Public Employees Retirement Association of Colorado Decreases Stock Holdings in Clean Harbors, Inc. (NYSE:CLH)

Public Employees Retirement Association of Colorado lowered its stake in Clean Harbors, Inc. (NYSE:CLH) by 4.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,525 shares of the business services provider’s stock after selling 240 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Clean Harbors were worth $1,249,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CLH. Lazard Freres Gestion S.A.S. purchased a new position in shares of Clean Harbors in the 2nd quarter worth $42,968,000. Wellington Management Group LLP lifted its holdings in Clean Harbors by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 3,654,929 shares of the business services provider’s stock valued at $637,822,000 after acquiring an additional 182,622 shares during the period. DAVENPORT & Co LLC boosted its position in Clean Harbors by 93.1% in the first quarter. DAVENPORT & Co LLC now owns 264,416 shares of the business services provider’s stock worth $53,124,000 after purchasing an additional 127,498 shares during the last quarter. Spirepoint Private Client LLC bought a new stake in shares of Clean Harbors during the 1st quarter valued at about $16,594,000. Finally, Janus Henderson Group PLC increased its position in shares of Clean Harbors by 5.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,586,461 shares of the business services provider’s stock valued at $319,371,000 after purchasing an additional 78,848 shares during the last quarter. Institutional investors own 90.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CLH. Truist Financial boosted their target price on shares of Clean Harbors from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Stifel Nicolaus reissued a “buy” rating and set a $275.00 price objective (up previously from $240.00) on shares of Clean Harbors in a research report on Thursday, August 1st. Oppenheimer raised their target price on Clean Harbors from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Robert W. Baird boosted their price target on Clean Harbors from $242.00 to $268.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group raised their price objective on Clean Harbors from $223.00 to $256.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Clean Harbors presently has a consensus rating of “Buy” and an average target price of $242.40.

Clean Harbors Price Performance

Shares of Clean Harbors stock opened at $248.30 on Wednesday. The company has a market capitalization of $13.39 billion, a price-to-earnings ratio of 35.93 and a beta of 1.20. The company has a quick ratio of 1.76, a current ratio of 2.10 and a debt-to-equity ratio of 1.14. The stock’s 50-day simple moving average is $237.03 and its 200-day simple moving average is $219.05. Clean Harbors, Inc. has a 52 week low of $132.92 and a 52 week high of $251.65.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.25. Clean Harbors had a return on equity of 17.12% and a net margin of 6.97%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the firm earned $2.13 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. As a group, analysts expect that Clean Harbors, Inc. will post 7.65 earnings per share for the current fiscal year.

Insider Activity at Clean Harbors

In other news, CEO Michael Louis Battles sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $245.74, for a total transaction of $2,457,400.00. Following the sale, the chief executive officer now directly owns 77,136 shares of the company’s stock, valued at approximately $18,955,400.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Clean Harbors news, Director Lauren States sold 309 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $244.09, for a total transaction of $75,423.81. Following the sale, the director now directly owns 13,458 shares of the company’s stock, valued at $3,284,963.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Louis Battles sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $245.74, for a total value of $2,457,400.00. Following the sale, the chief executive officer now owns 77,136 shares in the company, valued at $18,955,400.64. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

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.