Danica Pension Livsforsikringsaktieselskab Sells 4,836 Shares of Clean Harbors, Inc. $CLH

Key Points

• Danica Pension cut its Clean Harbors stake by 11.5% in the first quarter, selling 4,836 shares and ending with 37,094 shares valued at about $10.6 million.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $326, even as some firms maintained hold-style views.
• Clean Harbors reported better-than-expected quarterly earnings, posting EPS of $1.19 versus estimates of $1.15, while revenue rose 1.9% year over year to $1.46 billion.

Danica Pension Livsforsikringsaktieselskab reduced its position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,094 shares of the business services provider's stock after selling 4,836 shares during the period. Danica Pension Livsforsikringsaktieselskab owned approximately 0.07% of Clean Harbors worth $10,636,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in shares of Clean Harbors by 11.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,726 shares of the business services provider's stock valued at $1,929,000 after purchasing an additional 701 shares during the last quarter. KBC Group NV lifted its position in shares of Clean Harbors by 24.3% during the 1st quarter. KBC Group NV now owns 1,560 shares of the business services provider's stock worth $447,000 after buying an additional 305 shares during the last quarter. World Equity Group Inc. bought a new stake in shares of Clean Harbors during the 1st quarter worth $276,000. Assetmark Inc. boosted its stake in Clean Harbors by 8.9% in the first quarter. Assetmark Inc. now owns 430 shares of the business services provider's stock valued at $123,000 after buying an additional 35 shares in the last quarter. Finally, C WorldWide Group Holding A S boosted its stake in Clean Harbors by 3.3% in the first quarter. C WorldWide Group Holding A S now owns 49,871 shares of the business services provider's stock valued at $14,300,000 after buying an additional 1,602 shares in the last quarter. 90.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CLH shares. Stifel Nicolaus initiated coverage on Clean Harbors in a research note on Friday, May 29th. They set a "buy" rating and a $337.00 target price for the company. Wells Fargo & Company raised their price target on shares of Clean Harbors from $309.00 to $313.00 and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Clean Harbors in a report on Tuesday, July 7th. Truist Financial upped their price objective on shares of Clean Harbors from $310.00 to $325.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Finally, Citigroup increased their price objective on shares of Clean Harbors from $346.00 to $349.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $326.00.

Insider Transactions at Clean Harbors

In related news, Director Lauren States sold 789 shares of the firm's stock in a transaction that occurred 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 completion of 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.00% of the stock is currently owned by company insiders.

Clean Harbors Price Performance

Shares of CLH opened at $305.60 on Wednesday. Clean Harbors, Inc. has a 12-month low of $201.34 and a 12-month high of $316.98. The business has a 50-day simple moving average of $293.40 and a two-hundred day simple moving average of $285.31. The company has a quick ratio of 1.99, a current ratio of 2.34 and a debt-to-equity ratio of 0.99. The stock has a market cap of $16.15 billion, a PE ratio of 41.41 and a beta of 0.86.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Clean Harbors had a return on equity of 14.37% and a net margin of 6.53%.The business's revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $1.09 earnings per share. Analysts anticipate that Clean Harbors, Inc. will post 8.51 earnings per share 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.

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.