William Blair Investment Management LLC Purchases New Shares in Clean Harbors, Inc. $CLH

Key Points

• William Blair Investment Management LLC has acquired 411,432 shares of Clean Harbors, valued at approximately $95.1 million, constituting about 0.77% ownership as of their latest SEC filing.
• Clean Harbors recently reported an EPS of $2.36 for the last quarter, exceeding analyst estimates, although revenue slightly fell year-over-year.
• Analyst ratings for Clean Harbors include a range of investment positions with an average target price of $262.91, indicating a consensus of "Moderate Buy".

William Blair Investment Management LLC purchased a new position in Clean Harbors, Inc. (NYSE:CLH - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 411,432 shares of the business services provider's stock, valued at approximately $95,115,000. William Blair Investment Management LLC owned approximately 0.77% of Clean Harbors as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its stake in shares of Clean Harbors by 0.3% during the second quarter. Public Employees Retirement System of Ohio now owns 15,726 shares of the business services provider's stock worth $3,636,000 after purchasing an additional 48 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Clean Harbors by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 10,372 shares of the business services provider's stock worth $2,044,000 after buying an additional 52 shares during the last quarter. Blue Trust Inc. increased its stake in Clean Harbors by 25.8% during the 1st quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock worth $54,000 after buying an additional 56 shares in the last quarter. Xponance Inc. raised its holdings in shares of Clean Harbors by 0.9% during the first quarter. Xponance Inc. now owns 6,703 shares of the business services provider's stock valued at $1,321,000 after acquiring an additional 61 shares during the last quarter. Finally, Atticus Wealth Management LLC lifted its position in shares of Clean Harbors by 13.9% in the second quarter. Atticus Wealth Management LLC now owns 532 shares of the business services provider's stock valued at $123,000 after acquiring an additional 65 shares in the last quarter. 90.43% of the stock is owned by hedge funds and other institutional investors.

Clean Harbors Price Performance

Shares of CLH stock opened at $236.58 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.45 and a quick ratio of 2.07. The company has a market capitalization of $12.69 billion, a PE ratio of 33.23 and a beta of 1.18. The firm's 50-day moving average is $237.84 and its two-hundred day moving average is $228.05. Clean Harbors, Inc. has a 12 month low of $178.29 and a 12 month high of $267.11.

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, beating analysts' consensus estimates of $2.33 by $0.03. The firm had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.59 billion. Clean Harbors had a return on equity of 14.82% and a net margin of 6.48%.The firm's quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.46 earnings per share. Analysts predict that Clean Harbors, Inc. will post 7.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CLH has been the subject of several research reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Clean Harbors in a research report on Wednesday, October 8th. Oppenheimer upped their target price on shares of Clean Harbors from $254.00 to $256.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. UBS Group raised their price target on shares of Clean Harbors from $240.00 to $245.00 and gave the stock a "neutral" rating in a research note on Thursday. Raymond James Financial restated a "strong-buy" rating and set a $280.00 price target on shares of Clean Harbors in a research report on Monday, October 6th. Finally, Barclays began coverage on shares of Clean Harbors in a research note on Friday, September 19th. They issued an "equal weight" rating and a $253.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $262.91.

Insiders Place Their Bets

In other news, Director Andrea Robertson sold 836 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $233.64, for a total transaction of $195,323.04. Following the completion of the transaction, the director directly owned 9,888 shares in the company, valued at approximately $2,310,232.32. This represents a 7.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Louis Battles acquired 2,000 shares of Clean Harbors stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of $233.50 per share, for a total transaction of $467,000.00. Following the completion of the acquisition, the chief executive officer owned 82,911 shares in the company, valued at $19,359,718.50. This trade represents a 2.47% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 5.60% of the company's stock.

Clean Harbors 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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