First Trust Advisors LP Raises Holdings in Clean Harbors, Inc. (NYSE:CLH)

First Trust Advisors LP boosted its stake in Clean Harbors, Inc. (NYSE:CLH) by 46.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 369,941 shares of the business services provider’s stock after purchasing an additional 117,718 shares during the period. First Trust Advisors LP’s holdings in Clean Harbors were worth $85,138,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Traynor Capital Management Inc. raised its holdings in Clean Harbors by 3.6% during the 4th quarter. Traynor Capital Management Inc. now owns 1,450 shares of the business services provider’s stock valued at $334,000 after buying an additional 50 shares during the last quarter. Williamson Legacy Group LLC raised its stake in shares of Clean Harbors by 1.4% during the fourth quarter. Williamson Legacy Group LLC now owns 3,727 shares of the business services provider’s stock valued at $858,000 after acquiring an additional 53 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Clean Harbors by 10.1% in the 4th quarter. GAMMA Investing LLC now owns 619 shares of the business services provider’s stock worth $142,000 after buying an additional 57 shares during the period. Versant Capital Management Inc lifted its stake in Clean Harbors by 17.8% in the fourth quarter. Versant Capital Management Inc now owns 384 shares of the business services provider’s stock worth $88,000 after acquiring an additional 58 shares during the period. Finally, Scotia Capital Inc. increased its position in shares of Clean Harbors by 0.4% during the fourth quarter. Scotia Capital Inc. now owns 14,262 shares of the business services provider’s stock valued at $3,282,000 after buying an additional 59 shares during the period. Institutional investors own 90.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CLH has been the subject of several analyst reports. The Goldman Sachs Group reduced their price target on Clean Harbors from $250.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Oppenheimer reduced their price target on shares of Clean Harbors from $256.00 to $254.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Truist Financial reduced their price target on Clean Harbors from $280.00 to $270.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. UBS Group decreased their price target on Clean Harbors from $240.00 to $205.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Robert W. Baird cut their price objective on shares of Clean Harbors from $285.00 to $272.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $260.40.

Clean Harbors Price Performance

Clean Harbors stock opened at $204.95 on Tuesday. The company has a current ratio of 2.21, a quick ratio of 1.76 and a debt-to-equity ratio of 1.08. The stock has a market cap of $11.11 billion, a P/E ratio of 27.62 and a beta of 1.11. The company has a 50-day moving average price of $202.73 and a 200 day moving average price of $229.67. Clean Harbors, Inc. has a 12-month low of $178.29 and a 12-month high of $267.11.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings results on Wednesday, February 19th. The business services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.36 by $0.19. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Clean Harbors had a net margin of 6.83% and a return on equity of 16.33%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.82 earnings per share. Sell-side analysts anticipate that Clean Harbors, Inc. will post 7.89 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Eric J. Dugas bought 1,050 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $191.38 per share, with a total value of $200,949.00. Following the purchase, the chief financial officer now owns 24,238 shares of the company’s stock, valued at $4,638,668.44. This trade represents a 4.53 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Speights sold 2,725 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $190.44, for a total value of $518,949.00. Following the transaction, the insider now owns 40,008 shares in the company, valued at $7,619,123.52. This trade represents a 6.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

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.