Insider Buying: Clean Harbors (NYSE:CLH) Director Buys 125 Shares of Company Stock

Key Points

• Director Karyn Polito purchased 125 Clean Harbors shares at an average price of $314.83, investing $39,353.75 and increasing her direct ownership by 3.03% to 4,252 shares.
• Clean Harbors reported strong quarterly results, with EPS of $3.93 versus the $3.26 consensus and revenue of $1.87 billion, up 20.7% year over year.
• Analysts maintain a positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $365.21, above its reported trading price of $299.12.

Clean Harbors, Inc. (NYSE:CLH - Get Free Report) Director Karyn Polito purchased 125 shares of the firm's stock in a transaction dated Thursday, October 29th. The stock was acquired at an average price of $314.83 per share, with a total value of $39,353.75. Following the purchase, the director directly owned 4,252 shares of the company's stock, valued at approximately $1,338,657.16. The trade was a 3.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Clean Harbors Stock Performance

Shares of Clean Harbors stock traded down $3.00 during trading hours on Monday, reaching $299.12. 13,101 shares of the stock traded hands, compared to its average volume of 489,628. The company has a 50 day moving average price of $315.93 and a 200 day moving average price of $297.71. The company has a quick ratio of 1.63, a current ratio of 1.95 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $15.77 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 1.71 and a beta of 0.87. Clean Harbors, Inc. has a one year low of $201.34 and a one year high of $335.94.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The business services provider reported $3.93 earnings per share for the quarter, beating analysts' consensus estimates of $3.26 by $0.67. The firm had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.73 billion. Clean Harbors had a return on equity of 18.27% and a net margin of 8.05%. The business's quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 EPS. On average, equities research analysts expect that Clean Harbors, Inc. will post 10.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clean Harbors

A number of hedge funds and other institutional investors have recently modified their holdings of CLH. BlackRock Inc. purchased a new position in Clean Harbors in the second quarter valued at about $1,516,521,000. Jupiter Topco LLC bought a new position in shares of Clean Harbors during the second quarter valued at approximately $477,570,000. Bessemer Group Inc. grew its position in Clean Harbors by 1.8% in the 1st quarter. Bessemer Group Inc. now owns 932,027 shares of the business services provider's stock worth $267,239,000 after purchasing an additional 16,747 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Clean Harbors by 10.0% during the first quarter. First Trust Advisors LP now owns 778,441 shares of the business services provider's stock valued at $223,202,000 after purchasing an additional 70,447 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Clean Harbors in the second quarter valued at $142,801,000. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Truist Financial set a $365.00 price objective on shares of Clean Harbors in a research note on Thursday. TD Cowen increased their price objective on Clean Harbors from $390.00 to $395.00 and gave the company a "buy" rating in a research note on Thursday. Bank of America set a $377.00 price target on shares of Clean Harbors and gave the company a "buy" rating in a research report on Thursday, July 30th. Weiss Ratings upgraded Clean Harbors from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday. Finally, Oppenheimer lifted their target price on Clean Harbors from $361.00 to $362.00 and gave the company an "outperform" rating in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Clean Harbors currently has a consensus rating of "Moderate Buy" and a consensus target price of $365.21.

About Clean Harbors

Clean Harbors, Inc provides environmental, energy and industrial services to customers across North America. The company serves a broad range of industries, including manufacturing, government, utilities, energy and transportation, helping customers manage hazardous and non-hazardous materials, maintain industrial facilities and respond to environmental emergencies.

Its services include hazardous waste collection, transportation, treatment and disposal; incineration; recycling and waste-to-fuel programs; wastewater treatment; and used-oil collection and re-refining.

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