Swedbank AB Increases Stock Holdings in Clean Harbors, Inc. $CLH

Key Points

• Swedbank AB increased its stake in Clean Harbors, Inc. by 25% in Q1, owning 125,000 shares valued at approximately $24.6 million.
• Several institutional investors significantly raised their stakes in Clean Harbors, with Millennium Management increasing theirs by an astonishing 36,389.2% during the same period.
• Clean Harbors reported earnings of $2.36 per share for the last quarter, slightly beating expectations, but experienced a 0.2% year-over-year decline in revenue.

Swedbank AB increased its holdings in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 125,000 shares of the business services provider's stock after acquiring an additional 25,000 shares during the period. Swedbank AB owned about 0.23% of Clean Harbors worth $24,638,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Voya Investment Management LLC raised its position in shares of Clean Harbors by 4.4% in the 1st quarter. Voya Investment Management LLC now owns 127,419 shares of the business services provider's stock valued at $25,114,000 after acquiring an additional 5,362 shares during the period. Strs Ohio bought a new stake in Clean Harbors in the 1st quarter valued at $31,312,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Clean Harbors by 127.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 899,566 shares of the business services provider's stock valued at $177,304,000 after purchasing an additional 504,290 shares during the period. Rivermont Capital Management LP boosted its stake in Clean Harbors by 74.6% in the 1st quarter. Rivermont Capital Management LP now owns 103,989 shares of the business services provider's stock valued at $20,496,000 after purchasing an additional 44,422 shares during the period. Finally, United Services Automobile Association bought a new position in shares of Clean Harbors in the 1st quarter valued at $658,000. Institutional investors own 90.43% of the company's stock.

Insider Buying and Selling

In related news, CEO Michael Louis Battles bought 2,000 shares of Clean Harbors stock in a transaction dated Friday, August 1st. The shares were acquired at an average cost of $233.50 per share, with a total value of $467,000.00. Following the completion of the transaction, the chief executive officer owned 82,911 shares in the company, valued at $19,359,718.50. The trade was a 2.47% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrea Robertson sold 836 shares of Clean Harbors stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $233.64, for a total transaction of $195,323.04. Following the transaction, the director directly owned 9,888 shares in the company, valued at approximately $2,310,232.32. The trade was a 7.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.60% of the company's stock.

Clean Harbors Price Performance

Shares of Clean Harbors stock traded down $1.07 during trading hours on Monday, hitting $234.96. The company's stock had a trading volume of 249,586 shares, compared to its average volume of 295,954. The business has a 50 day moving average price of $237.82 and a two-hundred day moving average price of $222.43. Clean Harbors, Inc. has a 12-month low of $178.29 and a 12-month high of $267.11. The company has a market cap of $12.60 billion, a PE ratio of 33.00 and a beta of 1.22. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.07 and a current ratio of 2.45.

Clean Harbors (NYSE:CLH - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.36 EPS for the quarter, topping the consensus estimate of $2.33 by $0.03. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.59 billion. Clean Harbors had a return on equity of 14.82% and a net margin of 6.48%.The firm's revenue was down .2% on a year-over-year basis. During the same quarter last year, the business posted $2.46 earnings per share. Analysts expect that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CLH. BMO Capital Markets set a $268.00 price target on Clean Harbors and gave the stock an "outperform" rating in a report on Thursday, July 31st. UBS Group lifted their target price on shares of Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Raymond James Financial lifted their price target on shares of Clean Harbors from $278.00 to $280.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 31st. Finally, Oppenheimer raised their target price on shares of Clean Harbors from $254.00 to $256.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $263.40.

Clean Harbors Company Profile

Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.