Ieq Capital LLC Invests $699,000 in Clean Harbors, Inc. $CLH

Ieq Capital LLC purchased a new stake in shares of Clean Harbors, Inc. (NYSE:CLH) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,341 shares of the business services provider’s stock, valued at approximately $699,000.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Clean Harbors in the 2nd quarter worth $1,516,521,000. Janus Henderson Group PLC increased its stake in shares of Clean Harbors by 10.0% during the fourth quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider’s stock valued at $557,146,000 after buying an additional 215,659 shares during the period. State Street Corp raised its holdings in shares of Clean Harbors by 0.8% in the third quarter. State Street Corp now owns 1,515,621 shares of the business services provider’s stock valued at $351,958,000 after acquiring an additional 12,452 shares in the last quarter. Bessemer Group Inc. lifted its stake in Clean Harbors by 1.8% in the first quarter. Bessemer Group Inc. now owns 932,027 shares of the business services provider’s stock worth $267,239,000 after acquiring an additional 16,747 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Clean Harbors by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 917,779 shares of the business services provider’s stock worth $215,247,000 after acquiring an additional 11,020 shares during the period. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Clean Harbors Stock Down 0.6%

NYSE:CLH opened at $311.88 on Friday. Clean Harbors, Inc. has a fifty-two week low of $201.34 and a fifty-two week high of $335.94. The stock has a market capitalization of $16.46 billion, a P/E ratio of 37.85, a P/E/G ratio of 2.02 and a beta of 0.86. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.80 and a current ratio of 2.13. The company’s 50-day simple moving average is $307.08 and its 200-day simple moving average is $296.18.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.41. Clean Harbors had a net margin of 7.03% and a return on equity of 15.65%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the firm earned $2.36 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts anticipate that Clean Harbors, Inc. will post 9.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CLH. TD Cowen boosted their price target on shares of Clean Harbors from $335.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Citigroup increased their price objective on shares of Clean Harbors from $349.00 to $376.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. The Goldman Sachs Group reissued a “neutral” rating on shares of Clean Harbors in a research note on Wednesday, July 29th. Wall Street Zen upgraded Clean Harbors from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Needham & Company LLC increased their target price on Clean Harbors from $325.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $354.57.

Insiders Place Their Bets

In related news, CEO Eric W. Gerstenberg sold 2,500 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $321.34, for a total transaction of $803,350.00. Following the transaction, the chief executive officer directly owned 56,793 shares in the company, valued at $18,249,862.62. The trade was a 4.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Andrea Robertson sold 789 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $314.01, for a total value of $247,753.89. Following the transaction, the director directly owned 8,979 shares in the company, valued at $2,819,495.79. This represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.00% of the company’s stock.

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.