Clean Harbors, Inc. $CLH Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Clean Harbors, Inc. by 6.0%, owning 59,874 shares valued at approximately $13.84 million after selling 3,802 shares.
• Clean Harbors reported earnings per share of $2.36 for the last quarter, beating estimates, although quarterly revenue declined by 0.2% year-over-year.
• Analysts have positive outlooks for Clean Harbors, with multiple firms raising their price targets; the consensus price target is set at $262.45.

J. Safra Sarasin Holding AG reduced its stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 6.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,874 shares of the business services provider's stock after selling 3,802 shares during the period. J. Safra Sarasin Holding AG owned 0.11% of Clean Harbors worth $13,842,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its position in Clean Harbors by 0.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 15,726 shares of the business services provider's stock valued at $3,636,000 after purchasing an additional 48 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Clean Harbors by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 10,372 shares of the business services provider's stock valued at $2,044,000 after buying an additional 52 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Clean Harbors by 25.8% during the first quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock valued at $54,000 after acquiring an additional 56 shares during the period. Xponance Inc. grew its position in shares of Clean Harbors by 0.9% during the first quarter. Xponance Inc. now owns 6,703 shares of the business services provider's stock worth $1,321,000 after acquiring an additional 61 shares during the last quarter. Finally, Atticus Wealth Management LLC grew its position in shares of Clean Harbors by 13.9% during the second quarter. Atticus Wealth Management LLC now owns 532 shares of the business services provider's stock worth $123,000 after acquiring an additional 65 shares during the last quarter. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Clean Harbors Price Performance

Shares of NYSE:CLH opened at $227.64 on Friday. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 31.97 and a beta of 1.18. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.45 and a quick ratio of 2.07. Clean Harbors, Inc. has a 12 month low of $178.29 and a 12 month high of $267.11. The stock's 50 day moving average price is $238.76 and its 200 day moving average price is $225.41.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Oppenheimer lifted their price objective on shares of Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. BMO Capital Markets set a $268.00 price target on Clean Harbors and gave the company an "outperform" rating in a report on Thursday, July 31st. Barclays started coverage on Clean Harbors in a research report on Friday, September 19th. They set an "equal weight" rating and a $253.00 price objective for the company. Raymond James Financial raised their target price on Clean Harbors from $278.00 to $280.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 31st. Finally, UBS Group boosted their price target on Clean Harbors from $220.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $262.45.

Insider Activity

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

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.

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