August 26, 2023 – Financial Services Firm Increases Stake in Clean Harbors
Wealth management firm EverSource Wealth Advisors LLC has recently announced that it has increased its stake in Clean Harbors, Inc. (NYSE:CLH) by 35.8% during the first quarter of this year. This information was disclosed in the company’s most recent filing with the Securities and Exchange Commission. The institutional investor now holds 10,273 shares of Clean Harbors’ stock after purchasing an additional 2,706 shares during the quarter. As of the end of the reporting period, EverSource Wealth Advisors’ holdings in Clean Harbors were valued at $1,465,000.
Clean Harbors is a renowned business services provider listed on the New York Stock Exchange under ticker symbol CLH. The company recently released its quarterly earnings results on August 2nd, reporting earnings per share (EPS) of $2.13 for the quarter. These figures surpassed analysts’ average estimates by $0.04 per share. Moreover, Clean Harbors generated revenue of $1.40 billion during this time period, slightly below analyst projections of $1.42 billion.
The robust performance observed by Clean Harbors can be attributed to several factors including a return on equity of 20.42% and a net margin of 7.60%. Additionally, the company’s quarterly revenue increased by 3.1% compared to the same period last year when they posted EPS figures of $2.44.
Looking ahead, sell-side analysts expect Clean Harbors to achieve earnings per share of approximately $7.17 for the current fiscal year.
In other news related to Clean Harbors stock activity, Chief Accounting Officer Eric J. Dugas recently sold 898 shares on July 3rd at an average price of $164.43 per share resulting in a total transaction value of $147,658.14. Following the completion of this transaction, Dugas holds 28,614 shares in the company estimated to be valued at approximately $4,705,000.02. This sale was disclosed in a filing with the Securities and Exchange Commission (SEC).
Additionally, Vice President George L. Curtis sold 10,303 shares on August 23rd for an average price of $171.54 per share, resulting in a total value of $1,767,376.62. Following this transaction, Curtis now owns 48,102 shares valued at about $8,251,417.08.
In the last quarter alone, insiders sold a total of 44,575 shares of Clean Harbors stock worth $7,423,304. Currently, company insiders own approximately 6.70% of the stock.
For more information regarding these transactions and disclosures by Clean Harbors representatives or to access related filings with the SEC visit their website.
About Clean Harbors:
Clean Harbors is a leading business services provider that offers comprehensive environmental and industrial services to clients across various industries. With its headquarters situated in New York City and its stock publicly traded on NYSE under symbol CLH since ________. The company’s commitment to safety and sustainability has cemented its reputation as a trusted partner for managing hazardous waste disposal and providing emergency response solutions.
Disclaimer: The above article is for informational purposes only and should not be construed as financial advice or a recommendation to buy or sell any securities mentioned herein. Investors are advised to conduct their thorough research before making any investment decisions
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Clean Harbors Receives Attention from Hedge Funds and Institutional Investors, Stock Performance Remains Strong
Clean Harbors, a business services provider, has garnered attention from various hedge funds and institutional investors recently. Zurcher Kantonalbank Zurich Cantonalbank saw a 9.4% growth in their position in Clean Harbors during the first quarter, acquiring an additional 699 shares. Daiwa Securities Group Inc. also experienced a slight increase of 0.5% in their Clean Harbors shares during the fourth quarter, acquiring 362 additional shares. Barclays PLC observed a substantial growth of 150.2%, gaining an extra 18,043 Clean Harbors shares during the first quarter.
US Bancorp DE witnessed the highest increase in their Clean Harbors holdings during the first quarter, with a staggering growth rate of 65.4%. They purchased an additional 4,788 shares of Clean Harbors stock. AGF Management Ltd., on the other hand, entered the scene and acquired a new stake worth around $3,739,000.
It is important to note that institutional investors and hedge funds now own approximately 88.36% of Clean Harbors’ stock.
On August 26th, Clean Harbors (ticker symbol CLH) saw its stock trade up by $1.22 to reach $169.98 on the New York Stock Exchange (NYSE). The trading volume for that day was approximately 43,601 shares compared to its average volume of 376,457 shares. Currently, Clean Harbors has a market capitalization of $9.20 billion with a price-to-earnings (P/E) ratio of 22.56 and a beta value of 1.39.
Clean Harbors’ stock performance over the past year has been relatively strong with a low point at around $106.71 and a high point at $178.33 per share. Its fifty-day moving average is recorded at $166.42, while its two-hundred-day moving average stands at $149.01. The company maintains a quick ratio of 1.67 and a current ratio of 2.02, indicating its ability to cover short-term obligations efficiently. Furthermore, Clean Harbors carries a debt-to-equity ratio of 1.09.
Analysts have been actively monitoring Clean Harbors’ performance and their research reports provide valuable insights. Needham & Company LLC reaffirmed their “buy” rating on Clean Harbors with a price target of $182.00 in their report released on August 3rd. BMO Capital Markets also revised their target price for the company from $180.00 to $187.00 on the same day. The Goldman Sachs Group upgraded Clean Harbors to a “neutral” rating and raised their target price from $166.00 to $190.00.
Other researchers, such as Robert W. Baird and Stifel Nicolaus, have also increased their price targets for Clean Harbors stock, reaching $165.00 and $180.00 respectively.
Bloomberg reports that Clean Harbors has an average rating of “Moderate Buy” among analysts, with a consensus target price of $179.89.
To stay updated on the latest developments in Clean Harbors’ operations and financial performance, readers can refer to our most recent report on the company.
Published date: August 26, 2023
