Okabena Investment Services Inc. Acquires New Holdings in Clean Harbors, Inc. $CLH

Okabena Investment Services Inc. bought a new position in Clean Harbors, Inc. (NYSE:CLH) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,240 shares of the business services provider’s stock, valued at approximately $1,449,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CLH. Allworth Financial LP boosted its holdings in Clean Harbors by 22.8% in the 2nd quarter. Allworth Financial LP now owns 232 shares of the business services provider’s stock worth $54,000 after buying an additional 43 shares during the period. MAI Capital Management raised its stake in Clean Harbors by 6.1% during the second quarter. MAI Capital Management now owns 839 shares of the business services provider’s stock valued at $194,000 after purchasing an additional 48 shares in the last quarter. HB Wealth Management LLC raised its position in shares of Clean Harbors by 5.2% during the 3rd quarter. HB Wealth Management LLC now owns 990 shares of the business services provider’s stock valued at $230,000 after buying an additional 49 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Clean Harbors by 0.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 9,460 shares of the business services provider’s stock valued at $2,197,000 after purchasing an additional 49 shares during the period. Finally, SkyView Investment Advisors LLC raised its stake in shares of Clean Harbors by 2.3% in the second quarter. SkyView Investment Advisors LLC now owns 2,378 shares of the business services provider’s stock valued at $549,000 after acquiring an additional 53 shares during the period. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Clean Harbors Price Performance

Shares of NYSE:CLH opened at $293.67 on Friday. Clean Harbors, Inc. has a twelve month low of $178.29 and a twelve month high of $294.94. The company has a current ratio of 2.33, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The company has a market cap of $15.54 billion, a PE ratio of 40.34 and a beta of 0.96. The company’s 50 day moving average is $260.22 and its 200 day moving average is $241.80.

Clean Harbors (NYSE:CLH) last released its quarterly earnings data on Wednesday, February 18th. The business services provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.03. Clean Harbors had a net margin of 6.48% and a return on equity of 14.47%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts forecast that Clean Harbors, Inc. will post 7.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CLH shares. TD Cowen reiterated a “buy” rating on shares of Clean Harbors in a research report on Thursday, February 19th. Barclays upped their target price on Clean Harbors from $230.00 to $280.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Truist Financial increased their target price on shares of Clean Harbors from $250.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Robert W. Baird set a $300.00 price target on Clean Harbors in a report on Thursday, February 19th. Finally, Needham & Company LLC boosted their target price on shares of Clean Harbors from $290.00 to $308.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $292.18.

Insider Buying and Selling

In related news, EVP Sharon M. Gabriel sold 3,540 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $282.07, for a total transaction of $998,527.80. Following the sale, the executive vice president directly owned 23,193 shares of the company’s stock, valued at $6,542,049.51. This trade represents a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John R. Welch sold 750 shares of Clean Harbors stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $273.07, for a total value of $204,802.50. Following the transaction, the director owned 10,237 shares of the company’s stock, valued at approximately $2,795,417.59. This represents a 6.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 7,679 shares of company stock valued at $2,132,403 over the last quarter. 5.60% of the stock is currently owned by company insiders.

About Clean Harbors

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.