Otter Creek Advisors LLC Makes New $3.49 Million Investment in Clean Harbors, Inc. (NYSE:CLH)

Otter Creek Advisors LLC purchased a new stake in shares of Clean Harbors, Inc. (NYSE:CLH) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,408 shares of the business services provider’s stock, valued at approximately $3,485,000. Clean Harbors accounts for about 2.3% of Otter Creek Advisors LLC’s holdings, making the stock its 22nd largest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Moody National Bank Trust Division grew its holdings in Clean Harbors by 1.0% during the 2nd quarter. Moody National Bank Trust Division now owns 4,843 shares of the business services provider’s stock worth $1,095,000 after acquiring an additional 47 shares in the last quarter. Quent Capital LLC increased its holdings in Clean Harbors by 6.9% during the second quarter. Quent Capital LLC now owns 725 shares of the business services provider’s stock valued at $164,000 after buying an additional 47 shares during the period. Fifth Third Bancorp raised its stake in Clean Harbors by 10.5% in the second quarter. Fifth Third Bancorp now owns 528 shares of the business services provider’s stock worth $119,000 after buying an additional 50 shares in the last quarter. MJP Associates Inc. ADV lifted its holdings in Clean Harbors by 1.1% during the second quarter. MJP Associates Inc. ADV now owns 4,734 shares of the business services provider’s stock worth $1,071,000 after buying an additional 51 shares during the period. Finally, GAMMA Investing LLC boosted its position in Clean Harbors by 47.9% during the 1st quarter. GAMMA Investing LLC now owns 173 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 56 shares in the last quarter. 90.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Clean Harbors

In other news, insider Alan S. Mckim sold 50,000 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $215.51, for a total value of $10,775,500.00. Following the sale, the insider now owns 2,494,211 shares in the company, valued at $537,527,412.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

CLH has been the subject of a number of analyst reports. Robert W. Baird upped their price objective on Clean Harbors from $242.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. StockNews.com cut shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a report on Saturday. Truist Financial lifted their price objective on shares of Clean Harbors from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Needham & Company LLC increased their target price on shares of Clean Harbors from $235.00 to $274.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group lifted their price target on shares of Clean Harbors from $223.00 to $256.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Clean Harbors presently has a consensus rating of “Buy” and a consensus price target of $242.40.

Clean Harbors Trading Down 1.9 %

NYSE:CLH opened at $231.76 on Friday. The company has a market capitalization of $12.50 billion, a P/E ratio of 33.54 and a beta of 1.20. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.14. The firm has a fifty day simple moving average of $232.63 and a 200-day simple moving average of $213.95. Clean Harbors, Inc. has a 12 month low of $132.92 and a 12 month high of $247.24.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.25. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Clean Harbors had a return on equity of 17.12% and a net margin of 6.97%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the business posted $2.13 earnings per share. On average, equities research analysts anticipate that Clean Harbors, Inc. will post 7.65 earnings per share for the current year.

Clean Harbors 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.