Clean Harbors, Inc. (CLH) Shares Sold by State Treasurer State of Michigan
State Treasurer State of Michigan reduced its stake in shares of Clean Harbors, Inc. (NYSE:CLH) by 8.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,600 shares of the business services provider’s stock after selling 1,900 shares during the quarter. State Treasurer State of Michigan’s holdings in Clean Harbors were worth $1,111,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Quantitative Systematic Strategies LLC acquired a new stake in Clean Harbors during the 3rd quarter worth $282,000. Perpetual Ltd acquired a new stake in Clean Harbors during the 2nd quarter worth $3,770,000. Public Employees Retirement System of Ohio raised its stake in Clean Harbors by 23.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 26,830 shares of the business services provider’s stock worth $1,498,000 after acquiring an additional 5,034 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Clean Harbors by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 76,572 shares of the business services provider’s stock worth $4,276,000 after acquiring an additional 1,089 shares in the last quarter. Finally, Green Square Capital LLC raised its stake in Clean Harbors by 8.3% during the 2nd quarter. Green Square Capital LLC now owns 13,692 shares of the business services provider’s stock worth $764,000 after acquiring an additional 1,053 shares in the last quarter. Hedge funds and other institutional investors own 93.84% of the company’s stock.
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Shares of Clean Harbors, Inc. (NYSE:CLH) opened at $53.98 on Thursday. The firm has a market cap of $3,041.39, a PE ratio of 267.10 and a beta of 1.04. The company has a quick ratio of 1.86, a current ratio of 2.19 and a debt-to-equity ratio of 1.44. Clean Harbors, Inc. has a fifty-two week low of $43.72 and a fifty-two week high of $61.62.
Clean Harbors announced that its Board of Directors has authorized a stock buyback plan on Wednesday, November 1st that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other news, EVP Brian P. Weber sold 490 shares of Clean Harbors stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $56.18, for a total value of $27,528.20. Following the sale, the executive vice president now owns 59,413 shares of the company’s stock, valued at $3,337,822.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Eric W. Gerstenberg sold 4,667 shares of Clean Harbors stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $50.42, for a total transaction of $235,310.14. Following the completion of the sale, the chief operating officer now directly owns 91,950 shares in the company, valued at approximately $4,636,119. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,090 shares of company stock worth $313,845. Insiders own 8.90% of the company’s stock.
CLH has been the topic of several research analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $67.00 price target on shares of Clean Harbors in a research note on Wednesday, July 19th. Needham & Company LLC reiterated a “buy” rating and set a $66.00 price target on shares of Clean Harbors in a research note on Thursday, July 13th. Barclays PLC raised shares of Clean Harbors from an “underweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock in a research report on Monday, August 7th. ValuEngine raised shares of Clean Harbors from a “sell” rating to a “hold” rating in a research report on Thursday, August 31st. Finally, Canaccord Genuity reissued a “hold” rating and set a $57.00 price objective on shares of Clean Harbors in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Clean Harbors presently has a consensus rating of “Hold” and an average price target of $61.00.
About Clean Harbors
Clean Harbors, Inc is a provider of environmental, energy and industrial services throughout North America. The Company is also a re-refiner and recycler of used oil in the world and a provider of parts cleaning and related environmental services to commercial, industrial and automotive customers in North America.
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