Daiwa Securities Group Inc. Buys 2,612 Shares of Clean Harbors, Inc. $CLH

Daiwa Securities Group Inc. raised its stake in Clean Harbors, Inc. (NYSE:CLH) by 7.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 38,124 shares of the business services provider’s stock after acquiring an additional 2,612 shares during the period. Daiwa Securities Group Inc.’s holdings in Clean Harbors were worth $8,939,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elyxium Wealth LLC bought a new stake in Clean Harbors in the fourth quarter valued at approximately $26,000. Larson Financial Group LLC lifted its position in Clean Harbors by 676.5% in the fourth quarter. Larson Financial Group LLC now owns 132 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 115 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Clean Harbors in the fourth quarter valued at approximately $34,000. True Wealth Design LLC lifted its position in Clean Harbors by 102.7% in the fourth quarter. True Wealth Design LLC now owns 152 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 77 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its position in Clean Harbors by 84.1% in the fourth quarter. Clearstead Advisors LLC now owns 254 shares of the business services provider’s stock valued at $60,000 after purchasing an additional 116 shares during the last quarter. Institutional investors own 90.43% of the company’s stock.

Insider Transactions at Clean Harbors

In related news, CEO Eric W. Gerstenberg sold 1,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $293.00, for a total value of $293,000.00. Following the sale, the chief executive officer directly owned 38,877 shares of the company’s stock, valued at $11,390,961. This represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren States sold 789 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $286.19, for a total value of $225,803.91. Following the completion of the sale, the director directly owned 11,359 shares in the company, valued at approximately $3,250,832.21. The trade was a 6.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 7,308 shares of company stock valued at $2,133,467 in the last three months. Company insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CLH has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on Clean Harbors from $309.00 to $313.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Stifel Nicolaus initiated coverage on Clean Harbors in a research report on Friday, May 29th. They issued a “buy” rating and a $337.00 price objective for the company. Oppenheimer boosted their price objective on Clean Harbors from $310.00 to $316.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Truist Financial boosted their price objective on Clean Harbors from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Finally, Citigroup upgraded Clean Harbors from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $302.00 to $346.00 in a research report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Clean Harbors currently has a consensus rating of “Moderate Buy” and an average price target of $323.23.

Clean Harbors Price Performance

Shares of CLH stock opened at $283.25 on Monday. The stock has a market cap of $14.97 billion, a price-to-earnings ratio of 38.38 and a beta of 0.87. The business’s fifty day moving average is $295.05 and its 200 day moving average is $271.14. Clean Harbors, Inc. has a twelve month low of $201.34 and a twelve month high of $316.98. The company has a quick ratio of 1.99, a current ratio of 2.34 and a debt-to-equity ratio of 0.99.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Clean Harbors had a return on equity of 14.37% and a net margin of 6.53%.The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 earnings per share. Research analysts expect that Clean Harbors, Inc. will post 8.5 EPS for the current fiscal year.

About Clean Harbors

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.