Bessemer Group Inc. Decreases Stock Holdings in Clean Harbors, Inc. $CLH

Key Points

• Bessemer Group Inc. cut its Clean Harbors stake by 16.6% in the fourth quarter, selling 182,422 shares and leaving it with 915,280 shares valued at about $214.6 million.
• Institutional ownership remains high, with several other funds adding to positions and hedge funds and other institutions now holding 90.43% of the stock.
• Clean Harbors reported solid quarterly results, with EPS of $1.19 topping estimates, while analysts currently hold a Moderate Buy consensus and an average price target of $322.08.

Bessemer Group Inc. reduced its holdings in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 16.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 915,280 shares of the business services provider's stock after selling 182,422 shares during the quarter. Bessemer Group Inc. owned 1.71% of Clean Harbors worth $214,615,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CLH. Durable Capital Partners LP purchased a new stake in Clean Harbors during the third quarter worth approximately $133,217,000. Nordea Investment Management AB grew its stake in Clean Harbors by 120.8% during the fourth quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider's stock worth $246,725,000 after buying an additional 569,388 shares during the period. Two Sigma Investments LP grew its stake in Clean Harbors by 148.3% during the third quarter. Two Sigma Investments LP now owns 384,494 shares of the business services provider's stock worth $89,287,000 after buying an additional 229,666 shares during the period. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in Clean Harbors during the third quarter worth approximately $28,925,000. Finally, Shannon River Fund Management LLC purchased a new stake in Clean Harbors during the third quarter worth approximately $26,907,000. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Clean Harbors from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings downgraded shares of Clean Harbors from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, April 9th. UBS Group boosted their price objective on shares of Clean Harbors from $300.00 to $315.00 and gave the stock a "neutral" rating in a research note on Thursday. Oppenheimer boosted their target price on shares of Clean Harbors from $310.00 to $316.00 and gave the stock an "outperform" rating in a research report on Thursday, May 7th. Finally, Truist Financial boosted their target price on shares of Clean Harbors from $310.00 to $325.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Clean Harbors has an average rating of "Moderate Buy" and an average target price of $322.08.

Clean Harbors Trading Up 1.7%

NYSE CLH opened at $308.05 on Friday. The stock has a market cap of $16.28 billion, a P/E ratio of 41.74 and a beta of 0.92. The company's fifty day simple moving average is $295.27 and its 200-day simple moving average is $262.79. The company has a current ratio of 2.34, a quick ratio of 1.99 and a debt-to-equity ratio of 0.99. Clean Harbors, Inc. has a 52 week low of $201.34 and a 52 week high of $316.98.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. The firm had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.47 billion. Clean Harbors had a net margin of 6.53% and a return on equity of 14.37%. The firm's quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 earnings per share. Equities research analysts predict that Clean Harbors, Inc. will post 8.38 EPS for the current fiscal year.

Insider Transactions at Clean Harbors

In related news, EVP Sharon M. Gabriel sold 3,540 shares of the company's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $282.07, for a total value of $998,527.80. Following the sale, the executive vice president directly owned 23,193 shares of the company's stock, valued at $6,542,049.51. This represents a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brian P. Weber sold 4,683 shares of the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $293.39, for a total transaction of $1,373,945.37. Following the completion of the sale, the executive vice president directly owned 48,728 shares in the company, valued at $14,296,307.92. This represents a 8.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,597 shares of company stock valued at $3,895,286 over the last ninety days. 5.00% of the stock is currently owned by corporate insiders.

Clean Harbors Profile

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.

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