Meridian Wealth Management LLC Acquires Shares of 981 Clean Harbors, Inc. $CLH

Meridian Wealth Management LLC bought a new stake in shares of Clean Harbors, Inc. (NYSE:CLH) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 981 shares of the business services provider’s stock, valued at approximately $227,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Clean Harbors by 30.9% during the first quarter. Wellington Management Group LLP now owns 5,293,796 shares of the business services provider’s stock valued at $1,043,407,000 after buying an additional 1,249,704 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Clean Harbors by 127.6% during 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 valued at $177,304,000 after acquiring an additional 504,290 shares during the period. William Blair Investment Management LLC bought a new position in shares of Clean Harbors during the 2nd quarter valued at approximately $95,115,000. Millennium Management LLC increased its stake in shares of Clean Harbors by 36,389.2% during the 1st quarter. Millennium Management LLC now owns 362,892 shares of the business services provider’s stock worth $71,526,000 after purchasing an additional 363,892 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Clean Harbors in the 2nd quarter worth approximately $59,085,000. 90.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Raymond James Financial reduced their price objective on Clean Harbors from $277.00 to $270.00 and set a “strong-buy” rating for the company in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Clean Harbors in a research report on Thursday, November 13th. BMO Capital Markets set a $268.00 price objective on Clean Harbors and gave the stock an “outperform” rating in a report on Thursday, July 31st. Barclays dropped their price objective on shares of Clean Harbors from $253.00 to $230.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Finally, Zacks Research downgraded shares of Clean Harbors from a “hold” rating to a “strong sell” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Clean Harbors has a consensus rating of “Moderate Buy” and an average target price of $254.58.

Clean Harbors Stock Up 3.5%

Shares of NYSE CLH opened at $208.88 on Wednesday. The company has a quick ratio of 2.07, a current ratio of 2.44 and a debt-to-equity ratio of 1.00. The company has a market cap of $11.16 billion, a P/E ratio of 28.97 and a beta of 1.16. Clean Harbors, Inc. has a 52 week low of $178.29 and a 52 week high of $263.43. The business has a 50-day simple moving average of $227.31 and a two-hundred day simple moving average of $230.98.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.58 billion. During the same period in the previous year, the company posted $2.12 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. Research analysts anticipate that Clean Harbors, Inc. will post 7.89 earnings per share 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.