Clean Harbors, Inc. (NYSE:CLH) Short Interest Update

Clean Harbors, Inc. (NYSE:CLH) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 748,700 shares, an increase of 28.0% from the February 28th total of 585,100 shares. Based on an average daily volume of 447,100 shares, the days-to-cover ratio is presently 1.7 days. Currently, 1.5% of the shares of the stock are sold short.

Insiders Place Their Bets

In other Clean Harbors news, insider Robert Speights sold 2,725 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $190.44, for a total value of $518,949.00. Following the completion of the transaction, the insider now directly owns 40,008 shares of the company’s stock, valued at $7,619,123.52. This trade represents a 6.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Eric J. Dugas acquired 1,050 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $191.38 per share, with a total value of $200,949.00. Following the purchase, the chief financial officer now directly owns 24,238 shares of the company’s stock, valued at $4,638,668.44. This trade represents a 4.53 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 3,341 shares of company stock worth $663,041 in the last quarter. 5.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clean Harbors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLH. Vanguard Group Inc. grew its holdings in Clean Harbors by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 4,659,064 shares of the business services provider’s stock worth $1,072,237,000 after acquiring an additional 11,814 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Clean Harbors by 17.2% during the fourth quarter. Wellington Management Group LLP now owns 4,044,092 shares of the business services provider’s stock worth $930,707,000 after purchasing an additional 592,341 shares during the period. Select Equity Group L.P. grew its stake in shares of Clean Harbors by 4.8% in the fourth quarter. Select Equity Group L.P. now owns 1,751,478 shares of the business services provider’s stock worth $403,085,000 after purchasing an additional 80,436 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in Clean Harbors by 72.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,658,128 shares of the business services provider’s stock valued at $381,602,000 after purchasing an additional 697,630 shares during the period. Finally, Janus Henderson Group PLC raised its position in Clean Harbors by 0.8% during the 4th quarter. Janus Henderson Group PLC now owns 1,612,082 shares of the business services provider’s stock valued at $371,002,000 after purchasing an additional 13,167 shares during the last quarter. 90.43% of the stock is currently owned by institutional investors.

Clean Harbors Trading Up 2.5 %

Shares of CLH traded up $5.02 during trading hours on Wednesday, hitting $205.85. The company had a trading volume of 445,247 shares, compared to its average volume of 327,987. The firm has a market cap of $11.09 billion, a P/E ratio of 27.74 and a beta of 1.22. Clean Harbors has a 52-week low of $186.54 and a 52-week high of $267.11. The stock’s 50 day moving average price is $215.05 and its 200 day moving average price is $234.76. The company has a quick ratio of 1.76, a current ratio of 2.21 and a debt-to-equity ratio of 1.08.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, February 19th. The business services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 16.33% and a net margin of 6.83%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.82 EPS. On average, research analysts predict that Clean Harbors will post 7.89 EPS for the current year.

Wall Street Analysts Forecast Growth

CLH has been the subject of a number of research reports. The Goldman Sachs Group cut their price target on shares of Clean Harbors from $250.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Stifel Nicolaus cut their target price on shares of Clean Harbors from $290.00 to $285.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Robert W. Baird lowered their price target on Clean Harbors from $285.00 to $272.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Truist Financial dropped their price target on Clean Harbors from $280.00 to $270.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, Oppenheimer reduced their price objective on Clean Harbors from $256.00 to $254.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.