Otter Creek Advisors LLC Has $3.88 Million Stake in Clean Harbors, Inc. (NYSE:CLH)

Otter Creek Advisors LLC raised its stake in shares of Clean Harbors, Inc. (NYSE:CLH) by 4.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 16,055 shares of the business services provider’s stock after purchasing an additional 647 shares during the period. Clean Harbors makes up approximately 2.5% of Otter Creek Advisors LLC’s portfolio, making the stock its 25th biggest holding. Otter Creek Advisors LLC’s holdings in Clean Harbors were worth $3,881,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Intech Investment Management LLC boosted its stake in Clean Harbors by 113.5% during the 3rd quarter. Intech Investment Management LLC now owns 25,807 shares of the business services provider’s stock valued at $6,238,000 after purchasing an additional 13,721 shares during the last quarter. Anthracite Investment Company Inc. acquired a new position in Clean Harbors during the 3rd quarter valued at about $1,692,000. Segall Bryant & Hamill LLC boosted its stake in shares of Clean Harbors by 2.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 65,573 shares of the business services provider’s stock worth $15,850,000 after buying an additional 1,390 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Clean Harbors in the 3rd quarter worth approximately $56,000. Finally, Fifth Third Wealth Advisors LLC boosted its stake in shares of Clean Harbors by 7.3% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,801 shares of the business services provider’s stock worth $435,000 after buying an additional 122 shares during the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CLH. Robert W. Baird cut their target price on Clean Harbors from $300.00 to $285.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. StockNews.com downgraded Clean Harbors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st. Truist Financial upped their price objective on Clean Harbors from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their price objective on Clean Harbors from $223.00 to $256.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $275.00 price objective (up previously from $240.00) on shares of Clean Harbors in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Clean Harbors currently has an average rating of “Buy” and a consensus price target of $254.33.

Clean Harbors Trading Up 1.0 %

Shares of CLH stock opened at $250.03 on Friday. The company’s fifty day simple moving average is $249.68 and its two-hundred day simple moving average is $234.66. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.10 and a quick ratio of 1.76. Clean Harbors, Inc. has a 1 year low of $158.42 and a 1 year high of $267.11. The stock has a market capitalization of $13.48 billion, a price-to-earnings ratio of 32.56 and a beta of 1.20.

Clean Harbors (NYSE:CLH) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.03). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. Clean Harbors had a net margin of 7.19% and a return on equity of 17.51%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.68 EPS. As a group, analysts anticipate that Clean Harbors, Inc. will post 7.29 earnings per share for the current year.

Insider Transactions at Clean Harbors

In related news, CEO Eric W. Gerstenberg sold 6,051 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $250.42, for a total value of $1,515,291.42. Following the transaction, the chief executive officer now owns 55,657 shares of the company’s stock, valued at $13,937,625.94. This represents a 9.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren States sold 308 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $260.74, for a total value of $80,307.92. Following the completion of the transaction, the director now directly owns 13,150 shares in the company, valued at approximately $3,428,731. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,586 shares of company stock valued at $4,351,841. 5.90% of the stock is currently owned by company insiders.

About Clean Harbors

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.