Acadian Asset Management LLC Acquires 9,090 Shares of Clean Harbors Inc (CLH)

Acadian Asset Management LLC boosted its holdings in Clean Harbors Inc (NYSE:CLH) by 1,304.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,787 shares of the business services provider’s stock after purchasing an additional 9,090 shares during the period. Acadian Asset Management LLC’s holdings in Clean Harbors were worth $544,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CLH. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Clean Harbors by 96.3% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,277 shares of the business services provider’s stock worth $122,000 after acquiring an additional 1,117 shares during the period. Fort Washington Investment Advisors Inc. OH purchased a new position in Clean Harbors in the 1st quarter worth approximately $15,131,000. Wells Fargo & Company MN boosted its holdings in Clean Harbors by 27.7% in the 1st quarter. Wells Fargo & Company MN now owns 70,456 shares of the business services provider’s stock worth $3,438,000 after acquiring an additional 15,304 shares during the period. Mackay Shields LLC purchased a new position in Clean Harbors in the 1st quarter worth approximately $941,000. Finally, Parametrica Management Ltd purchased a new position in Clean Harbors in the 1st quarter worth approximately $283,000. 94.86% of the stock is owned by institutional investors and hedge funds.

Shares of Clean Harbors opened at $61.93 on Monday, according to MarketBeat Ratings. Clean Harbors Inc has a 52-week low of $44.74 and a 52-week high of $64.71. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 187.67 and a beta of 0.95. The company has a current ratio of 2.09, a quick ratio of 1.73 and a debt-to-equity ratio of 1.40.

Clean Harbors (NYSE:CLH) last announced its earnings results on Wednesday, August 1st. The business services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.19. Clean Harbors had a return on equity of 3.17% and a net margin of 3.69%. The company had revenue of $849.14 million for the quarter, compared to analyst estimates of $838.85 million. During the same period in the prior year, the company posted $0.24 EPS. Clean Harbors’s quarterly revenue was up 12.8% on a year-over-year basis. sell-side analysts expect that Clean Harbors Inc will post 0.98 earnings per share for the current fiscal year.

A number of research firms have weighed in on CLH. Needham & Company LLC upped their price target on Clean Harbors from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Stifel Nicolaus upped their price target on Clean Harbors from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. ValuEngine upgraded Clean Harbors from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. BMO Capital Markets upped their price target on Clean Harbors from $65.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, August 2nd. Finally, Robert W. Baird restated a “buy” rating and issued a $69.00 price target on shares of Clean Harbors in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $63.25.

In other Clean Harbors news, SVP Eric J. Dugas sold 900 shares of the company’s stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $52.76, for a total value of $47,484.00. Following the transaction, the senior vice president now directly owns 19,172 shares of the company’s stock, valued at approximately $1,011,514.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Eric W. Gerstenberg sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, June 25th. The shares were sold at an average price of $55.19, for a total value of $441,520.00. Following the completion of the transaction, the chief operating officer now directly owns 59,486 shares in the company, valued at $3,283,032.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,743 shares of company stock worth $975,034. 8.70% of the stock is currently owned by corporate insiders.

Clean Harbors Company Profile

Clean Harbors, Inc provides environmental, energy, and industrial services in North America. It operates through Technical Services; Industrial and Field Services; Safety-Kleen; and Oil, Gas and Lodging Services segments. The company's Technical Services segment provides a range of hazardous material management services, including the packaging, collection, transportation, treatment, and disposal of hazardous and non-hazardous waste at its incinerator, landfill, wastewater, and other treatment facilities.

Further Reading: Are Wall Street analysts’ stock ratings worth following?

Institutional Ownership by Quarter for Clean Harbors (NYSE:CLH)

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