State Street Corp Increases Stake in Clean Harbors, Inc. (CLH)
State Street Corp raised its position in Clean Harbors, Inc. (NYSE:CLH) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,352,821 shares of the business services provider’s stock after buying an additional 28,999 shares during the period. State Street Corp’s holdings in Clean Harbors were worth $75,241,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in CLH. BlackRock Inc. raised its stake in Clean Harbors by 11,874.0% in the first quarter. BlackRock Inc. now owns 4,345,138 shares of the business services provider’s stock valued at $241,676,000 after buying an additional 4,308,850 shares during the period. Wellington Management Group LLP raised its stake in Clean Harbors by 18.3% in the first quarter. Wellington Management Group LLP now owns 7,263,071 shares of the business services provider’s stock valued at $403,972,000 after buying an additional 1,122,646 shares during the period. Norges Bank purchased a new stake in Clean Harbors during the fourth quarter valued at $35,686,000. Orbis Allan Gray Ltd raised its stake in Clean Harbors by 56.4% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,615,239 shares of the business services provider’s stock valued at $89,888,000 after buying an additional 582,753 shares during the period. Finally, TimesSquare Capital Management LLC raised its stake in Clean Harbors by 87.0% in the first quarter. TimesSquare Capital Management LLC now owns 1,103,400 shares of the business services provider’s stock valued at $61,371,000 after buying an additional 513,500 shares during the period. 95.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Clean Harbors, Inc. (NYSE:CLH) opened at 55.67 on Tuesday. The stock has a 50 day moving average price of $57.34 and a 200 day moving average price of $56.45. Clean Harbors, Inc. has a 12 month low of $43.03 and a 12 month high of $61.62. The stock’s market capitalization is $3.18 billion.
Clean Harbors (NYSE:CLH) last issued its earnings results on Wednesday, May 3rd. The business services provider reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by $0.01. The company had revenue of $688.90 million during the quarter, compared to analyst estimates of $662.27 million. Clean Harbors had a positive return on equity of 0.31% and a negative net margin of 1.44%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. On average, analysts anticipate that Clean Harbors, Inc. will post $0.70 EPS for the current fiscal year.
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CLH has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $66.00 target price on shares of Clean Harbors in a report on Thursday, July 13th. Zacks Investment Research raised Clean Harbors from a “strong sell” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, May 2nd. ValuEngine raised Clean Harbors from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BMO Capital Markets initiated coverage on Clean Harbors in a report on Thursday, June 29th. They issued an “outperform” rating and a $65.00 target price on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $63.00 target price on shares of Clean Harbors in a report on Tuesday, April 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Clean Harbors has a consensus rating of “Hold” and a consensus target price of $60.75.
In related news, EVP Brian P. Weber sold 1,945 shares of Clean Harbors stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $54.06, for a total value of $105,146.70. Following the transaction, the executive vice president now directly owns 51,656 shares in the company, valued at approximately $2,792,523.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael J. Twohig sold 4,071 shares of Clean Harbors stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $59.25, for a total value of $241,206.75. Following the completion of the transaction, the executive vice president now owns 30,854 shares in the company, valued at $1,828,099.50. The disclosure for this sale can be found here. Insiders sold a total of 11,452 shares of company stock worth $668,576 over the last 90 days. Insiders own 9.50% of the company’s stock.
About Clean Harbors
Clean Harbors, Inc is a provider of environmental, energy and industrial services throughout North America. The Company is also a re-refiner and recycler of used oil in the world and a provider of parts cleaning and related environmental services to commercial, industrial and automotive customers in North America.
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