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

Reliant Investment Management LLC acquired a new stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,060 shares of the business services provider's stock, valued at approximately $4,386,000.

A number of other institutional investors also recently modified their holdings of CLH. Mountain Pacific Investment Advisers LLC raised its position in Clean Harbors by 4.5% in the fourth quarter. Mountain Pacific Investment Advisers LLC now owns 99,039 shares of the business services provider's stock valued at $22,793,000 after purchasing an additional 4,240 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Clean Harbors by 30.8% during the fourth quarter. UMB Bank n.a. now owns 280 shares of the business services provider's stock worth $64,000 after purchasing an additional 66 shares during the period. Avanza Fonder AB bought a new stake in shares of Clean Harbors in the fourth quarter worth $191,000. Border to Coast Pensions Partnership Ltd acquired a new stake in Clean Harbors in the fourth quarter valued at $4,600,000. Finally, Redhawk Wealth Advisors Inc. increased its stake in shares of Clean Harbors by 6.7% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 12,230 shares of the business services provider's stock valued at $2,815,000 after buying an additional 765 shares during the period. Institutional investors and hedge funds own 90.43% of the company's stock.

Insiders Place Their Bets

In related news, Director Lauren States sold 308 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $239.04, for a total value of $73,624.32. Following the completion of the transaction, the director now directly owns 12,226 shares in the company, valued at approximately $2,922,503.04. The trade was a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Speights sold 610 shares of the firm's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $240.14, for a total value of $146,485.40. Following the sale, the insider now owns 39,160 shares in the company, valued at $9,403,882.40. The trade was a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,446 shares of company stock worth $2,112,800 in the last three months. 5.90% of the stock is currently owned by corporate insiders.

Clean Harbors Stock Performance

Shares of NYSE:CLH traded up $5.32 during midday trading on Tuesday, reaching $246.36. The company had a trading volume of 380,268 shares, compared to its average volume of 342,047. Clean Harbors, Inc. has a 52-week low of $167.28 and a 52-week high of $267.11. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.10. The company's 50 day moving average price is $242.05 and its 200 day moving average price is $241.40. The stock has a market cap of $13.28 billion, a P/E ratio of 32.08 and a beta of 1.24.

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 (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.03). Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. 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 EPS. The company's revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Clean Harbors, Inc. will post 7.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on CLH shares. Robert W. Baird decreased their target price on shares of Clean Harbors from $300.00 to $285.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. Truist Financial lifted their target price 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. Stifel Nicolaus lifted their price objective on Clean Harbors from $270.00 to $290.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. TD Cowen assumed coverage on Clean Harbors in a research note on Friday, December 6th. They issued a "buy" rating and a $325.00 price objective on the stock. Finally, Oppenheimer lifted their target price on Clean Harbors from $255.00 to $256.00 and gave the stock an "outperform" rating in a report on Monday, January 13th. One equities research 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 stock has an average rating of "Buy" and an average price target of $269.44.

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.