Meridian Wealth Management LLC Makes New Investment in Clean Harbors, Inc. $CLH

Meridian Wealth Management LLC purchased a new stake in shares of Clean Harbors, Inc. (NYSE:CLH) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 981 shares of the business services provider’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CLH. Wellington Management Group LLP increased its position in shares of Clean Harbors by 30.9% in the first quarter. Wellington Management Group LLP now owns 5,293,796 shares of the business services provider’s stock worth $1,043,407,000 after purchasing an additional 1,249,704 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Clean Harbors by 127.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 899,566 shares of the business services provider’s stock worth $177,304,000 after buying an additional 504,290 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Clean Harbors by 2.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 456,426 shares of the business services provider’s stock valued at $89,962,000 after buying an additional 11,465 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Clean Harbors by 14.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 423,025 shares of the business services provider’s stock worth $97,795,000 after acquiring an additional 53,828 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new stake in shares of Clean Harbors during the 2nd quarter worth $95,115,000. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays lowered their price target on Clean Harbors from $253.00 to $230.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. UBS Group dropped their target price on Clean Harbors from $245.00 to $240.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Zacks Research cut shares of Clean Harbors from a “hold” rating to a “strong sell” rating in a research report on Friday, October 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of Clean Harbors in a research note on Thursday, November 13th. Finally, Raymond James Financial lowered their price objective on shares of Clean Harbors from $277.00 to $270.00 and set a “strong-buy” rating for the company in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $254.58.

Clean Harbors Price Performance

Shares of Clean Harbors stock opened at $208.88 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.44 and a quick ratio of 2.07. Clean Harbors, Inc. has a one year low of $178.29 and a one year high of $263.43. The business’s 50 day simple moving average is $227.31 and its two-hundred day simple moving average is $230.98. The stock has a market capitalization of $11.16 billion, a P/E ratio of 28.97 and a beta of 1.16.

Clean Harbors (NYSE:CLH) last issued its earnings results on Wednesday, October 29th. The business services provider reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.16). Clean Harbors had a return on equity of 14.61% and a net margin of 6.51%.The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the business posted $2.12 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts forecast that Clean Harbors, Inc. will post 7.89 EPS for the current year.

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.