Clean Harbors (NYSE:CLH) Stock: Insider Karyn Polito Purchases 125 Shares

Clean Harbors, Inc. (NYSE:CLH) Director Karyn Polito purchased 125 shares of the company’s stock in a transaction dated Thursday, October 29th. The shares were acquired at an average price of $314.83 per share, for a total transaction of $39,353.75. Following the purchase, the director directly owned 4,252 shares of the company’s stock, valued at approximately $1,338,657.16. The trade was a 3.03% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Clean Harbors Stock Down 0.2%

NYSE:CLH opened at $295.46 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.63 and a debt-to-equity ratio of 0.92. Clean Harbors, Inc. has a twelve month low of $201.34 and a twelve month high of $335.94. The company has a market cap of $15.58 billion, a PE ratio of 29.67, a P/E/G ratio of 1.67 and a beta of 0.87. The company’s 50 day moving average is $315.15 and its two-hundred day moving average is $298.11.

Clean Harbors (NYSE:CLH) last released its earnings results on Wednesday, October 28th. The business services provider reported $3.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.67. Clean Harbors had a return on equity of 18.27% and a net margin of 8.05%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm earned $2.21 EPS. The firm’s revenue was up 20.7% on a year-over-year basis. Analysts anticipate that Clean Harbors, Inc. will post 10.23 EPS for the current year.

Hedge Funds Weigh In On Clean Harbors

Several institutional investors and hedge funds have recently modified their holdings of CLH. Reyes Financial Architecture Inc. purchased a new position in Clean Harbors in the 3rd quarter worth approximately $31,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Clean Harbors in the second quarter valued at approximately $36,000. Elevation Wealth Partners LLC grew its position in shares of Clean Harbors by 317.6% in the third quarter. Elevation Wealth Partners LLC now owns 142 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 108 shares in the last quarter. Pension & Wealth Management Advisors Inc. purchased a new stake in shares of Clean Harbors in the third quarter valued at approximately $53,000. Finally, Root Financial Partners LLC increased its holdings in shares of Clean Harbors by 99.2% in the first quarter. Root Financial Partners LLC now owns 241 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.

Clean Harbors News Summary

Here are the key news stories impacting Clean Harbors this week:

• Positive Sentiment: Citigroup raised its price target to $379 from $378 and maintained a Buy rating, implying substantial upside from the roughly $295 share price cited in the report. Citigroup rating and price target
• Positive Sentiment: Director Karyn Polito bought 125 shares for about $39,354, increasing her stake by 3.03%. The purchase may be viewed as a modest vote of confidence from an insider. Insider purchase report
• Positive Sentiment: Recent coverage pointed to strong growth ahead. Clean Harbors’ latest quarter also provides a favorable backdrop: EPS of $3.93 and revenue of $1.87 billion both topped expectations, while revenue grew 20.7% year over year. Earnings call and growth outlook
• Neutral Sentiment: Another report cited a raised price target of $338, showing that analyst expectations vary, though the overall analyst consensus in the supplied coverage remained “Moderate Buy.” Price target report

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CLH. Wall Street Zen cut Clean Harbors from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Citigroup upped their target price on Clean Harbors from $378.00 to $379.00 and gave the company a “buy” rating in a research report on Monday. Robert W. Baird set a $375.00 price target on shares of Clean Harbors in a report on Thursday, October 29th. Bank of America set a $377.00 price target on shares of Clean Harbors and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, UBS Group upgraded shares of Clean Harbors from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $325.00 to $375.00 in a research note on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $365.29.

Clean Harbors Company Profile

Clean Harbors, Inc provides environmental, energy and industrial services to customers across North America. The company serves a broad range of industries, including manufacturing, government, utilities, energy and transportation, helping customers manage hazardous and non-hazardous materials, maintain industrial facilities and respond to environmental emergencies.

Its services include hazardous waste collection, transportation, treatment and disposal; incineration; recycling and waste-to-fuel programs; wastewater treatment; and used-oil collection and re-refining.