Freestone Grove Partners LP Invests $8.98 Million in Clean Harbors, Inc. (NYSE:CLH)

Freestone Grove Partners LP bought a new stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 39,013 shares of the business services provider's stock, valued at approximately $8,978,000. Freestone Grove Partners LP owned approximately 0.07% of Clean Harbors at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Reliant Investment Management LLC bought a new stake in shares of Clean Harbors during the 4th quarter worth $4,386,000. Fiduciary Alliance LLC bought a new position in shares of Clean Harbors during the 4th quarter valued at about $846,000. Mountain Pacific Investment Advisers LLC raised its holdings in shares of Clean Harbors by 4.5% during the 4th quarter. Mountain Pacific Investment Advisers LLC now owns 99,039 shares of the business services provider's stock valued at $22,793,000 after buying an additional 4,240 shares in the last quarter. Barclays PLC boosted its stake in Clean Harbors by 44.5% in the third quarter. Barclays PLC now owns 28,056 shares of the business services provider's stock worth $6,781,000 after buying an additional 8,639 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in Clean Harbors by 17.8% during the fourth quarter. Versant Capital Management Inc now owns 384 shares of the business services provider's stock valued at $88,000 after acquiring an additional 58 shares during the last quarter. 90.43% of the stock is currently owned by institutional investors.

Clean Harbors Trading Up 0.3 %

Shares of CLH traded up $0.70 during mid-day trading on Monday, hitting $222.81. 265,707 shares of the company's stock traded hands, compared to its average volume of 348,122. The company has a quick ratio of 1.76, a current ratio of 2.21 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $11.94 billion, a P/E ratio of 30.03 and a beta of 1.19. The business's 50-day moving average price is $201.32 and its 200-day moving average price is $227.07. Clean Harbors, Inc. has a 1 year low of $178.29 and a 1 year high of $267.11.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.07. Clean Harbors had a net margin of 6.83% and a return on equity of 16.33%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the firm earned $1.29 EPS. The company's quarterly revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Clean Harbors, Inc. will post 7.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CLH shares. UBS Group cut their price objective on shares of Clean Harbors from $240.00 to $205.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Stifel Nicolaus reduced their price objective on Clean Harbors from $290.00 to $285.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. The Goldman Sachs Group lowered their target price on Clean Harbors from $250.00 to $220.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Truist Financial decreased their price target on Clean Harbors from $270.00 to $250.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Oppenheimer dropped their price objective on Clean Harbors from $256.00 to $254.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Clean Harbors presently has a consensus rating of "Moderate Buy" and an average target price of $257.67.

Insider Buying and Selling

In other news, CFO Eric J. Dugas bought 1,050 shares of Clean Harbors stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $191.38 per share, for a total transaction of $200,949.00. Following the acquisition, the chief financial officer now owns 24,238 shares of the company's stock, valued at approximately $4,638,668.44. The trade was a 4.53 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert Speights sold 2,725 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $190.44, for a total value of $518,949.00. Following the completion of the transaction, the insider now owns 40,008 shares of the company's stock, valued at approximately $7,619,123.52. The trade was a 6.38 % decrease in their position. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

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.