Koch Industries Inc. Boosts Holdings in Clean Harbors Inc (NYSE:CLH)
Koch Industries Inc. grew its stake in shares of Clean Harbors Inc (NYSE:CLH) by 108.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,488 shares of the business services provider’s stock after acquiring an additional 5,987 shares during the period. Koch Industries Inc.’s holdings in Clean Harbors were worth $561,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of CLH. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Clean Harbors by 96.3% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,277 shares of the business services provider’s stock worth $122,000 after purchasing an additional 1,117 shares in the last quarter. Assetmark Inc. purchased a new stake in Clean Harbors in the 4th quarter worth approximately $132,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Clean Harbors by 49.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,120 shares of the business services provider’s stock valued at $169,000 after buying an additional 1,039 shares during the period. Paloma Partners Management Co purchased a new stake in shares of Clean Harbors during the 4th quarter valued at $232,000. Finally, Verition Fund Management LLC acquired a new position in shares of Clean Harbors during the 4th quarter valued at $235,000. Institutional investors own 94.15% of the company’s stock.
Several research firms have recently weighed in on CLH. ValuEngine downgraded shares of Clean Harbors from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. UBS Group downgraded shares of Clean Harbors from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $63.00 price objective (down previously from $66.00) on shares of Clean Harbors in a research report on Thursday, March 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $65.00 price objective (down previously from $70.00) on shares of Clean Harbors in a research report on Thursday, March 1st. Finally, Oppenheimer downgraded shares of Clean Harbors from a “market perform” rating to an “outperform” rating and set a $62.00 price objective for the company. in a research report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Clean Harbors currently has a consensus rating of “Hold” and a consensus target price of $57.89.
Clean Harbors (NYSE:CLH) last posted its earnings results on Wednesday, May 2nd. The business services provider reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. Clean Harbors had a net margin of 3.64% and a return on equity of 1.72%. The firm had revenue of $749.80 million during the quarter, compared to analysts’ expectations of $732.88 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. Clean Harbors’s quarterly revenue was up 8.8% on a year-over-year basis. equities research analysts expect that Clean Harbors Inc will post 0.69 earnings per share for the current fiscal year.
In related news, EVP Mark G. Bouldin sold 2,519 shares of the stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $51.40, for a total transaction of $129,476.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric J. Dugas sold 900 shares of the company’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $52.76, for a total transaction of $47,484.00. Following the completion of the transaction, the senior vice president now owns 19,172 shares in the company, valued at approximately $1,011,514.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,518 shares of company stock valued at $7,606,184. 8.70% of the stock is owned by insiders.
About Clean Harbors
Clean Harbors, Inc provides environmental, energy, and industrial services in North America. It operates through Technical Services; Industrial and Field Services; Safety-Kleen; and Oil, Gas and Lodging Services segments. The company's Technical Services segment provides a range of hazardous material management services, including the packaging, collection, transportation, treatment, and disposal of hazardous and non-hazardous waste at its incinerator, landfill, wastewater, and other treatment facilities.
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