Amundi Sells 99,080 Shares of Clean Harbors, Inc. $CLH

Key Points

• Amundi cut its Clean Harbors position by 93% in the second quarter, selling 99,080 shares and retaining 7,436 shares valued at approximately $2.22 million.
• Clean Harbors reported strong quarterly results, with adjusted EPS of $3.22 beating estimates of $2.81 and revenue rising 11.9% year over year to $1.74 billion. The stock opened at $322.41, near its 12-month high of $335.94.
• Analyst sentiment remains favorable, with the company receiving a “Moderate Buy” consensus rating and an average price target of $354.57. Meanwhile, the CEO and a director recently sold shares, and insiders own 5% of the company.

Amundi reduced its position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 93.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,436 shares of the business services provider's stock after selling 99,080 shares during the period. Amundi's holdings in Clean Harbors were worth $2,222,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Assetmark Inc. boosted its holdings in Clean Harbors by 8.9% in the first quarter. Assetmark Inc. now owns 430 shares of the business services provider's stock valued at $123,000 after acquiring an additional 35 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Clean Harbors by 2.6% in the 1st quarter. NewEdge Advisors LLC now owns 1,995 shares of the business services provider's stock worth $572,000 after purchasing an additional 50 shares in the last quarter. SkyView Investment Advisors LLC grew its position in Clean Harbors by 2.3% during the 2nd quarter. SkyView Investment Advisors LLC now owns 2,378 shares of the business services provider's stock valued at $549,000 after purchasing an additional 53 shares during the last quarter. US Bancorp DE grew its position in Clean Harbors by 16.9% during the 3rd quarter. US Bancorp DE now owns 374 shares of the business services provider's stock valued at $87,000 after purchasing an additional 54 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its holdings in shares of Clean Harbors by 2.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,121 shares of the business services provider's stock valued at $608,000 after buying an additional 59 shares during the last quarter. Institutional investors own 90.43% of the company's stock.

Insider Buying and Selling at Clean Harbors

In other news, CEO Eric W. Gerstenberg sold 2,500 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $321.34, for a total transaction of $803,350.00. Following the transaction, the chief executive officer owned 56,793 shares in the company, valued at $18,249,862.62. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Andrea Robertson sold 789 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $314.01, for a total transaction of $247,753.89. Following the transaction, the director owned 8,979 shares in the company, valued at $2,819,495.79. The trade was a 8.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.00% of the stock is currently owned by company insiders.

Clean Harbors Trading Down 0.1%

CLH stock opened at $322.41 on Monday. The firm's 50-day moving average is $311.99 and its 200 day moving average is $299.47. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.13 and a quick ratio of 1.80. Clean Harbors, Inc. has a 12 month low of $201.34 and a 12 month high of $335.94. The company has a market capitalization of $17.02 billion, a PE ratio of 39.13, a P/E/G ratio of 2.08 and a beta of 0.85.

Clean Harbors (NYSE:CLH - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.22 EPS for the quarter, topping the consensus estimate of $2.81 by $0.41. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%.The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the business posted $2.36 EPS. Clean Harbors's quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts anticipate that Clean Harbors, Inc. will post 9.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CLH. BMO Capital Markets boosted their target price on Clean Harbors from $340.00 to $342.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of Clean Harbors from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 30th. Wall Street Zen raised Clean Harbors from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Truist Financial raised their price target on Clean Harbors from $350.00 to $365.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Bank of America set a $377.00 price objective on shares of Clean Harbors and gave the company a "buy" rating in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Clean Harbors has an average rating of "Moderate Buy" and an average price target of $354.57.

Clean Harbors Company Profile

Clean Harbors, Inc provides environmental, energy and industrial services throughout the United States and Canada. The company manages hazardous and non-hazardous waste through services that include collection, transportation, treatment, disposal, recycling and incineration. It also provides emergency spill response, wastewater treatment and specialized environmental remediation.

Through its industrial services operations, Clean Harbors supports refineries, chemical plants, utilities, manufacturers and other industrial customers with maintenance, cleaning, turnaround and specialty services.

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