Pathstone Family Office LLC Doubles Down on Clean Harbors Stock

Pathstone Family Office LLC, an investment firm, has notably increased its ownership in Clean Harbors, Inc. (NYSE: CLH), the well-known provider of environmental and business services. In the third quarter, Pathstone’s investment in the company surged by a remarkable 116.3%.

The latest 13F filings with the SEC reveal that Pathstone now holds 4,925 shares in Clean Harbors, following the purchase of an additional 2,648 shares. This bolstered stake has a financial worth of approximately $824,000 at the quarter’s end.

Notably, Pathstone isn’t the only institutional investor adjusting its position in the company. Several others, including Select Equity Group L.P., Clearbridge Investments LLC, Norges Bank, Silvercrest Asset Management Group LLC, and Jackson Square Partners LLC have also made significant changes to their holdings in recent quarters.

Insider Transactions Add to the Narrative

The company has witnessed noteworthy trades by insiders, adding to the company's stock narrative. Alan S. Mckim, an insider, sold 17,453 shares at an average price of $178.37, grossing over $3.1 million. Post-transaction, Mckim still owns a substantial share of the company stock, valued at nearly $476.6 million.

Additionally, CEO Eric W. Gerstenberg joined in the selling, parting with 8,000 shares at an average price of $164.82. Gerstenberg's remaining holdings post-sale totals 68,787 shares, marking a significant vested interest in the company’s performance.

Performance and Analyst Views

Clean Harbors has demonstrated strength in its stock performance with shares opening at $182.91. The firm boasts a market capitalization of $10.01 billion. With a PE ratio of 27.46 and a beta of 1.24, the company’s financial health seems steady, observed by its debt-to-equity ratio and liquidity measures.

Several analysts have weighed in on Clean Harbors, with varied but generally positive perspectives on target prices and stock ratings. Stifel Nicolaus and Wells Fargo & Company are among those that recommend a buy, hinting at a bullish sentiment in the market for CLH shares.

About Clean Harbors

Clean Harbors is a major player in the environmental and industrial services sector, operating both domestically and internationally. Their operations span a wide range of services, from waste management to recovery and disposal, catering to both hazardous and non-hazardous materials.

Pathstone, CleanHarbors, Stake