Man Group plc acquired a new stake in Clean Harbors, Inc. (NYSE:CLH – Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 18,764 shares of the business services provider’s stock, valued at approximately $5,606,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Integrated Wealth Concepts LLC raised its holdings in shares of Clean Harbors by 102.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,187 shares of the business services provider’s stock valued at $431,000 after acquiring an additional 1,109 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Clean Harbors by 47.7% during the first quarter. Jones Financial Companies Lllp now owns 607 shares of the business services provider’s stock worth $120,000 after purchasing an additional 196 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Clean Harbors by 12.1% in the first quarter. Goldman Sachs Group Inc. now owns 54,577 shares of the business services provider’s stock worth $10,757,000 after purchasing an additional 5,884 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Clean Harbors by 65.1% in the second quarter. Russell Investments Group Ltd. now owns 4,837 shares of the business services provider’s stock worth $1,118,000 after purchasing an additional 1,908 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in Clean Harbors by 1.4% in the second quarter. Baird Financial Group Inc. now owns 4,418 shares of the business services provider’s stock valued at $1,021,000 after purchasing an additional 60 shares in the last quarter. 90.43% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. TD Cowen upped their price objective on Clean Harbors from $335.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Wall Street Zen raised Clean Harbors from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Oppenheimer restated an “outperform” rating and issued a $350.00 target price on shares of Clean Harbors in a research report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Clean Harbors in a research note on Wednesday, July 29th. Finally, Barclays increased their price target on shares of Clean Harbors from $305.00 to $325.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $354.57.
Clean Harbors Stock Performance
Shares of CLH opened at $310.56 on Friday. The company has a market cap of $16.39 billion, a price-to-earnings ratio of 37.69, a P/E/G ratio of 2.01 and a beta of 0.86. The business’s fifty day simple moving average is $307.51 and its two-hundred day simple moving average is $296.28. Clean Harbors, Inc. has a 12 month low of $201.34 and a 12 month high of $335.94. The company has a current ratio of 2.13, a quick ratio of 1.80 and a debt-to-equity ratio of 0.94.
Clean Harbors (NYSE:CLH – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.41. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%.The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the business earned $2.36 earnings per share. Clean Harbors’s revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts anticipate that Clean Harbors, Inc. will post 9.72 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Clean Harbors news, Director Andrea Robertson sold 789 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $314.01, for a total transaction of $247,753.89. Following the completion of the transaction, the director owned 8,979 shares of the company’s stock, valued at $2,819,495.79. This represents a 8.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric W. Gerstenberg sold 2,500 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $321.34, for a total value of $803,350.00. Following the transaction, the chief executive officer owned 56,793 shares of the company’s stock, valued at $18,249,862.62. This represents a 4.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.00% of the company’s stock.
Clean Harbors 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.
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