Meridian Wealth Management LLC Makes New $237,000 Investment in Clean Harbors, Inc. (NYSE:CLH)

Meridian Wealth Management LLC purchased a new stake in Clean Harbors, Inc. (NYSE:CLH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 981 shares of the business services provider’s stock, valued at approximately $237,000.

Several other hedge funds also recently modified their holdings of the company. Icon Wealth Advisors LLC increased its holdings in Clean Harbors by 513.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,288 shares of the business services provider’s stock worth $795,000 after purchasing an additional 2,752 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Clean Harbors by 5.8% during the third quarter. Citigroup Inc. now owns 233,619 shares of the business services provider’s stock worth $56,468,000 after purchasing an additional 12,878 shares during the last quarter. Otter Creek Advisors LLC increased its stake in shares of Clean Harbors by 4.2% in the third quarter. Otter Creek Advisors LLC now owns 16,055 shares of the business services provider’s stock valued at $3,881,000 after buying an additional 647 shares during the period. Intech Investment Management LLC raised its holdings in Clean Harbors by 113.5% in 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 buying an additional 13,721 shares during the last quarter. Finally, Anthracite Investment Company Inc. acquired a new stake in Clean Harbors during the 3rd quarter worth approximately $1,692,000. Institutional investors and hedge funds own 90.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CLH. The Goldman Sachs Group upped their price target on shares of Clean Harbors from $223.00 to $256.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. 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 report on Thursday, October 31st. Needham & Company LLC reduced their price target on Clean Harbors from $274.00 to $268.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. StockNews.com downgraded Clean Harbors from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Oppenheimer upped their target price on Clean Harbors from $252.00 to $270.00 and gave the company an “outperform” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $254.33.

Insider Activity

In other news, Director Lauren States sold 309 shares of Clean Harbors stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $244.09, for a total transaction of $75,423.81. Following the completion of the transaction, the director now directly owns 13,458 shares in the company, valued at $3,284,963.22. This trade represents a 2.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Louis Battles sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $245.74, for a total value of $2,457,400.00. Following the sale, the chief executive officer now directly owns 77,136 shares of the company’s stock, valued at $18,955,400.64. This represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,586 shares of company stock worth $4,351,841 in the last three months. Company insiders own 5.90% of the company’s stock.

Clean Harbors Stock Up 2.6 %

Shares of Clean Harbors stock opened at $259.18 on Tuesday. The stock’s 50-day moving average is $250.15 and its 200 day moving average is $235.60. Clean Harbors, Inc. has a one year low of $158.42 and a one year high of $267.11. The firm has a market cap of $13.97 billion, a price-to-earnings ratio of 33.75 and a beta of 1.20. 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 (NYSE:CLH) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.12 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.03). The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the business earned $1.68 EPS. Equities research analysts anticipate that Clean Harbors, Inc. will post 7.21 EPS for the current year.

Clean Harbors Company 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.