Clean Harbors, Inc. (NYSE:CLH) Short Interest Up 29.3% in October

Clean Harbors, Inc. (NYSE:CLH) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 522,600 shares, a growth of 29.3% from the October 15th total of 404,300 shares. Based on an average daily trading volume, of 256,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.0% of the shares of the company are sold short.

Insider Buying and Selling

In related news, CEO Michael Louis Battles sold 10,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $245.74, for a total value of $2,457,400.00. Following the transaction, the chief executive officer now directly owns 77,136 shares of the company’s stock, valued at approximately $18,955,400.64. The trade was a 11.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Speights sold 610 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $240.14, for a total transaction of $146,485.40. Following the completion of the transaction, the insider now directly owns 39,160 shares in the company, valued at $9,403,882.40. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,227 shares of company stock valued at $2,759,617. 5.90% of the stock is owned by insiders.

Institutional Trading of Clean Harbors

Several hedge funds and other institutional investors have recently bought and sold shares of CLH. Clearbridge Investments LLC boosted its stake in Clean Harbors by 30.6% in the second quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock worth $239,361,000 after buying an additional 248,240 shares in the last quarter. Lazard Freres Gestion S.A.S. purchased a new stake in Clean Harbors in the second quarter worth approximately $42,968,000. FMR LLC boosted its stake in Clean Harbors by 12.0% in the third quarter. FMR LLC now owns 1,747,215 shares of the business services provider’s stock worth $422,319,000 after buying an additional 187,140 shares in the last quarter. Wellington Management Group LLP boosted its stake in Clean Harbors by 3.0% in the third quarter. Wellington Management Group LLP now owns 3,451,751 shares of the business services provider’s stock worth $834,323,000 after buying an additional 100,394 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Clean Harbors by 20.3% in the second quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock worth $121,505,000 after buying an additional 90,756 shares in the last quarter. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CLH shares. Robert W. Baird lowered their price objective on Clean Harbors from $300.00 to $285.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC lowered their price objective on Clean Harbors from $274.00 to $268.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. StockNews.com cut Clean Harbors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st. Truist Financial upped their price target on Clean Harbors from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $275.00 price target (up from $240.00) on shares of Clean Harbors in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $254.33.

Clean Harbors Stock Down 1.3 %

CLH stock opened at $247.39 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.10. The company’s 50 day moving average is $249.02 and its 200 day moving average is $233.70. The stock has a market cap of $13.33 billion, a price-to-earnings ratio of 32.21 and a beta of 1.20. Clean Harbors has a 1-year low of $158.42 and a 1-year high of $267.11.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.03). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $1.68 earnings per share. Sell-side analysts predict that Clean Harbors will post 7.29 EPS for the current fiscal year.

Clean Harbors Company 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.