Orbis Investment Management (u.s.) Lowers stake in Clean Harbors Inc (CLH)

Clean Harbors Inc (CLH) : Orbis Investment Management (u.s.) reduced its stake in Clean Harbors Inc by 12.17% during the most recent quarter end. The investment management company now holds a total of 127,823 shares of Clean Harbors Inc which is valued at $6,239,041 after selling 17,712 shares in Clean Harbors Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Clean Harbors Inc makes up approximately 4.77% of Orbis Investment Management (u.s.)’s portfolio.

Other Hedge Funds, Including , Springbok Capital Management added CLH to its portfolio by purchasing 7,399 company shares during the most recent quarter which is valued at $361,145. Clean Harbors Inc makes up approx 0.06% of Springbok Capital Management’s portfolio.Oppenheimerfunds reduced its stake in CLH by selling 1,327 shares or 13.03% in the most recent quarter. The Hedge Fund company now holds 8,860 shares of CLH which is valued at $432,457.Credit Suisse Ag boosted its stake in CLH in the latest quarter, The investment management firm added 26,878 additional shares and now holds a total of 258,365 shares of Clean Harbors Inc which is valued at $12,610,796. Clean Harbors Inc makes up approx 0.02% of Credit Suisse Ag’s portfolio.Oxford Asset Management reduced its stake in CLH by selling 104,019 shares or 41.21% in the most recent quarter. The Hedge Fund company now holds 148,390 shares of CLH which is valued at $7,331,950. Clean Harbors Inc makes up approx 0.29% of Oxford Asset Management’s portfolio. Reynders Mcveigh Capital Management sold out all of its stake in CLH during the most recent quarter. The investment firm sold 11,352 shares of CLH which is valued $572,935.

Clean Harbors Inc closed down -0.23 points or -0.48% at $47.57 with 3,10,351 shares getting traded on Thursday. Post opening the session at $47.94, the shares hit an intraday low of $46.99 and an intraday high of $48.025 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Clean Harbors Inc reported $0.15 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.23. The company had revenue of $697.50 million for the quarter, compared to analysts expectations of $729.59 million. The company’s revenue was down -25.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.72 EPS.

Many Wall Street Analysts have commented on Clean Harbors Inc. Macquarie Initiated Clean Harbors Inc on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $51.Company shares were Reiterated by Imperial Capital on Aug 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 57 from a previous price target of $55 .Company shares were Reiterated by Needham on Jun 22, 2016 to “Buy”, Firm has raised the Price Target to $ 59 from a previous price target of $51 .

Clean Harbors Inc. is a provider of environmental energy and industrial services throughout North America. The Company operates in six segments: Technical Services which provides a range of hazardous material management services; Industrial and Field Services which provides industrial and specialty services such as high-pressure and chemical cleaning catalyst handling decoking; Oil Re-refining and Recycling which processes used oil into base and blended lubricating oils; SK Environmental Services which consists of Safety-Kleen’s branches and provides a range of environmental services; Lodging Services which provides lodges and remote workforce accommodation facilities and Oil and Gas Field Services which provides fluid handling fluid hauling production servicing surface rentals seismic services. The Company has a network of over 400 service locations across 48 states eight Canadian provinces Puerto Rico Mexico and Trinidad.

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