Quantbot Technologies LP Makes New $2.09 Million Investment in Clean Harbors, Inc. $CLH

Quantbot Technologies LP acquired a new position in shares of Clean Harbors, Inc. (NYSE:CLH) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,997 shares of the business services provider’s stock, valued at approximately $2,090,000.

Several other hedge funds have also recently made changes to their positions in CLH. Assetmark Inc. lifted its position in Clean Harbors by 8.9% during the 1st quarter. Assetmark Inc. now owns 430 shares of the business services provider’s stock worth $123,000 after acquiring an additional 35 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Clean Harbors by 2.6% in the first quarter. NewEdge Advisors LLC now owns 1,995 shares of the business services provider’s stock valued at $572,000 after purchasing an additional 50 shares during the period. SkyView Investment Advisors LLC raised its stake in shares of Clean Harbors by 2.3% in the second quarter. SkyView Investment Advisors LLC now owns 2,378 shares of the business services provider’s stock worth $549,000 after purchasing an additional 53 shares during the last quarter. US Bancorp DE raised its stake in shares of Clean Harbors by 16.9% in the third quarter. US Bancorp DE now owns 374 shares of the business services provider’s stock worth $87,000 after purchasing an additional 54 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of Clean Harbors by 2.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,121 shares of the business services provider’s stock worth $608,000 after purchasing an additional 59 shares during the period. 90.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Clean Harbors

In related news, CEO Eric W. Gerstenberg sold 2,500 shares of the firm’s stock in a transaction on 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 owned 56,793 shares in the company, valued at approximately $18,249,862.62. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrea Robertson sold 789 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $314.01, for a total transaction of $247,753.89. Following the sale, the director owned 8,979 shares in the company, valued at approximately $2,819,495.79. This represents a 8.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.00% of the stock is owned by insiders.

Clean Harbors Stock Down 0.8%

Clean Harbors stock opened at $313.58 on Tuesday. The business’s 50-day moving average price is $305.74 and its 200 day moving average price is $295.16. The company has a quick ratio of 1.80, a current ratio of 2.13 and a debt-to-equity ratio of 0.94. The firm has a market cap of $16.55 billion, a price-to-earnings ratio of 38.06, a price-to-earnings-growth ratio of 2.04 and a beta of 0.86. Clean Harbors, Inc. has a 52 week low of $201.34 and a 52 week high of $335.94.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company posted $2.36 earnings per share. Clean Harbors’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Clean Harbors, Inc. will post 9.72 earnings per share for the current year.

Wall Street Analyst Weigh In

CLH has been the topic of a number of recent research reports. Truist Financial upped their target price on Clean Harbors from $350.00 to $365.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. BMO Capital Markets lifted their price objective on shares of Clean Harbors from $340.00 to $342.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Bank of America set a $377.00 price objective on shares of Clean Harbors and gave the company a “buy” rating in a report on Thursday, July 30th. Wells Fargo & Company increased their price objective on shares of Clean Harbors from $313.00 to $349.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Finally, TD Cowen raised their target price on shares of Clean Harbors from $335.00 to $380.00 and gave the stock a “buy” rating in a report 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $354.57.

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.