Okabena Investment Services Inc. Acquires New Position in Clean Harbors, Inc. $CLH

Okabena Investment Services Inc. bought a new position in Clean Harbors, Inc. (NYSE:CLH) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,240 shares of the business services provider’s stock, valued at approximately $1,449,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Clean Harbors in the 3rd quarter worth approximately $587,000. Choreo LLC raised its position in Clean Harbors by 46.6% in the 3rd quarter. Choreo LLC now owns 1,819 shares of the business services provider’s stock worth $422,000 after purchasing an additional 578 shares during the period. Advisor OS LLC bought a new stake in Clean Harbors in the third quarter worth $353,000. Westfield Capital Management Co. LP lifted its stake in Clean Harbors by 26.7% in the third quarter. Westfield Capital Management Co. LP now owns 243,582 shares of the business services provider’s stock worth $56,565,000 after purchasing an additional 51,323 shares during the last quarter. Finally, US Bancorp DE boosted its position in Clean Harbors by 16.9% during the third quarter. US Bancorp DE now owns 374 shares of the business services provider’s stock valued at $87,000 after buying an additional 54 shares during the period. 90.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Eric W. Gerstenberg sold 601 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $240.90, for a total transaction of $144,780.90. Following the completion of the sale, the chief executive officer owned 50,454 shares of the company’s stock, valued at $12,154,368.60. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John R. Welch sold 750 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $273.07, for a total value of $204,802.50. Following the completion of the transaction, the director owned 10,237 shares of the company’s stock, valued at $2,795,417.59. This represents a 6.83% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 7,679 shares of company stock worth $2,132,403. 5.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on Clean Harbors from $228.00 to $253.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. TD Cowen reaffirmed a “buy” rating on shares of Clean Harbors in a research note on Thursday, February 19th. Citigroup increased their price objective on Clean Harbors from $274.00 to $302.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $320.00 target price on shares of Clean Harbors in a research note on Monday, February 23rd. Finally, Zacks Research upgraded shares of Clean Harbors from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Clean Harbors currently has an average rating of “Moderate Buy” and a consensus target price of $292.18.

Clean Harbors Price Performance

CLH opened at $293.67 on Friday. Clean Harbors, Inc. has a 12-month low of $178.29 and a 12-month high of $294.94. The company has a market cap of $15.54 billion, a price-to-earnings ratio of 40.34 and a beta of 0.96. The stock has a fifty day simple moving average of $260.22 and a two-hundred day simple moving average of $241.80. The company has a current ratio of 2.33, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings data on Wednesday, February 18th. The business services provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.03. Clean Harbors had a net margin of 6.48% and a return on equity of 14.47%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the company earned $1.55 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. Research analysts predict that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Clean Harbors Company Profile

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.