Longboard Asset Management LP Acquires New Position in Clean Harbors, Inc. (NYSE:CLH)

Longboard Asset Management LP acquired a new stake in shares of Clean Harbors, Inc. (NYSE:CLH) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 980 shares of the business services provider’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its stake in shares of Clean Harbors by 63.4% during the 3rd quarter. UMB Bank n.a. now owns 214 shares of the business services provider’s stock valued at $52,000 after buying an additional 83 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Clean Harbors during the 3rd quarter valued at $56,000. CENTRAL TRUST Co lifted its position in shares of Clean Harbors by 161.6% during the third quarter. CENTRAL TRUST Co now owns 259 shares of the business services provider’s stock worth $63,000 after acquiring an additional 160 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Clean Harbors by 42.6% in the third quarter. TD Private Client Wealth LLC now owns 291 shares of the business services provider’s stock worth $70,000 after acquiring an additional 87 shares during the period. Finally, Spire Wealth Management grew its position in shares of Clean Harbors by 396.7% in the fourth quarter. Spire Wealth Management now owns 298 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 238 shares in the last quarter. Institutional investors own 90.43% of the company’s stock.

Insider Buying and Selling

In other Clean Harbors news, Director Lauren States sold 308 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $239.04, for a total value of $73,624.32. Following the completion of the sale, the director now owns 12,226 shares of the company’s stock, valued at $2,922,503.04. This represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric W. Gerstenberg sold 6,051 shares of Clean Harbors 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 transaction, the chief executive officer now directly owns 55,657 shares in the company, valued at $13,937,625.94. This trade represents a 9.81 % 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. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CLH has been the topic of a number of recent research reports. Stifel Nicolaus increased their price objective on Clean Harbors from $270.00 to $290.00 and gave the stock 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. Robert W. Baird reduced their price objective on shares of Clean Harbors from $300.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. StockNews.com cut shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, TD Cowen started coverage on shares of Clean Harbors in a research report on Friday, December 6th. They set a “buy” rating and a $325.00 price target for the company. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Clean Harbors has an average rating of “Buy” and a consensus price target of $269.44.

Clean Harbors Price Performance

Shares of NYSE:CLH opened at $234.40 on Tuesday. The company’s fifty day moving average price is $239.41 and its 200-day moving average price is $242.25. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.10 and a quick ratio of 1.76. The firm has a market capitalization of $12.63 billion, a price-to-earnings ratio of 30.52 and a beta of 1.24. Clean Harbors, Inc. has a one year low of $169.62 and a one year high of $267.11.

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.