Ieq Capital LLC Makes New Investment in Clean Harbors, Inc. $CLH

Ieq Capital LLC purchased a new stake in shares of Clean Harbors, Inc. (NYSE:CLH) during the second quarter, Holdings Channel.com reports. The firm purchased 2,341 shares of the business services provider’s stock, valued at approximately $699,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CLH. BlackRock Inc. purchased a new stake in shares of Clean Harbors during the second quarter valued at $1,516,521,000. Janus Henderson Group PLC raised its stake in Clean Harbors by 10.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider’s stock worth $557,146,000 after acquiring an additional 215,659 shares during the last quarter. State Street Corp raised its stake in Clean Harbors by 0.8% in the 3rd quarter. State Street Corp now owns 1,515,621 shares of the business services provider’s stock worth $351,958,000 after acquiring an additional 12,452 shares during the last quarter. Bessemer Group Inc. lifted its position in Clean Harbors by 1.8% during the 1st quarter. Bessemer Group Inc. now owns 932,027 shares of the business services provider’s stock worth $267,239,000 after acquiring an additional 16,747 shares during the period. Finally, Geode Capital Management LLC lifted its position in Clean Harbors by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 917,779 shares of the business services provider’s stock worth $215,247,000 after acquiring an additional 11,020 shares during the period. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Clean Harbors Stock Down 0.6%

Shares of CLH opened at $311.88 on Friday. The company has a market capitalization of $16.46 billion, a price-to-earnings ratio of 37.85, a PEG ratio of 2.02 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. The stock’s 50-day moving average price is $307.08 and its 200-day moving average price is $296.18. The company has a quick ratio of 1.80, a current ratio of 2.13 and a debt-to-equity ratio of 0.94.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share for the quarter, beating 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 analysts’ expectations of $1.64 billion. During the same period last year, the business earned $2.36 earnings per share. Clean Harbors’s quarterly revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts predict that Clean Harbors, Inc. will post 9.72 EPS for the current year.

Insider Buying and Selling

In related news, Director Andrea Robertson sold 789 shares of the 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 directly owned 8,979 shares of the company’s stock, valued at approximately $2,819,495.79. This represents a 8.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 represents a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on Clean Harbors from $340.00 to $342.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Oppenheimer reiterated an “outperform” rating and issued a $350.00 target price on shares of Clean Harbors in a research report on Thursday, July 30th. Wall Street Zen raised shares of Clean Harbors from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Barclays lifted their price objective 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. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $354.57.

Clean Harbors Company 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.