Algebris UK Ltd Takes Position in Clean Harbors, Inc. (NYSE:CLH)

Algebris UK Ltd acquired a new position in Clean Harbors, Inc. (NYSE:CLH) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,770 shares of the business services provider’s stock, valued at approximately $1,283,000. Clean Harbors accounts for about 0.3% of Algebris UK Ltd’s portfolio, making the stock its 29th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in the business. Reliant Investment Management LLC acquired a new position in shares of Clean Harbors during the fourth quarter valued at about $4,386,000. Fiduciary Alliance LLC acquired a new stake in shares of Clean Harbors during the 4th quarter worth approximately $846,000. Mountain Pacific Investment Advisers LLC grew its stake in Clean Harbors by 4.5% in the 4th quarter. Mountain Pacific Investment Advisers LLC now owns 99,039 shares of the business services provider’s stock valued at $22,793,000 after acquiring an additional 4,240 shares during the period. Barclays PLC grew its stake in Clean Harbors by 44.5% in the 3rd quarter. Barclays PLC now owns 28,056 shares of the business services provider’s stock valued at $6,781,000 after acquiring an additional 8,639 shares during the period. Finally, Anthracite Investment Company Inc. acquired a new stake in Clean Harbors in the 3rd quarter valued at $1,692,000. 90.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on CLH shares. Robert W. Baird lowered their target price on shares of Clean Harbors from $285.00 to $272.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Oppenheimer reduced their price objective on shares of Clean Harbors from $256.00 to $254.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. BMO Capital Markets reduced their price objective on shares of Clean Harbors from $284.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $268.00 target price on shares of Clean Harbors in a research report on Thursday, February 20th. Finally, Truist Financial dropped their target price on Clean Harbors from $280.00 to $270.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $270.56.

Insider Buying and Selling

In related news, Director Lauren States sold 308 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $228.79, for a total transaction of $70,467.32. Following the completion of the transaction, the director now owns 11,918 shares of the company’s stock, valued at approximately $2,726,719.22. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Speights sold 2,725 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $190.44, for a total value of $518,949.00. Following the completion of the transaction, the insider now directly owns 40,008 shares of the company’s stock, valued at approximately $7,619,123.52. This trade represents a 6.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,341 shares of company stock worth $663,041 in the last three months. 5.90% of the stock is currently owned by insiders.

Clean Harbors Stock Performance

Shares of NYSE:CLH opened at $194.99 on Wednesday. Clean Harbors, Inc. has a one year low of $186.54 and a one year high of $267.11. The business’s 50-day simple moving average is $222.52 and its 200 day simple moving average is $237.58. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.76 and a current ratio of 2.21. The company has a market cap of $10.50 billion, a P/E ratio of 26.28 and a beta of 1.22.

Clean Harbors (NYSE:CLH) last issued its earnings results on Wednesday, February 19th. The business services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.36 by $0.19. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. Clean Harbors had a return on equity of 16.33% and a net margin of 6.83%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.82 EPS. On average, sell-side analysts forecast that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Clean Harbors Company Profile

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.