Short Interest in Clean Harbors, Inc. (NYSE:CLH) Increases By 16.9%

Clean Harbors, Inc. (NYSE:CLH) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 585,100 shares, a growth of 16.9% from the February 13th total of 500,300 shares. Based on an average trading volume of 427,100 shares, the days-to-cover ratio is presently 1.4 days. Currently, 1.2% of the shares of the company are sold short.

Insider Transactions at Clean Harbors

In other Clean Harbors news, CFO Eric J. Dugas purchased 1,050 shares of the stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $191.38 per share, with a total value of $200,949.00. Following the acquisition, the chief financial officer now directly owns 24,238 shares in the company, valued at approximately $4,638,668.44. The trade was a 4.53 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren States sold 308 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $228.79, for a total value of $70,467.32. Following the completion of the sale, the director now directly owns 11,918 shares in the company, valued at approximately $2,726,719.22. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,341 shares of company stock worth $663,041. 5.90% of the stock is owned by company insiders.

Institutional Trading of Clean Harbors

Several hedge funds have recently added to or reduced their stakes in CLH. Reliant Investment Management LLC purchased a new position in shares of Clean Harbors during the fourth quarter worth approximately $4,386,000. Fiduciary Alliance LLC acquired a new stake in Clean Harbors in the fourth quarter valued at $846,000. Mountain Pacific Investment Advisers LLC lifted its holdings in Clean Harbors by 4.5% in the fourth quarter. Mountain Pacific Investment Advisers LLC now owns 99,039 shares of the business services provider’s stock valued at $22,793,000 after acquiring an additional 4,240 shares during the period. Barclays PLC lifted its holdings in Clean Harbors by 44.5% in the third quarter. Barclays PLC now owns 28,056 shares of the business services provider’s stock valued at $6,781,000 after acquiring an additional 8,639 shares during the period. Finally, Anthracite Investment Company Inc. acquired a new position in shares of Clean Harbors during the 3rd quarter worth $1,692,000. Institutional investors and hedge funds own 90.43% of the company’s stock.

Clean Harbors Price Performance

Shares of CLH stock traded up $1.81 during trading hours on Wednesday, reaching $196.72. The company had a trading volume of 378,946 shares, compared to its average volume of 315,712. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 26.51 and a beta of 1.22. Clean Harbors has a 12-month low of $186.54 and a 12-month high of $267.11. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.76 and a current ratio of 2.21. The stock has a fifty day moving average of $222.52 and a 200-day moving average of $237.58.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings results on Wednesday, February 19th. The business services provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.19. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Clean Harbors had a net margin of 6.83% and a return on equity of 16.33%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 earnings per share. On average, equities analysts anticipate that Clean Harbors will post 7.89 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CLH. StockNews.com raised Clean Harbors from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. Truist Financial reduced their price target on Clean Harbors from $280.00 to $270.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. The Goldman Sachs Group reduced their price target on Clean Harbors from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $268.00 target price on shares of Clean Harbors in a research report on Thursday, February 20th. Finally, BMO Capital Markets lowered their price objective on Clean Harbors from $284.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Clean Harbors presently has an average rating of “Buy” and a consensus price target of $266.56.

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.