Adage Capital Partners GP L.L.C. Acquires Shares of 97,000 Clean Harbors, Inc. (NYSE:CLH)

Adage Capital Partners GP L.L.C. bought a new position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 97,000 shares of the business services provider's stock, valued at approximately $22,324,000. Adage Capital Partners GP L.L.C. owned about 0.18% of Clean Harbors at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Clean Harbors by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,659,064 shares of the business services provider's stock valued at $1,072,237,000 after purchasing an additional 11,814 shares during the period. Wellington Management Group LLP grew its holdings in shares of Clean Harbors by 17.2% during the fourth quarter. Wellington Management Group LLP now owns 4,044,092 shares of the business services provider's stock worth $930,707,000 after buying an additional 592,341 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in Clean Harbors by 72.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,658,128 shares of the business services provider's stock valued at $381,602,000 after acquiring an additional 697,630 shares during the last quarter. Bessemer Group Inc. raised its stake in Clean Harbors by 0.9% during the 4th quarter. Bessemer Group Inc. now owns 1,095,163 shares of the business services provider's stock valued at $252,042,000 after acquiring an additional 9,595 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Clean Harbors by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 676,894 shares of the business services provider's stock worth $155,784,000 after acquiring an additional 15,888 shares during the period. 90.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Clean Harbors

In related news, CFO Eric J. Dugas purchased 1,050 shares of the company's stock in a transaction on Monday, March 10th. The stock was bought at an average price of $191.38 per share, with a total value of $200,949.00. Following the completion of the transaction, the chief financial officer now owns 24,238 shares of the company's stock, valued at approximately $4,638,668.44. This represents a 4.53 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Speights sold 2,725 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $190.44, for a total value of $518,949.00. Following the completion of the sale, the insider now owns 40,008 shares in the company, valued at $7,619,123.52. This represents a 6.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CLH shares. BMO Capital Markets cut their price target on Clean Harbors from $284.00 to $270.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. UBS Group cut their price objective on shares of Clean Harbors from $240.00 to $205.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Truist Financial lowered their target price on shares of Clean Harbors from $270.00 to $250.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Stifel Nicolaus cut their price target on shares of Clean Harbors from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Finally, Oppenheimer lowered their price objective on Clean Harbors from $256.00 to $254.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $258.40.

Clean Harbors Stock Performance

NYSE CLH opened at $212.25 on Friday. The business has a 50 day moving average price of $201.24 and a 200 day moving average price of $228.70. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.21 and a quick ratio of 1.76. The company has a market capitalization of $11.50 billion, a P/E ratio of 28.61 and a beta of 1.11. Clean Harbors, Inc. has a 1-year low of $178.29 and a 1-year high of $267.11.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The business services provider reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.19. The business had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.43 billion. Clean Harbors had a return on equity of 16.33% and a net margin of 6.83%. The business's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $1.82 earnings per share. Sell-side analysts expect that Clean Harbors, Inc. will post 7.89 EPS for the current fiscal year.

About Clean Harbors

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.

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