CI Investments Inc. Sells 20,759 Shares of Clean Harbors, Inc. $CLH

CI Investments Inc. reduced its position in shares of Clean Harbors, Inc. (NYSE:CLH) by 50.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,260 shares of the business services provider’s stock after selling 20,759 shares during the quarter. CI Investments Inc.’s holdings in Clean Harbors were worth $5,809,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new position in Clean Harbors during the fourth quarter worth $26,000. Quattro Advisors LLC acquired a new position in shares of Clean Harbors during the fourth quarter valued at about $26,000. Parkside Financial Bank & Trust increased its position in shares of Clean Harbors by 205.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 119 shares of the business services provider’s stock worth $28,000 after acquiring an additional 80 shares in the last quarter. MidFirst Bank bought a new stake in shares of Clean Harbors during the fourth quarter worth about $28,000. Finally, Larson Financial Group LLC boosted its stake in Clean Harbors by 676.5% during the 4th 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. Institutional investors and hedge funds own 90.43% of the company’s stock.

Analyst Ratings Changes

CLH has been the topic of a number of recent research reports. Oppenheimer raised their target price on Clean Harbors from $310.00 to $316.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Needham & Company LLC raised their price objective on Clean Harbors from $308.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Clean Harbors in a report on Tuesday, July 7th. BMO Capital Markets increased their target price on shares of Clean Harbors from $340.00 to $342.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Finally, Truist Financial upped their price objective on shares of Clean Harbors from $325.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday. 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 company’s stock. According to data from MarketBeat, Clean Harbors currently has an average rating of “Moderate Buy” and an average price target of $327.92.

Clean Harbors Stock Down 0.0%

Shares of NYSE CLH opened at $306.18 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.34 and a quick ratio of 1.99. The stock has a market capitalization of $16.18 billion, a PE ratio of 41.49 and a beta of 0.86. Clean Harbors, Inc. has a one year low of $201.34 and a one year high of $316.98. The business’s fifty day moving average price is $293.43 and its 200-day moving average price is $286.26.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 6.53% and a return on equity of 14.37%. Clean Harbors’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 EPS. On average, equities research analysts anticipate that Clean Harbors, Inc. will post 8.59 EPS for the current year.

Insider Transactions at Clean Harbors

In other Clean Harbors news, Director Lauren States sold 789 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $286.19, for a total transaction of $225,803.91. Following the sale, the director owned 11,359 shares in the company, valued at $3,250,832.21. This represents a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.00% of the stock is owned by insiders.

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.