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Sandler Capital Management Acquires 125,710 Shares of Clean Harbors, Inc. (NYSE:CLH)

Financial News Live ·  Sep 13, 2022 11:02

Sandler Capital Management lifted its holdings in Clean Harbors, Inc. (NYSE:CLH – Get Rating) by 78.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,747 shares of the business services provider's stock after acquiring an additional 125,710 shares during the quarter. Clean Harbors makes up approximately 2.8% of Sandler Capital Management's holdings, making the stock its largest holding. Sandler Capital Management's holdings in Clean Harbors were worth $31,901,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC lifted its holdings in Clean Harbors by 1.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 12,451 shares of the business services provider's stock worth $1,390,000 after buying an additional 140 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in Clean Harbors by 35.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 67,062 shares of the business services provider's stock worth $7,487,000 after buying an additional 17,572 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new position in Clean Harbors during the 1st quarter worth $558,000. Victory Capital Management Inc. lifted its holdings in Clean Harbors by 19.9% during the 1st quarter. Victory Capital Management Inc. now owns 411,987 shares of the business services provider's stock worth $45,892,000 after buying an additional 68,412 shares in the last quarter. Finally, Pitcairn Co. acquired a new position in Clean Harbors during the 1st quarter worth $518,000. Institutional investors and hedge funds own 88.85% of the company's stock.

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Insider Transactions at Clean Harbors

In other news, EVP Brian P. Weber sold 2,003 shares of the stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $122.42, for a total transaction of $245,207.26. Following the completion of the transaction, the executive vice president now directly owns 62,103 shares in the company, valued at approximately $7,602,649.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Brian P. Weber sold 2,003 shares of the firm's stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $122.42, for a total value of $245,207.26. Following the completion of the sale, the executive vice president now directly owns 62,103 shares in the company, valued at approximately $7,602,649.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrea Robertson sold 1,095 shares of the firm's stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $106.37, for a total transaction of $116,475.15. Following the completion of the sale, the director now owns 10,719 shares of the company's stock, valued at $1,140,180.03. The disclosure for this sale can be found here. Company insiders own 6.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CLH shares. Needham & Company LLC upped their price objective on Clean Harbors from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, August 4th. BMO Capital Markets upped their target price on shares of Clean Harbors from $104.00 to $124.00 and gave the company an "outperform" rating in a research report on Thursday, August 4th. StockNews.com upgraded shares of Clean Harbors from a "buy" rating to a "strong-buy" rating in a research report on Thursday, August 4th. Robert W. Baird upped their target price on shares of Clean Harbors from $131.00 to $150.00 in a research report on Thursday, August 4th. Finally, Stifel Nicolaus upped their price objective on shares of Clean Harbors from $127.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, September 2nd. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $137.38.

Clean Harbors Trading Up 1.0 %

Clean Harbors stock opened at $123.66 on Tuesday. The firm has a 50-day moving average of $105.68 and a 200-day moving average of $101.14. Clean Harbors, Inc. has a one year low of $81.56 and a one year high of $124.49. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.94 and a quick ratio of 1.66. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 21.93 and a beta of 1.43.

Clean Harbors (NYSE:CLH – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The business services provider reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.91. Clean Harbors had a net margin of 6.70% and a return on equity of 18.40%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the business posted $1.19 EPS. The company's quarterly revenue was up 46.8% on a year-over-year basis. On average, equities analysts expect that Clean Harbors, Inc. will post 6.53 earnings per share for the current fiscal year.

Clean Harbors Company Profile

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Clean Harbors, Inc provides environmental and industrial services in North America. 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 CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.

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