Simplicity Wealth takes new $1.08M stake in Clean Harbors as stock nears record high
What's the deal? Simplicity Wealth LLC bought a new position in Clean Harbors, Inc.Dealroom has a profile for this one. Try Dealroom → (NYSE:CLH) in the second quarter, according to HoldingsChannel.com. The fund purchased 3,621 shares of the business services provider, valued at about $1,082,000.
What does Clean Harbors do? The company provides environmental and industrial services across North America. It now carries a market cap of $16.98 billion, with a PE ratio of 39.03 and a beta of 0.86.
Why now? The stake follows a strong quarter. Clean Harbors reported $3.22 earnings per share for the period ended July 29, beating consensus estimates of $2.81, on revenue of $1.74 billion — above the $1.64 billion analysts expected, and up 11.9% year-over-year.
Who else is buying? Institutional investors own 90.43% of the stock. Norges BankDealroom has a profile for this one. Try Dealroom → opened a position worth about $152,195,000 in the fourth quarter, while Durable Capital Partners LP took a stake of roughly $133,217,000 in the third quarter. Janus Henderson Group PLCDealroom has a profile for this one. Try Dealroom → lifted its holdings 10% to 2,376,088 shares valued at $557,146,000.
The other side. Insiders have been trimming. Director Lauren States sold 789 shares on May 26 at an average $286.19, a 6.49% cut to her position; Director Andrea Robertson sold 789 shares on August 3 at $314.01. Insiders hold 5% of the stock.
Stock performance. Shares opened at $321.65 on Monday, near the 12-month high of $335.94 and well above the low of $201.34. The 50-day moving average sits at $301.56, the 200-day at $292.59.
The signal: Heavy institutional accumulation and rising analyst price targets — Wells FargoDealroom has a profile for this one. Try Dealroom → raised its objective to $349, Bank of AmericaDealroom has a profile for this one. Try Dealroom → set $377 — point to continued confidence in Clean Harbors, even as insiders lock in gains near record levels.
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Image credit: Ken Lund
