Bank of Montreal Can Has $9.69 Million Stock Holdings in Clean Harbors, Inc. (NYSE:CLH)

Bank of Montreal Can raised its stake in Clean Harbors, Inc. (NYSE:CLH) by 11.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,629 shares of the business services provider’s stock after buying an additional 4,060 shares during the period. Bank of Montreal Can owned 0.08% of Clean Harbors worth $9,687,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Clearbridge Investments LLC grew its position in Clean Harbors by 30.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock worth $239,361,000 after acquiring an additional 248,240 shares during the last quarter. Lazard Freres Gestion S.A.S. bought a new stake in shares of Clean Harbors during the second quarter worth about $42,968,000. Marshall Wace LLP increased its stake in shares of Clean Harbors by 20.3% in the second quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock valued at $121,505,000 after buying an additional 90,756 shares during the period. Handelsbanken Fonder AB raised its holdings in Clean Harbors by 12.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 570,826 shares of the business services provider’s stock valued at $137,974,000 after buying an additional 63,800 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its position in Clean Harbors by 13.7% during the 2nd quarter. Artemis Investment Management LLP now owns 490,668 shares of the business services provider’s stock worth $110,965,000 after buying an additional 59,033 shares during the period. Institutional investors own 90.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CLH shares. Truist Financial raised their price target on shares of Clean Harbors from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC cut their target price on Clean Harbors from $274.00 to $268.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. StockNews.com cut Clean Harbors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird cut their price objective on Clean Harbors from $300.00 to $285.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Finally, Oppenheimer increased their target price on shares of Clean Harbors from $252.00 to $270.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $254.33.

Clean Harbors Stock Performance

NYSE:CLH opened at $260.09 on Monday. The company has a quick ratio of 1.76, a current ratio of 2.10 and a debt-to-equity ratio of 1.10. Clean Harbors, Inc. has a twelve month low of $158.42 and a twelve month high of $267.11. The company has a fifty day moving average of $251.34 and a 200-day moving average of $236.74. The firm has a market capitalization of $14.02 billion, a P/E ratio of 33.87 and a beta of 1.20.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.03). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. Clean Harbors had a net margin of 7.19% and a return on equity of 17.51%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the firm posted $1.68 earnings per share. As a group, sell-side analysts anticipate that Clean Harbors, Inc. will post 7.21 EPS for the current year.

Insiders Place Their Bets

In other Clean Harbors news, CEO Michael Louis Battles sold 10,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $245.74, for a total transaction of $2,457,400.00. Following the transaction, the chief executive officer now owns 77,136 shares in the company, valued at approximately $18,955,400.64. This represents a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren States sold 309 shares of Clean Harbors stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $244.09, for a total transaction of $75,423.81. Following the transaction, the director now owns 13,458 shares of the company’s stock, valued at $3,284,963.22. This represents a 2.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,447 shares of company stock worth $4,576,829. Corporate insiders own 5.90% of the company’s stock.

Clean Harbors 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.