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

Meridian Wealth Management LLC bought a new stake in shares of Clean Harbors, Inc. (NYSE:CLH) in the third quarter, Holdings Channel reports. The fund bought 981 shares of the business services provider’s stock, valued at approximately $237,000.

Several other large investors also recently modified their holdings of CLH. Clearbridge Investments LLC grew its holdings in Clean Harbors by 30.6% during the second quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock valued at $239,361,000 after purchasing an additional 248,240 shares during the period. Lazard Freres Gestion S.A.S. purchased a new position in shares of Clean Harbors during the 2nd quarter valued at $42,968,000. Marshall Wace LLP grew its stake in shares of Clean Harbors by 20.3% during the 2nd quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock worth $121,505,000 after acquiring an additional 90,756 shares during the period. Handelsbanken Fonder AB increased its holdings in Clean Harbors by 12.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 570,826 shares of the business services provider’s stock worth $137,974,000 after acquiring an additional 63,800 shares during the last quarter. Finally, Swedbank AB bought a new stake in Clean Harbors in the 1st quarter valued at about $12,079,000. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Insider Activity

In other Clean Harbors news, CEO Eric W. Gerstenberg sold 6,051 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $250.42, for a total transaction of $1,515,291.42. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Louis Battles sold 10,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 77,136 shares of the company’s stock, valued at $18,955,400.64. The trade was a 11.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,586 shares of company stock valued at $4,351,841. 5.90% of the stock is currently owned by company insiders.

Clean Harbors Stock Performance

Clean Harbors stock opened at $259.18 on Tuesday. The firm has a fifty day simple moving average of $250.15 and a two-hundred day simple moving average of $235.60. Clean Harbors, Inc. has a twelve month low of $158.42 and a twelve month high of $267.11. The company has a market capitalization of $13.97 billion, a PE ratio of 33.75 and a beta of 1.20. The company has a quick ratio of 1.76, a current ratio of 2.10 and a debt-to-equity ratio of 1.10.

Clean Harbors (NYSE:CLH) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.03). Clean Harbors had a net margin of 7.19% and a return on equity of 17.51%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the company earned $1.68 earnings per share. The company’s revenue was up 12.0% compared to the same quarter last year. Research analysts expect that Clean Harbors, Inc. will post 7.21 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on CLH. Needham & Company LLC reduced their target price on shares of Clean Harbors from $274.00 to $268.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. StockNews.com lowered shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st. Truist Financial increased their target price on Clean Harbors from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. 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. Finally, Oppenheimer lifted their price objective on Clean Harbors from $252.00 to $270.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $254.33.

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.