Covea Finance Trims Holdings in Clean Harbors, Inc. (NYSE:CLH)

Covea Finance trimmed its position in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 53.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,500 shares of the business services provider's stock after selling 44,800 shares during the quarter. Covea Finance owned 0.07% of Clean Harbors worth $7,785,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CLH. Kapitalo Investimentos Ltda bought a new position in Clean Harbors in the 4th quarter worth $32,000. Skandinaviska Enskilda Banken AB publ increased its position in shares of Clean Harbors by 2,650.0% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 165 shares of the business services provider's stock valued at $38,000 after buying an additional 159 shares during the period. Allworth Financial LP raised its stake in Clean Harbors by 130.4% in the fourth quarter. Allworth Financial LP now owns 182 shares of the business services provider's stock worth $44,000 after buying an additional 103 shares in the last quarter. Assetmark Inc. lifted its holdings in Clean Harbors by 10,250.0% in the fourth quarter. Assetmark Inc. now owns 207 shares of the business services provider's stock worth $48,000 after buying an additional 205 shares during the period. Finally, Physician Wealth Advisors Inc. bought a new stake in Clean Harbors during the 4th quarter valued at approximately $56,000. Hedge funds and other institutional investors own 90.43% of the company's stock.

Insider Activity

In other news, insider Robert Speights sold 1,022 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $228.49, for a total transaction of $233,516.78. Following the completion of the sale, the insider now owns 16,310 shares of the company's stock, valued at $3,726,671.90. This represents a 5.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alison A. Quirk sold 893 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $223.69, for a total transaction of $199,755.17. Following the completion of the transaction, the director now owns 2,978 shares in the company, valued at $666,148.82. This trade represents a 23.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,112 shares of company stock valued at $3,416,406 in the last 90 days. 5.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on CLH shares. Robert W. Baird raised their target price on Clean Harbors from $250.00 to $255.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Needham & Company LLC dropped their target price on shares of Clean Harbors from $268.00 to $255.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Truist Financial decreased their price target on shares of Clean Harbors from $270.00 to $250.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group dropped their price objective on shares of Clean Harbors from $250.00 to $220.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Finally, Wall Street Zen raised shares of Clean Harbors from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $257.67.

Clean Harbors Stock Up 1.2%

NYSE CLH traded up $2.79 during mid-day trading on Tuesday, reaching $232.79. The stock had a trading volume of 338,015 shares, compared to its average volume of 350,700. The company has a fifty day moving average price of $222.46 and a 200 day moving average price of $220.60. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.37 and a quick ratio of 1.98. Clean Harbors, Inc. has a 1 year low of $178.29 and a 1 year high of $267.11. The stock has a market cap of $12.47 billion, a PE ratio of 32.24 and a beta of 1.17.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.07. Clean Harbors had a return on equity of 15.47% and a net margin of 6.58%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the company posted $1.29 earnings per share. The company's quarterly revenue was up 4.0% on a year-over-year basis. On average, research analysts expect that Clean Harbors, Inc. will post 7.89 earnings per share for the current year.

About Clean Harbors

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.