Massachusetts Financial Services Co. MA decreased its holdings in Clean Harbors Inc (NYSE:CLH) by 31.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,423,036 shares of the business services provider’s stock after selling 643,410 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.54% of Clean Harbors worth $101,861,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Brown Advisory Inc. bought a new stake in Clean Harbors during the first quarter valued at $225,000. Oakbrook Investments LLC bought a new stake in Clean Harbors during the second quarter valued at $239,000. Campbell & CO Investment Adviser LLC bought a new stake in Clean Harbors during the second quarter valued at $322,000. Sawtooth Solutions LLC bought a new stake in Clean Harbors during the second quarter valued at $350,000. Finally, Strs Ohio bought a new stake in Clean Harbors during the second quarter valued at $364,000. 94.74% of the stock is currently owned by institutional investors.
A number of analysts have commented on the stock. Needham & Company LLC upped their price target on shares of Clean Harbors from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, October 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $80.00 price target (up previously from $70.00) on shares of Clean Harbors in a research report on Tuesday, September 25th. ValuEngine raised shares of Clean Harbors from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. BMO Capital Markets upped their price target on shares of Clean Harbors from $65.00 to $71.00 and gave the company an “outperform” rating in a research report on Thursday, August 2nd. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $69.00 price target on shares of Clean Harbors in a research report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.25.
Clean Harbors (NYSE:CLH) last released its quarterly earnings data on Wednesday, August 1st. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.19. The company had revenue of $849.14 million for the quarter, compared to analysts’ expectations of $838.85 million. Clean Harbors had a net margin of 3.69% and a return on equity of 3.17%. The business’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 EPS. As a group, sell-side analysts expect that Clean Harbors Inc will post 1.01 EPS for the current fiscal year.
In other news, CFO Michael Louis Battles sold 6,000 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $69.46, for a total transaction of $416,760.00. Following the transaction, the chief financial officer now owns 55,899 shares of the company’s stock, valued at approximately $3,882,744.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David J. Vergo sold 2,384 shares of the stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $62.22, for a total transaction of $148,332.48. Following the transaction, the insider now directly owns 29,450 shares in the company, valued at approximately $1,832,379. The disclosure for this sale can be found here. Insiders have sold a total of 20,817 shares of company stock worth $1,392,201 in the last three months. Insiders own 8.70% of the company’s stock.
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.
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