Short-term stake in Clean Harbors, Inc. (NYSE:CLH) declines 17.0%

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Clean Harbors, Inc. (NYSE:CLH – Get Rating) saw a sharp decline in short-term interest in October. As of October 31, there was selling interest totaling 701,200 shares, down 17.0% from the total of 845,300 shares as of October 15. Based on an average daily volume of 419,700 shares, the short interest ratio is currently 1.7 days. Currently, 1.4% of the stock’s shares are sold short.

Clean ports are trading down 3.8%

NYSE: CLH traded at $4.38 during Monday trading hours, hitting $111.18. 444,331 shares were traded, against an average volume of 411,744. The company’s 50-day moving average is $116.31 and its two-hundred-day moving average is $104.02. Clean Harbors has a 12-month low of $81.56 and a 12-month high of $124.49. The company has a quick ratio of 1.72, a current ratio of 2.01 and a debt ratio of 1.36. The company has a market capitalization of $6.01 billion, a P/E ratio of 16.02 and a beta of 1.40.

Insider activity

In other news, Executive Vice President Brian P. Weber sold 2,003 shares of the company in a trade that took place on Friday, September 9. The stock was sold at an average price of $122.42, for a total value of $245,207.26. Following the sale, the executive vice president now directly owns 62,103 shares of the company, valued at approximately $7,602,649.26. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Company insiders hold 6.60% of the company’s shares.

Institutional entries and exits

Several large investors have recently bought and sold shares of the company. Eaton Vance Management increased its stake in Clean Harbors shares by 6.5% in Q3. Eaton Vance Management now owns 31,873 shares of the business services provider valued at $3,506,000 after purchasing an additional 1,954 shares during the period. Cubist Systematic Strategies LLC increased its stake in Clean Harbors shares by 124.1% in Q3. Cubist Systematic Strategies LLC now owns 165,991 shares of the business services provider valued at $18,256,000 after purchasing an additional 91,909 shares during the period. Renaissance Technologies LLC increased its stake in Clean Harbors shares by 16.8% in the third quarter. Renaissance Technologies LLC now owns 439,635 shares of the business services provider valued at $48,351,000 after purchasing an additional 63,202 shares during the period. Lazard Asset Management LLC increased its stake in Clean Harbors shares by 2,696.0% in Q3. Lazard Asset Management LLC now owns 699 shares of the business services provider valued at $76,000 after purchasing an additional 674 shares during the period. Finally, Boothbay Fund Management LLC acquired a new position in shares of Clean Harbors in Q3 worth $438,000. Institutional investors and hedge funds hold 88.85% of the company’s shares.

Changes to analyst ratings

Several research firms have recently weighed in on CLH. Stifel Nicolaus raised his price target on Clean Harbors from $127.00 to $145.00 and gave the company a “buy” rating in a Friday, September 2 research note. Robert W. Baird raised his price target on Clean Harbors from $150.00 to $155.00 in a Thursday, November 3 research report. UBS Group downgraded Clean Harbors from a “buy” rating to a “neutral” rating and set a price target of $135.00 for the stock. in a research report on Thursday, November 3. BMO Capital Markets raised its price target on Clean Harbors from $104.00 to $124.00 and gave the stock an “outperform” rating in a Thursday, Aug. 4 research report. Finally, DA Davidson raised his price target on Clean Harbors to $150.00 in a Tuesday, August 9 research report. Two equity research analysts gave the stock a hold rating, four gave the stock a buy rating and two gave the stock a strong buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $139.25.

Clean Harbors Company Profile

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Clean Harbors, Inc provides environmental and industrial services in North America. The Company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats and disposes of hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill, sewage treatment, l laboratory chemical disposal and explosives management services; and CleanPack services, including the collection, identification, categorization, specialized packaging, transport and disposal of laboratory chemicals and household hazardous waste.

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