Covea Finance Sells 16,300 Shares of Clean Harbors, Inc. $CLH

Key Points

• Covea Finance cut its position in Clean Harbors by 23.5%, selling 16,300 shares and ending the quarter with 53,087 shares worth about $12.45 million (≈0.10% of the company).
• Company insiders have been net sellers recently — Director Marcy Reed and EVP Brian P. Weber sold shares in March, and insiders disposed of 13,597 shares valued at ~$3.90 million over the last three months while still owning 5.60% of the stock.
• Analysts have lifted price targets and the street consensus is a Moderate Buy with an average target of $299.27, vs. the stock trading around $275.56 and a 52-week high of $298.12.

Covea Finance reduced its holdings in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 23.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 53,087 shares of the business services provider's stock after selling 16,300 shares during the quarter. Covea Finance owned about 0.10% of Clean Harbors worth $12,448,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CLH. Candriam S.C.A. boosted its stake in Clean Harbors by 36.4% during the third quarter. Candriam S.C.A. now owns 68,867 shares of the business services provider's stock worth $15,992,000 after acquiring an additional 18,367 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Clean Harbors by 7.8% in the third quarter. JPMorgan Chase & Co. now owns 219,862 shares of the business services provider's stock valued at $51,059,000 after purchasing an additional 15,872 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Clean Harbors by 715.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 7,262 shares of the business services provider's stock valued at $1,686,000 after purchasing an additional 6,371 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Clean Harbors by 8.6% during the third quarter. Bessemer Group Inc. now owns 1,097,702 shares of the business services provider's stock valued at $254,908,000 after purchasing an additional 87,322 shares during the period. Finally, UniSuper Management Pty Ltd raised its holdings in shares of Clean Harbors by 14.0% during the third quarter. UniSuper Management Pty Ltd now owns 51,663 shares of the business services provider's stock valued at $11,997,000 after purchasing an additional 6,338 shares during the period. 90.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Clean Harbors

In other Clean Harbors news, Director Marcy L. Reed sold 836 shares of the firm's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $287.94, for a total transaction of $240,717.84. Following the transaction, the director directly owned 5,081 shares in the company, valued at approximately $1,463,023.14. This trade represents a 14.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian P. Weber sold 4,683 shares of Clean Harbors stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $293.39, for a total transaction of $1,373,945.37. Following the transaction, 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 have sold a total of 13,597 shares of company stock valued at $3,895,286 in the last three months. Insiders own 5.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citigroup raised their target price on Clean Harbors from $274.00 to $302.00 and gave the company a "neutral" rating in a research note on Friday, February 20th. BMO Capital Markets increased their price target on Clean Harbors from $290.00 to $310.00 and gave the stock an "outperform" rating in a report on Wednesday, February 18th. Needham & Company LLC raised their price objective on Clean Harbors from $290.00 to $308.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. Truist Financial boosted their price objective on Clean Harbors from $250.00 to $310.00 and gave the company a "buy" rating in a report on Thursday, February 19th. Finally, The Goldman Sachs Group upped their target price on Clean Harbors from $228.00 to $253.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Clean Harbors currently has an average rating of "Moderate Buy" and a consensus price target of $299.27.

Clean Harbors Price Performance

CLH stock opened at $275.56 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.33. The business has a 50-day simple moving average of $274.41 and a two-hundred day simple moving average of $246.41. The company has a market capitalization of $14.58 billion, a P/E ratio of 37.85 and a beta of 0.93. Clean Harbors, Inc. has a 52-week low of $178.29 and a 52-week high of $298.12.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The business services provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.59 by $0.03. Clean Harbors had a return on equity of 14.47% and a net margin of 6.48%.The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business posted $1.55 earnings per share. The company's quarterly revenue was up 4.8% compared to the same quarter last year. Research analysts expect that Clean Harbors, Inc. will post 7.89 EPS for the current fiscal year.

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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