Voloridge Investment Management LLC Acquires New Position in Clean Harbors, Inc. (NYSE:CLH)

Voloridge Investment Management LLC acquired a new stake in Clean Harbors, Inc. (NYSE:CLH) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,360 shares of the business services provider’s stock, valued at approximately $543,000.

Other institutional investors have also bought and sold shares of the company. Kapitalo Investimentos Ltda purchased a new stake in shares of Clean Harbors in the fourth quarter valued at approximately $32,000. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Clean Harbors by 2,650.0% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 165 shares of the business services provider’s stock worth $38,000 after acquiring an additional 159 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Clean Harbors by 130.4% during the 4th quarter. Allworth Financial LP now owns 182 shares of the business services provider’s stock worth $44,000 after acquiring an additional 103 shares during the period. Assetmark Inc. increased its position in Clean Harbors by 10,250.0% during the fourth quarter. Assetmark Inc. now owns 207 shares of the business services provider’s stock worth $48,000 after purchasing an additional 205 shares during the last quarter. Finally, Physician Wealth Advisors Inc. purchased a new position in Clean Harbors during the fourth quarter worth about $56,000. 90.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Lauren States sold 836 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $226.17, for a total transaction of $189,078.12. Following the sale, the director now directly owns 11,871 shares in the company, valued at approximately $2,684,864.07. This represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eric J. Dugas acquired 1,050 shares of the company’s stock in a transaction on Monday, March 10th. The stock was purchased at an average cost of $191.38 per share, for a total transaction of $200,949.00. Following the completion of the transaction, the chief financial officer now owns 24,238 shares in the company, valued at approximately $4,638,668.44. The trade was a 4.53% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 5,833 shares of company stock worth $1,227,181. Corporate insiders own 5.60% of the company’s stock.

Clean Harbors Stock Down 0.6%

Shares of CLH opened at $225.45 on Friday. The company’s 50-day simple moving average is $212.19 and its 200-day simple moving average is $224.25. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.76 and a current ratio of 2.21. Clean Harbors, Inc. has a 1 year low of $178.29 and a 1 year high of $267.11. The stock has a market capitalization of $12.08 billion, a PE ratio of 30.38 and a beta of 1.19.

Clean Harbors (NYSE:CLH) last announced its earnings results on Wednesday, April 30th. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.07. Clean Harbors had a net margin of 6.83% and a return on equity of 16.33%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the firm earned $1.29 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts forecast that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on CLH shares. Needham & Company LLC dropped their price target on shares of Clean Harbors from $268.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. BMO Capital Markets decreased their price target on Clean Harbors from $284.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Stifel Nicolaus cut their price objective on Clean Harbors from $290.00 to $285.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. UBS Group reduced their price objective on shares of Clean Harbors from $240.00 to $205.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Robert W. Baird increased their target price on shares of Clean Harbors from $250.00 to $255.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Clean Harbors presently has a consensus rating of “Moderate Buy” and an average price target of $257.67.

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.