Twin Tree Management LP Raises Holdings in Clean Harbors, Inc. $CLH

Twin Tree Management LP lifted its stake in Clean Harbors, Inc. (NYSE:CLH) by 2,780.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,103 shares of the business services provider’s stock after buying an additional 2,030 shares during the quarter. Twin Tree Management LP’s holdings in Clean Harbors were worth $415,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Hopwood Financial Services Inc. purchased a new stake in shares of Clean Harbors in the first quarter worth about $30,000. Banque Cantonale Vaudoise acquired a new position in Clean Harbors in the 1st quarter worth about $48,000. Carolinas Wealth Consulting LLC raised its holdings in Clean Harbors by 2,800.0% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 261 shares of the business services provider’s stock worth $60,000 after purchasing an additional 252 shares during the period. Blue Trust Inc. raised its holdings in Clean Harbors by 25.8% in the 1st quarter. Blue Trust Inc. now owns 273 shares of the business services provider’s stock worth $54,000 after purchasing an additional 56 shares during the period. Finally, Horizon Investments LLC raised its holdings in Clean Harbors by 42.0% in the 1st quarter. Horizon Investments LLC now owns 284 shares of the business services provider’s stock worth $56,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Insider Transactions at Clean Harbors

In related news, CEO Eric W. Gerstenberg sold 8,076 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $225.23, for a total value of $1,818,957.48. Following the completion of the sale, the chief executive officer owned 51,619 shares of the company’s stock, valued at approximately $11,626,147.37. This trade represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Louis Battles purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average cost of $233.50 per share, with a total value of $467,000.00. Following the acquisition, the chief executive officer owned 82,911 shares of the company’s stock, valued at approximately $19,359,718.50. The trade was a 2.47% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 12,840 shares of company stock valued at $2,903,497. 5.60% of the stock is currently owned by company insiders.

Clean Harbors Price Performance

Shares of Clean Harbors stock opened at $242.23 on Tuesday. The business has a 50 day simple moving average of $236.52 and a two-hundred day simple moving average of $220.94. Clean Harbors, Inc. has a 12 month low of $178.29 and a 12 month high of $267.11. The stock has a market capitalization of $12.99 billion, a P/E ratio of 34.02 and a beta of 1.22. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.45 and a quick ratio of 2.07.

Clean Harbors (NYSE:CLH) last announced its earnings results on Wednesday, July 30th. The business services provider reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.03. Clean Harbors had a return on equity of 14.82% and a net margin of 6.48%.The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. As a group, analysts predict that Clean Harbors, Inc. will post 7.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CLH. BMO Capital Markets set a $268.00 price target on Clean Harbors and gave the stock an “outperform” rating in a report on Thursday, July 31st. UBS Group upped their price target on Clean Harbors from $220.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Oppenheimer upped their price target on Clean Harbors from $254.00 to $256.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, Raymond James Financial upped their price target on Clean Harbors from $278.00 to $280.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Clean Harbors presently has an average rating of “Moderate Buy” and an average target price of $263.40.

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.