Wellington Management Group LLP Has $1.04 Billion Stock Position in Clean Harbors, Inc. $CLH

Key Points

• Wellington Management Group LLP increased its stake in Clean Harbors by 30.9%, owning approximately 5.29 million shares valued at over $1 billion as of the latest SEC filing.
• Institutional investors own about 90.43% of Clean Harbors' stock, indicating strong support from large entities in the market.
• Clean Harbors' latest quarterly earnings showed an EPS of $2.36, surpassing analysts' expectations, although revenue was slightly below predictions, registering at $1.55 billion.

Wellington Management Group LLP boosted its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 30.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,293,796 shares of the business services provider's stock after buying an additional 1,249,704 shares during the period. Wellington Management Group LLP owned approximately 9.88% of Clean Harbors worth $1,043,407,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Versor Investments LP bought a new position in shares of Clean Harbors during the 1st quarter worth approximately $410,000. Corient IA LLC bought a new position in shares of Clean Harbors during the 1st quarter worth approximately $394,000. Cresset Asset Management LLC grew its stake in shares of Clean Harbors by 1.0% during the 1st quarter. Cresset Asset Management LLC now owns 88,892 shares of the business services provider's stock worth $17,521,000 after acquiring an additional 843 shares in the last quarter. Horizon Investments LLC grew its stake in shares of Clean Harbors by 42.0% during the 1st quarter. Horizon Investments LLC now owns 284 shares of the business services provider's stock worth $56,000 after acquiring an additional 84 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. grew its stake in shares of Clean Harbors by 17.8% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 6,692 shares of the business services provider's stock worth $1,319,000 after acquiring an additional 1,011 shares in the last quarter. 90.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CLH. 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 note on Thursday, May 1st. Truist Financial decreased their price target on shares of Clean Harbors from $270.00 to $250.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. 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 note on Thursday, July 31st. Needham & Company LLC decreased their target price 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. Finally, Oppenheimer raised their target price on shares of Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $263.40.

Insider Activity at Clean Harbors

In other news, Director Alison A. Quirk sold 893 shares of Clean Harbors stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $223.69, for a total transaction of $199,755.17. Following the completion of the sale, the director owned 2,978 shares of the company's stock, valued at approximately $666,148.82. This trade represents a 23.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Louis Battles bought 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, with a total value of $467,000.00. Following the acquisition, the chief executive officer directly owned 82,911 shares of the company's stock, valued at approximately $19,359,718.50. This represents a 2.47% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 15,948 shares of company stock valued at $3,611,729. 5.60% of the stock is currently owned by insiders.

Clean Harbors Price Performance

NYSE:CLH opened at $243.36 on Monday. The company has a current ratio of 2.45, a quick ratio of 2.07 and a debt-to-equity ratio of 1.02. The firm has a fifty day simple moving average of $232.58 and a 200 day simple moving average of $220.13. Clean Harbors, Inc. has a 1-year low of $178.29 and a 1-year high of $267.11. The stock has a market capitalization of $13.05 billion, a PE ratio of 34.18 and a beta of 1.18.

Clean Harbors (NYSE:CLH - Get Free Report) last released 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. Clean Harbors had a net margin of 6.48% and a return on equity of 14.82%. The firm had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same period in the previous year, the business posted $2.46 earnings per share. The company's revenue for the quarter was down .2% compared to the same quarter last year. On average, research analysts expect 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.

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