CI Investments Inc. Lowers Stock Holdings in Clean Harbors, Inc. $CLH

CI Investments Inc. reduced its position in Clean Harbors, Inc. (NYSE:CLH) by 50.6% in the first quarter, Holdings Channel.com reports. The fund owned 20,260 shares of the business services provider’s stock after selling 20,759 shares during the quarter. CI Investments Inc.’s holdings in Clean Harbors were worth $5,809,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in Clean Harbors in the 4th quarter worth approximately $152,195,000. Durable Capital Partners LP purchased a new position in shares of Clean Harbors during the 3rd quarter valued at $133,217,000. Two Sigma Investments LP grew its position in shares of Clean Harbors by 148.3% during 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 in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Clean Harbors by 10.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider’s stock worth $557,146,000 after purchasing an additional 215,659 shares during the period. Finally, Corient Private Wealth LLC increased its holdings in shares of Clean Harbors by 3,782.7% in the fourth quarter. Corient Private Wealth LLC now owns 194,718 shares of the business services provider’s stock worth $45,657,000 after purchasing an additional 189,703 shares during the period. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Insiders Place Their Bets

In other Clean Harbors news, Director Lauren States sold 789 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $286.19, for a total transaction of $225,803.91. Following the transaction, the director directly owned 11,359 shares of the company’s stock, valued at approximately $3,250,832.21. The trade was a 6.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Clean Harbors from $309.00 to $313.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. TD Cowen upped their target price on Clean Harbors from $320.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Oppenheimer raised their price target on Clean Harbors from $310.00 to $316.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Robert W. Baird lifted their price target on Clean Harbors from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Finally, Needham & Company LLC boosted their price objective on Clean Harbors from $308.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $327.92.

Clean Harbors Price Performance

Shares of NYSE:CLH opened at $306.18 on Friday. The company’s fifty day moving average is $293.43 and its 200 day moving average is $286.26. Clean Harbors, Inc. has a 52 week low of $201.34 and a 52 week high of $316.98. The stock has a market cap of $16.18 billion, a PE ratio of 41.49 and a beta of 0.86. The company has a quick ratio of 1.99, a current ratio of 2.34 and a debt-to-equity ratio of 0.99.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. Clean Harbors had a return on equity of 14.37% and a net margin of 6.53%.The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the company earned $1.09 EPS. Clean Harbors’s revenue for the quarter was up 1.9% compared to the same quarter last year. Research analysts anticipate that Clean Harbors, Inc. will post 8.59 earnings per share for the current year.

Clean Harbors Profile

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.