Sycomore Asset Management Raises Stake in Clean Harbors, Inc. (NYSE:CLH)

Sycomore Asset Management increased its position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 87.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,437 shares of the business services provider's stock after purchasing an additional 14,677 shares during the quarter. Sycomore Asset Management owned 0.06% of Clean Harbors worth $7,648,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CLH. FMR LLC lifted its holdings in shares of Clean Harbors by 12.0% during the third quarter. FMR LLC now owns 1,747,215 shares of the business services provider's stock worth $422,319,000 after purchasing an additional 187,140 shares during the period. Wellington Management Group LLP lifted its holdings in Clean Harbors by 3.0% in the third quarter. Wellington Management Group LLP now owns 3,451,751 shares of the business services provider's stock valued at $834,323,000 after acquiring an additional 100,394 shares during the period. Point72 Asset Management L.P. acquired a new position in Clean Harbors in the third quarter valued at approximately $17,258,000. Franklin Resources Inc. lifted its holdings in Clean Harbors by 24.2% in the third quarter. Franklin Resources Inc. now owns 205,295 shares of the business services provider's stock valued at $53,313,000 after acquiring an additional 39,976 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Clean Harbors by 108.1% in the third quarter. SG Americas Securities LLC now owns 2,824 shares of the business services provider's stock valued at $683,000 after acquiring an additional 37,817 shares during the period. Institutional investors and hedge funds own 90.43% of the company's stock.

Clean Harbors Price Performance

Shares of CLH stock traded down $0.76 during trading hours on Thursday, hitting $230.91. 396,695 shares of the company's stock were exchanged, compared to its average volume of 314,945. The company has a quick ratio of 1.76, a current ratio of 2.10 and a debt-to-equity ratio of 1.10. The firm has a market cap of $12.45 billion, a P/E ratio of 30.07 and a beta of 1.24. The firm has a 50 day moving average of $235.92 and a two-hundred day moving average of $242.40. Clean Harbors, Inc. has a fifty-two week low of $176.02 and a fifty-two week high of $267.11.

Insider Buying and Selling

In related news, CEO Eric W. Gerstenberg sold 6,051 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $250.42, for a total transaction of $1,515,291.42. Following the completion of the sale, the chief executive officer now directly owns 55,657 shares in the company, valued at approximately $13,937,625.94. The trade was a 9.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian P. Weber sold 861 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $261.31, for a total value of $224,987.91. Following the sale, the executive vice president now owns 59,346 shares of the company's stock, valued at $15,507,703.26. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,836 shares of company stock worth $1,966,314. 5.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CLH shares. Stifel Nicolaus boosted their price target on Clean Harbors from $270.00 to $290.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Needham & Company LLC reissued a "buy" rating and issued a $268.00 price target on shares of Clean Harbors in a report on Thursday, January 16th. StockNews.com downgraded Clean Harbors from a "strong-buy" rating to a "buy" rating in a report on Thursday, October 31st. TD Cowen started coverage on Clean Harbors in a report on Friday, December 6th. They issued a "buy" rating and a $325.00 price target for the company. Finally, Truist Financial boosted their price target on Clean Harbors from $260.00 to $280.00 and gave the company a "buy" rating in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $269.44.

Clean Harbors 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.