Oppenheimer Asset Management Inc. Boosts Holdings in Clean Harbors, Inc. $CLH

Oppenheimer Asset Management Inc. lifted its stake in Clean Harbors, Inc. (NYSE:CLH) by 12.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,850 shares of the business services provider’s stock after buying an additional 6,613 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Clean Harbors were worth $13,374,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CLH. Catalyst Capital Advisors LLC purchased a new position in Clean Harbors during the 2nd quarter worth $105,000. Lazard Freres Gestion S.A.S. grew its position in Clean Harbors by 10.2% during the 2nd quarter. Lazard Freres Gestion S.A.S. now owns 3,240 shares of the business services provider’s stock worth $749,000 after purchasing an additional 300 shares during the last quarter. R Squared Ltd grew its position in Clean Harbors by 24.9% during the 2nd quarter. R Squared Ltd now owns 1,311 shares of the business services provider’s stock worth $303,000 after purchasing an additional 261 shares during the last quarter. Ethic Inc. grew its position in Clean Harbors by 17.5% during the 2nd quarter. Ethic Inc. now owns 3,272 shares of the business services provider’s stock worth $756,000 after purchasing an additional 487 shares during the last quarter. Finally, Stephens Inc. AR grew its position in Clean Harbors by 3.6% during the 2nd quarter. Stephens Inc. AR now owns 3,547 shares of the business services provider’s stock worth $820,000 after purchasing an additional 122 shares during the last quarter. 90.43% of the stock is owned by hedge funds and other institutional investors.

Clean Harbors Stock Up 0.8%

Shares of NYSE:CLH opened at $245.50 on Monday. The company has a market cap of $13.17 billion, a price-to-earnings ratio of 34.48 and a beta of 1.18. The firm’s 50-day simple moving average is $237.54 and its 200-day simple moving average is $230.31. The company has a quick ratio of 2.07, a current ratio of 2.45 and a debt-to-equity ratio of 1.02. Clean Harbors, Inc. has a fifty-two week low of $178.29 and a fifty-two week high of $267.11.

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

Insider Activity

In related news, CEO Michael Louis Battles acquired 2,000 shares of Clean Harbors stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $233.50 per share, for a total transaction of $467,000.00. Following the completion of the purchase, the chief executive officer directly owned 82,911 shares of the company’s stock, valued at approximately $19,359,718.50. This trade represents a 2.47% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrea Robertson sold 836 shares of the firm’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $233.64, for a total transaction of $195,323.04. Following the completion of the sale, the director owned 9,888 shares of the company’s stock, valued at $2,310,232.32. This trade represents a 7.80% decrease in their position. The disclosure for this sale can be found here. 5.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on CLH. Weiss Ratings reissued a “buy (b-)” rating on shares of Clean Harbors in a research report on Friday. Raymond James Financial reissued a “strong-buy” rating and set a $280.00 price objective on shares of Clean Harbors in a research report on Monday, October 6th. BMO Capital Markets set a $268.00 price objective on shares of Clean Harbors and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Oppenheimer lifted their target price on shares of Clean Harbors from $254.00 to $256.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, Barclays initiated coverage on shares of Clean Harbors in a report on Friday, September 19th. They issued an “equal weight” rating and a $253.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Clean Harbors has an average rating of “Moderate Buy” and a consensus target price of $262.91.

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.