Clean Harbors Inc (NYSE:CLH) Sees Large Drop in Short Interest

Clean Harbors Inc (NYSE:CLH) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,300,000 shares, a decline of 8.5% from the January 15th total of 1,420,000 shares. Based on an average daily trading volume, of 344,900 shares, the days-to-cover ratio is presently 3.8 days. Currently, 2.5% of the shares of the company are short sold.

Several analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Clean Harbors from $95.00 to $106.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Jefferies Financial Group started coverage on shares of Clean Harbors in a research report on Wednesday, November 27th. They set an “underperform” rating and a $75.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $84.00.

Shares of CLH traded up $0.51 during mid-day trading on Friday, reaching $86.90. The stock had a trading volume of 228,800 shares, compared to its average volume of 322,700. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 53.98 and a beta of 1.65. Clean Harbors has a 12 month low of $59.27 and a 12 month high of $88.01. The business has a fifty day moving average of $84.68 and a 200 day moving average of $80.15. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.60 and a current ratio of 1.91.

In related news, CEO Alan S. Mckim sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $82.75, for a total transaction of $1,655,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,647,181 shares in the company, valued at $301,804,227.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Texas Permanent School Fund lifted its holdings in shares of Clean Harbors by 0.4% in the fourth quarter. Texas Permanent School Fund now owns 35,120 shares of the business services provider’s stock worth $3,012,000 after buying an additional 140 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Clean Harbors by 1.1% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 14,654 shares of the business services provider’s stock worth $1,131,000 after buying an additional 154 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Clean Harbors by 0.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 32,374 shares of the business services provider’s stock worth $2,775,000 after buying an additional 197 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of Clean Harbors by 1.3% in the fourth quarter. State of Michigan Retirement System now owns 15,100 shares of the business services provider’s stock worth $1,295,000 after buying an additional 200 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Clean Harbors by 0.3% in the third quarter. California State Teachers Retirement System now owns 82,123 shares of the business services provider’s stock worth $6,340,000 after buying an additional 222 shares in the last quarter. Institutional investors and hedge funds own 90.37% of the company’s stock.

About Clean Harbors

Clean Harbors, Inc provides environmental, energy, and industrial services in North America. The company operates through two segments, Environmental Services and Safety-Kleen. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste that include resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and CleanPack, a service to collect, identify, categorize, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous wastes.

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