Hilton Capital Management LLC Trims Stake in Clean Harbors, Inc. (NYSE:CLH)

Hilton Capital Management LLC reduced its position in Clean Harbors, Inc. (NYSE:CLH) by 13.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,954 shares of the business services provider’s stock after selling 2,117 shares during the quarter. Hilton Capital Management LLC’s holdings in Clean Harbors were worth $3,373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Edgestream Partners L.P. boosted its stake in shares of Clean Harbors by 15.2% during the first quarter. Edgestream Partners L.P. now owns 3,813 shares of the business services provider’s stock valued at $768,000 after purchasing an additional 502 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Clean Harbors by 7.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,631 shares of the business services provider’s stock valued at $328,000 after buying an additional 111 shares during the last quarter. Seven Eight Capital LP purchased a new position in shares of Clean Harbors in the 1st quarter worth approximately $889,000. CANADA LIFE ASSURANCE Co lifted its position in Clean Harbors by 0.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 32,415 shares of the business services provider’s stock valued at $6,528,000 after acquiring an additional 234 shares during the last quarter. Finally, Ossiam grew its holdings in Clean Harbors by 370.7% in the first quarter. Ossiam now owns 25,600 shares of the business services provider’s stock worth $5,154,000 after purchasing an additional 20,161 shares during the last quarter. 90.43% of the stock is currently owned by institutional investors.

Clean Harbors Stock Performance

NYSE:CLH opened at $246.62 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.10. The company has a market cap of $13.29 billion, a P/E ratio of 32.11 and a beta of 1.20. The company’s 50-day moving average price is $249.34 and its 200-day moving average price is $234.46. Clean Harbors, Inc. has a twelve month low of $158.42 and a twelve month high of $267.11.

Clean Harbors (NYSE:CLH) last released 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 analyst estimates of $1.51 billion. Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. Clean Harbors’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.68 earnings per share. On average, sell-side analysts forecast that Clean Harbors, Inc. will post 7.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CLH. Oppenheimer upped their price target on shares of Clean Harbors from $252.00 to $270.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. StockNews.com lowered Clean Harbors from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird lowered their price target on shares of Clean Harbors from $300.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Truist Financial upped their target price on Clean Harbors from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their price target on Clean Harbors from $223.00 to $256.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $254.33.

Insider Activity at Clean Harbors

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

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.