Verition Fund Management LLC Decreases Holdings in Clean Harbors, Inc. (NYSE:CLH)

Verition Fund Management LLC reduced its position in Clean Harbors, Inc. (NYSE:CLHGet Rating) by 65.7% during the first quarter, HoldingsChannel.com reports. The firm owned 8,192 shares of the business services provider’s stock after selling 15,708 shares during the period. Verition Fund Management LLC’s holdings in Clean Harbors were worth $915,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CLH. Bank of America Corp DE raised its position in Clean Harbors by 7.1% in the 4th quarter. Bank of America Corp DE now owns 49,659 shares of the business services provider’s stock worth $4,954,000 after purchasing an additional 3,284 shares during the period. HighTower Advisors LLC raised its position in Clean Harbors by 12.3% in the 4th quarter. HighTower Advisors LLC now owns 4,197 shares of the business services provider’s stock worth $419,000 after purchasing an additional 460 shares during the period. JPMorgan Chase & Co. raised its position in Clean Harbors by 37.6% in the 4th quarter. JPMorgan Chase & Co. now owns 206,919 shares of the business services provider’s stock worth $20,645,000 after purchasing an additional 56,503 shares during the period. Charles Schwab Investment Management Inc. raised its position in Clean Harbors by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 522,098 shares of the business services provider’s stock worth $52,090,000 after purchasing an additional 5,128 shares during the period. Finally, Alberta Investment Management Corp purchased a new stake in Clean Harbors in the 4th quarter worth about $839,000. 88.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CLH shares. BMO Capital Markets increased their price objective on shares of Clean Harbors from $104.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. DA Davidson raised their target price on shares of Clean Harbors to $150.00 in a research report on Tuesday, August 9th. Raymond James raised their target price on shares of Clean Harbors from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 4th. StockNews.com raised shares of Clean Harbors from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 4th. Finally, Stifel Nicolaus raised their target price on shares of Clean Harbors from $127.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, September 2nd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $139.14.

Insider Activity

In other news, EVP Brian P. Weber sold 2,003 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $122.42, for a total transaction of $245,207.26. Following the transaction, the executive vice president now directly owns 62,103 shares in the company, valued at $7,602,649.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Clean Harbors news, EVP Brian P. Weber sold 2,003 shares of the firm’s stock in a transaction that occurred on 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 $7,602,649.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Andrea Robertson sold 1,095 shares of the firm’s stock in a transaction that occurred on 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. Insiders own 6.60% of the company’s stock.

Clean Harbors Price Performance

NYSE CLH opened at $115.70 on Thursday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.66 and a current ratio of 1.94. The firm’s 50 day moving average price is $110.07 and its 200-day moving average price is $102.08. Clean Harbors, Inc. has a 52-week low of $81.56 and a 52-week high of $124.49. The company has a market cap of $6.26 billion, a PE ratio of 20.51 and a beta of 1.43.

Clean Harbors (NYSE:CLHGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the firm earned $1.19 earnings per share. The company’s quarterly revenue was up 46.8% on a year-over-year basis. Sell-side analysts forecast that Clean Harbors, Inc. will post 6.53 EPS 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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Institutional Ownership by Quarter for Clean Harbors (NYSE:CLH)

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