M.D. Sass LLC Makes New $80.81 Million Investment in Clean Harbors, Inc. $CLH

M.D. Sass LLC acquired a new stake in Clean Harbors, Inc. (NYSE:CLH) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 270,507 shares of the business services provider’s stock, valued at approximately $80,814,000. Clean Harbors comprises 5.3% of M.D. Sass LLC’s holdings, making the stock its 4th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Clean Harbors in the second quarter valued at approximately $1,516,521,000. Norges Bank bought a new stake in Clean Harbors during the fourth quarter worth $152,195,000. Durable Capital Partners LP bought a new stake in Clean Harbors during the third quarter worth $133,217,000. Bank of New York Mellon Corp purchased a new position in Clean Harbors in the second quarter worth $105,962,000. Finally, Two Sigma Investments LP grew its stake in Clean Harbors by 148.3% in the 3rd quarter. Two Sigma Investments LP now owns 384,494 shares of the business services provider’s stock valued at $89,287,000 after purchasing an additional 229,666 shares during the period. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Insider Buying and Selling at Clean Harbors

In other Clean Harbors news, CEO Eric W. Gerstenberg sold 2,500 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $321.34, for a total transaction of $803,350.00. Following the sale, the chief executive officer directly owned 56,793 shares of the company’s stock, valued at $18,249,862.62. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrea Robertson sold 789 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $314.01, for a total transaction of $247,753.89. Following the transaction, the director owned 8,979 shares of the company’s stock, valued at $2,819,495.79. This represents a 8.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,078 shares of company stock valued at $1,276,908 over the last three months. 5.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Weiss Ratings raised Clean Harbors from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 30th. Raymond James Financial restated a “strong-buy” rating and set a $375.00 price target on shares of Clean Harbors in a research report on Thursday, July 30th. Stifel Nicolaus raised their price objective on shares of Clean Harbors from $337.00 to $364.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Clean Harbors in a research report on Wednesday, July 29th. Finally, Barclays boosted their target price on shares of Clean Harbors from $305.00 to $325.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $354.57.

Clean Harbors Stock Performance

Shares of CLH opened at $319.75 on Wednesday. Clean Harbors, Inc. has a 1 year low of $201.34 and a 1 year high of $335.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.13 and a quick ratio of 1.80. The stock’s fifty day moving average price is $303.16 and its two-hundred day moving average price is $293.49. The firm has a market cap of $16.88 billion, a PE ratio of 38.81, a PEG ratio of 2.12 and a beta of 0.86.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.41. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%.The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the company earned $2.36 EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts forecast that Clean Harbors, Inc. will post 9.51 EPS for the current year.

About Clean Harbors

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.