Point72 Hong Kong Ltd Invests $4.63 Million in Clean Harbors, Inc. (NYSE:CLH)

Point72 Hong Kong Ltd bought a new position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,153 shares of the business services provider's stock, valued at approximately $4,629,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB grew its holdings in shares of Clean Harbors by 83.3% in the 2nd quarter. Swedbank AB now owns 110,000 shares of the business services provider's stock valued at $24,876,000 after acquiring an additional 50,000 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Clean Harbors by 17.1% during the second quarter. Driehaus Capital Management LLC now owns 123,813 shares of the business services provider's stock worth $28,000,000 after acquiring an additional 18,058 shares in the last quarter. Bridges Investment Management Inc. acquired a new position in Clean Harbors during the second quarter valued at approximately $729,000. Advisor Resource Council bought a new position in Clean Harbors in the third quarter valued at approximately $926,000. Finally, Northcape Capital Pty Ltd acquired a new position in shares of Clean Harbors during the 3rd quarter worth approximately $2,324,000. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CLH has been the subject of several recent analyst reports. Needham & Company LLC cut their price objective on Clean Harbors from $274.00 to $268.00 and set a "buy" rating for the company in a report on Thursday, October 31st. Oppenheimer increased 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. Truist Financial boosted their price objective on shares of Clean Harbors from $260.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Robert W. Baird dropped their target price 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. Finally, StockNews.com cut Clean Harbors from a "strong-buy" rating to a "buy" rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $254.33.

Insider Buying and Selling at Clean Harbors

In other Clean Harbors news, EVP Brian P. Weber sold 861 shares of the firm's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $261.31, for a total value of $224,987.91. Following the transaction, the executive vice president now directly owns 59,346 shares of the company's stock, valued at $15,507,703.26. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Louis Battles sold 10,000 shares of the business's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $245.74, for a total transaction of $2,457,400.00. Following the completion of the transaction, the chief executive officer now owns 77,136 shares of the company's stock, valued at $18,955,400.64. The trade was a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,447 shares of company stock valued at $4,576,829 in the last quarter. Company insiders own 5.90% of the company's stock.

Clean Harbors Stock Performance

Shares of NYSE CLH traded up $2.41 during trading hours on Friday, reaching $260.09. 186,431 shares of the stock were exchanged, compared to its average volume of 316,878. The stock's fifty day simple moving average is $251.34 and its 200 day simple moving average is $236.74. The firm has a market capitalization of $14.02 billion, a price-to-earnings ratio of 33.87 and a beta of 1.20. Clean Harbors, Inc. has a 52 week low of $158.42 and a 52 week high of $267.11. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.76 and a current ratio of 2.10.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates of $2.15 by ($0.03). Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the business posted $1.68 EPS. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. Sell-side analysts predict that Clean Harbors, Inc. will post 7.21 EPS for the current 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.