Ralph V. Whitworth Is Betting Big On Clean Harbors Inc (CLH)

Ralph V. Whitworth is bullish on Clean Harbors Inc (NYSE:CLH) and has recently initiated a significant position in the stock. According to a recent filing with the Securities and Exchange Commission, Whitworth’s fund, Relational Investors, has acquired 5.51 million shares, which represent 9.08% of the company’s common stock.

Ralph Whitworth

Ian Simm, the manager of Impax Asset Management, is also betting on Clean Harbors Inc (NYSE:CLH), having increased his fund’s holding of the stock by 21% during the fourth quarter of 2013. In its latest 13F filing, Impax Asset Management reported ownership of approximately 948,000 shares valued at $56.6 million. Andrew Sandler is also optimistic about the prospects of this company with his fund, Sandler Capital Management, reporting a new position in the stock: 230,100 shares valued at $13.7 million, according to its latest 13F.

A provider of environmental, energy, and industrial services, Clean Harbors Inc (NYSE:CLH) has a market cap of $3.79 billion and does not pay a dividend. The stock is traded at a trailing Price to Earnings (P/E) ratio of 39.xx, close to the industry average of 41.00. So far this year, the stock has gained 4.1% to a current price of $62.11 per share, despite a considerable correction in the first two months. The company reported revenues of $879 million and earnings of $0.44 per share for the 2013 fourth quarter. Analysts expect Clean Harbors to announce $833 million in revenues and earnings per share of $0.14 for the subsequent quarter.

Since the start of 2014, Relational Investors has reported multiple reductions to its stake in SPX Corporation (NYSE:SPW) and as a result, the fund currently holds 6.27 million shares. During the fourth quarter of 2013, Whitworth has built a significant stake in RPM International Inc. (NYSE:RPM): 1.29 million shares worth $53.8 million, according to the fund’s latest 13F filing. He has also increased Relational Investors’s stake in Hologic, Inc. (NASDAQ:HOLX) by 66% to 19.9 million shares reportedly worth $445 million.

Disclosure: none.

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