Clean Harbors, Inc. $CLH Shares Sold by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB reduced its Clean Harbors stake by 29.8% in the second quarter, selling 27,815 shares and retaining 65,529 shares valued at approximately $19.6 million. Institutional investors collectively own 90.43% of the company.
• Analyst sentiment remains favorable, with Clean Harbors holding a consensus “Moderate Buy” rating and an average price target of $354.57. Recent targets include $365 from Truist Financial and $350 from Oppenheimer.
• Clean Harbors exceeded quarterly expectations, reporting $3.22 in EPS versus $2.81 expected and $1.74 billion in revenue, up 11.9% year over year. Shares opened at $316.98, near their 12-month high of $335.94.

Handelsbanken Fonder AB cut its holdings in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 29.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,529 shares of the business services provider's stock after selling 27,815 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.12% of Clean Harbors worth $19,577,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CLH. Integrated Wealth Concepts LLC grew its holdings in Clean Harbors by 102.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,187 shares of the business services provider's stock valued at $431,000 after buying an additional 1,109 shares during the last quarter. Jones Financial Companies Lllp increased its position in Clean Harbors by 47.7% during the first quarter. Jones Financial Companies Lllp now owns 607 shares of the business services provider's stock worth $120,000 after buying an additional 196 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Clean Harbors by 12.1% in the first quarter. Goldman Sachs Group Inc. now owns 54,577 shares of the business services provider's stock worth $10,757,000 after acquiring an additional 5,884 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Clean Harbors by 65.1% in the second quarter. Russell Investments Group Ltd. now owns 4,837 shares of the business services provider's stock valued at $1,118,000 after acquiring an additional 1,908 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its stake in shares of Clean Harbors by 1.4% during the second quarter. Baird Financial Group Inc. now owns 4,418 shares of the business services provider's stock valued at $1,021,000 after acquiring an additional 60 shares during the last quarter. 90.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Clean Harbors

In other Clean Harbors news, Director Lauren States sold 789 shares of Clean Harbors stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $286.19, for a total value of $225,803.91. Following the transaction, the director owned 11,359 shares in the company, valued at $3,250,832.21. This trade represents a 6.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrea Robertson sold 789 shares of the business's stock in a transaction 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 sale, the director directly owned 8,979 shares of the company's stock, valued at $2,819,495.79. This represents a 8.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.00% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CLH shares. Barclays boosted their target price on shares of Clean Harbors from $305.00 to $325.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Clean Harbors from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 30th. The Goldman Sachs Group reissued a "neutral" rating on shares of Clean Harbors in a research report on Wednesday, July 29th. Truist Financial upped their price objective on shares of Clean Harbors from $350.00 to $365.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, Oppenheimer restated an "outperform" rating and set a $350.00 target price on shares of Clean Harbors in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $354.57.

Clean Harbors Stock Performance

NYSE CLH opened at $316.98 on Thursday. The business's 50-day moving average price is $300.12 and its 200 day moving average price is $291.73. The company has a current ratio of 2.13, a quick ratio of 1.80 and a debt-to-equity ratio of 0.94. Clean Harbors, Inc. has a twelve month low of $201.34 and a twelve month high of $335.94. The company has a market capitalization of $16.73 billion, a PE ratio of 38.47, a price-to-earnings-growth ratio of 2.05 and a beta of 0.86.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.22 EPS for the quarter, beating analysts' consensus estimates of $2.81 by $0.41. Clean Harbors had a net margin of 7.03% and a return on equity of 15.65%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the company posted $2.36 EPS. The company's quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts predict that Clean Harbors, Inc. will post 9.51 earnings per share for the current year.

Clean Harbors Company 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.

Want to see what other hedge funds are holding CLH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Clean Harbors, Inc. (NYSE:CLH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source