Sei Investments Co. Raises Stock Holdings in Clean Harbors, Inc. (NYSE:CLH)

Sei Investments Co. increased its position in Clean Harbors, Inc. (NYSE:CLH) by 9.1% in the first quarter, HoldingsChannel.com reports. The fund owned 185,241 shares of the business services provider’s stock after buying an additional 15,395 shares during the period. Sei Investments Co.’s holdings in Clean Harbors were worth $37,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV raised its stake in Clean Harbors by 4.0% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 1,287 shares of the business services provider’s stock worth $259,000 after acquiring an additional 50 shares during the last quarter. GAMMA Investing LLC grew its position in Clean Harbors by 47.9% during the 1st quarter. GAMMA Investing LLC now owns 173 shares of the business services provider’s stock worth $35,000 after purchasing an additional 56 shares during the period. EverSource Wealth Advisors LLC grew its position in Clean Harbors by 0.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 10,573 shares of the business services provider’s stock worth $1,845,000 after purchasing an additional 58 shares during the period. Blue Trust Inc. grew its position in Clean Harbors by 52.4% during the 4th quarter. Blue Trust Inc. now owns 218 shares of the business services provider’s stock worth $36,000 after purchasing an additional 75 shares during the period. Finally, Commerce Bank grew its position in Clean Harbors by 3.3% during the 4th quarter. Commerce Bank now owns 2,457 shares of the business services provider’s stock worth $429,000 after purchasing an additional 79 shares during the period. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Clean Harbors Price Performance

Shares of NYSE:CLH traded up $1.49 during trading on Monday, reaching $228.55. 250,554 shares of the company’s stock traded hands, compared to its average volume of 315,224. The company has a quick ratio of 1.72, a current ratio of 2.07 and a debt-to-equity ratio of 1.20. Clean Harbors, Inc. has a fifty-two week low of $132.92 and a fifty-two week high of $231.48. The firm has a market cap of $12.33 billion, a PE ratio of 32.86 and a beta of 1.21. The company has a 50-day simple moving average of $219.06 and a 200-day simple moving average of $196.67.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.13. Clean Harbors had a return on equity of 16.97% and a net margin of 6.85%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the firm posted $1.36 EPS. Clean Harbors’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts predict that Clean Harbors, Inc. will post 7.47 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Alan S. Mckim sold 50,000 shares of Clean Harbors stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $215.51, for a total value of $10,775,500.00. Following the sale, the insider now directly owns 2,494,211 shares in the company, valued at approximately $537,527,412.61. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Alan S. Mckim sold 50,000 shares of Clean Harbors stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $215.51, for a total value of $10,775,500.00. Following the sale, the insider now directly owns 2,494,211 shares in the company, valued at approximately $537,527,412.61. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Eric J. Dugas sold 6,200 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $208.74, for a total transaction of $1,294,188.00. Following the completion of the transaction, the chief financial officer now directly owns 21,482 shares in the company, valued at $4,484,152.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,348 shares of company stock worth $12,320,113. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CLH. Truist Financial increased their price target on Clean Harbors from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday. BMO Capital Markets increased their price target on Clean Harbors from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Raymond James increased their price target on Clean Harbors from $225.00 to $235.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 2nd. Robert W. Baird increased their price target on Clean Harbors from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $235.00 price target on shares of Clean Harbors in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $218.40.

About Clean Harbors

Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.