390.
• Clean Harbors exceeded quarterly expectations, reporting $3.22 in earnings per share and $1.74 billion in revenue, up 11.9% year over year. However, the CEO and a director recently sold shares.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,320 shares of the business services provider's stock, valued at approximately $992,000.

A number of other institutional investors have also modified their holdings of the company. Assetmark Inc. lifted its stake in Clean Harbors by 8.9% during the 1st quarter. Assetmark Inc. now owns 430 shares of the business services provider's stock worth $123,000 after acquiring an additional 35 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Clean Harbors by 2.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,995 shares of the business services provider's stock valued at $572,000 after acquiring an additional 50 shares during the period. SkyView Investment Advisors LLC grew its position in Clean Harbors by 2.3% in the 2nd quarter. SkyView Investment Advisors LLC now owns 2,378 shares of the business services provider's stock valued at $549,000 after acquiring an additional 53 shares in the last quarter. US Bancorp DE increased its stake in Clean Harbors by 16.9% during the third quarter. US Bancorp DE now owns 374 shares of the business services provider's stock worth $87,000 after purchasing an additional 54 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its stake in Clean Harbors by 2.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,121 shares of the business services provider's stock worth $608,000 after purchasing an additional 59 shares during the period. 90.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CLH has been the subject of several recent research reports. Weiss Ratings raised shares of Clean Harbors from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 30th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Clean Harbors in a report on Wednesday, July 29th. William Blair assumed coverage on shares of Clean Harbors in a research note on Thursday. They issued an "outperform" rating for the company. Barclays upped their price objective on Clean Harbors from $305.00 to $325.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Finally, Needham & Company LLC lifted their target price on Clean Harbors from $325.00 to $390.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $354.57.

Clean Harbors Stock Performance

Shares of Clean Harbors stock opened at $322.41 on Monday. The company has a quick ratio of 1.80, a current ratio of 2.13 and a debt-to-equity ratio of 0.94. Clean Harbors, Inc. has a 52 week low of $201.34 and a 52 week high of $335.94. The firm's 50 day moving average is $311.99 and its two-hundred day moving average is $299.47. The firm has a market capitalization of $17.02 billion, a P/E ratio of 39.13, a P/E/G ratio of 2.08 and a beta of 0.85.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.41. Clean Harbors had a net margin of 7.03% and a return on equity of 15.65%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the firm earned $2.36 EPS. The company's revenue was up 11.9% compared to the same quarter last year. Research analysts forecast that Clean Harbors, Inc. will post 9.73 EPS for the current fiscal year.

Insider Activity

In other news, CEO Eric Gerstenberg sold 2,500 shares of Clean Harbors stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $321.34, for a total transaction of $803,350.00. Following the sale, the chief executive officer owned 56,793 shares in the company, valued at approximately $18,249,862.62. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrea Robertson sold 789 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $314.01, for a total value 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 trade represents a 8.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.00% of the company's stock.

Clean Harbors Company 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.

Want to see what other hedge funds are holding CLH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Clean Harbors, Inc. (NYSE:CLH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.