Engineers Gate Manager LP Acquires 29,730 Shares of Clean Harbors, Inc. $CLH

Engineers Gate Manager LP boosted its stake in shares of Clean Harbors, Inc. (NYSE:CLH) by 495.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 35,732 shares of the business services provider’s stock after buying an additional 29,730 shares during the period. Engineers Gate Manager LP’s holdings in Clean Harbors were worth $10,675,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CLH. Elyxium Wealth LLC bought a new stake in shares of Clean Harbors during the fourth quarter worth $26,000. Quattro Advisors LLC bought a new stake in Clean Harbors in the 4th quarter valued at $26,000. MidFirst Bank acquired a new position in Clean Harbors in the 4th quarter worth $28,000. Parkside Financial Bank & Trust boosted its position in shares of Clean Harbors by 205.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 119 shares of the business services provider’s stock worth $28,000 after buying an additional 80 shares during the period. Finally, Larson Financial Group LLC boosted its position in Clean Harbors by 676.5% during the 4th quarter. Larson Financial Group LLC now owns 132 shares of the business services provider’s stock worth $31,000 after acquiring an additional 115 shares during the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.

Clean Harbors Stock Performance

Shares of CLH stock opened at $320.67 on Friday. Clean Harbors, Inc. has a 52 week low of $201.34 and a 52 week high of $335.94. The company has a market capitalization of $16.93 billion, a price-to-earnings ratio of 38.92, a PEG ratio of 2.04 and a beta of 0.85. The company has a 50-day simple moving average of $311.36 and a 200 day simple moving average of $299.17. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.80 and a current ratio of 2.13.

Clean Harbors (NYSE:CLH) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.41. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Clean Harbors had a net margin of 7.03% and a return on equity of 15.65%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.36 EPS. On average, sell-side analysts predict that Clean Harbors, Inc. will post 9.72 earnings per share for the current year.

Insider Activity at Clean Harbors

In other news, CEO Eric Gerstenberg sold 2,500 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $321.34, for a total transaction of $803,350.00. Following the transaction, the chief executive officer owned 56,793 shares in the company, valued at approximately $18,249,862.62. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrea Robertson sold 789 shares of Clean Harbors stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $314.01, for a total value of $247,753.89. Following the sale, the director directly owned 8,979 shares of the company’s stock, valued at approximately $2,819,495.79. The trade was a 8.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CLH has been the subject of several analyst reports. Weiss Ratings upgraded Clean Harbors from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 30th. Needham & Company LLC boosted their price target on Clean Harbors from $325.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Truist Financial upped their price objective on Clean Harbors from $350.00 to $365.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Wall Street Zen raised Clean Harbors from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Barclays lifted their target price on Clean Harbors from $305.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $354.57.

Clean Harbors Profile

Clean Harbors, Inc provides environmental, energy and industrial services throughout the United States and Canada. The company manages hazardous and non-hazardous waste through services that include collection, transportation, treatment, disposal, recycling and incineration. It also provides emergency spill response, wastewater treatment and specialized environmental remediation.

Through its industrial services operations, Clean Harbors supports refineries, chemical plants, utilities, manufacturers and other industrial customers with maintenance, cleaning, turnaround and specialty services.