Handelsbanken Fonder AB Decreases Holdings in Clean Harbors, Inc. $CLH

Key Points

• Handelsbanken Fonder AB cut its Clean Harbors stake by 73.1% in the fourth quarter, selling 287,500 shares and leaving it with 105,616 shares valued at about $24.8 million.
• Other institutional investors were mixed: several, including Candriam S.C.A., JPMorgan Chase, and Vaughan Nelson, increased their holdings, while hedge funds and institutions still own 90.43% of the company.
• Clean Harbors beat earnings expectations in its latest quarter, reporting $1.19 EPS versus $1.15 expected, while revenue came in slightly below forecasts at $1.46 billion; analysts currently rate the stock a Moderate Buy with an average target price of $322.08.

Handelsbanken Fonder AB lessened its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 73.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,616 shares of the business services provider's stock after selling 287,500 shares during the period. Handelsbanken Fonder AB owned about 0.20% of Clean Harbors worth $24,765,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Candriam S.C.A. increased its holdings 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 buying an additional 18,367 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Clean Harbors by 7.8% in the third quarter. JPMorgan Chase & Co. now owns 219,862 shares of the business services provider's stock worth $51,059,000 after purchasing an additional 15,872 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Clean Harbors by 57.4% in the fourth quarter. SG Americas Securities LLC now owns 62,621 shares of the business services provider's stock worth $14,683,000 after purchasing an additional 22,827 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in shares of Clean Harbors by 86.0% in the third quarter. Tudor Investment Corp ET AL now owns 63,104 shares of the business services provider's stock worth $14,654,000 after purchasing an additional 29,176 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Clean Harbors by 2.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 370,875 shares of the business services provider's stock worth $86,963,000 after purchasing an additional 8,145 shares in the last quarter. Hedge funds and other institutional investors own 90.43% of the company's stock.

Insider Buying and Selling at Clean Harbors

In other Clean Harbors news, CFO Eric J. Dugas sold 2,788 shares of Clean Harbors stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $281.31, for a total transaction of $784,292.28. Following the completion of the sale, the chief financial officer directly owned 15,933 shares in the company, valued at $4,482,112.23. The trade was a 14.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marcy L. Reed sold 836 shares of Clean Harbors stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $287.94, for a total transaction of $240,717.84. Following the sale, the director owned 5,081 shares of the company's stock, valued at approximately $1,463,023.14. The trade was a 14.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 12,847 shares of company stock valued at $3,690,483 over the last quarter. Company insiders own 5.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Clean Harbors from $310.00 to $325.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. TD Cowen lifted their target price on shares of Clean Harbors from $320.00 to $335.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Barclays lifted their target price on shares of Clean Harbors from $280.00 to $304.00 and gave the stock an "equal weight" rating in a research note on Monday, May 11th. Wells Fargo & Company lifted their target price on shares of Clean Harbors from $309.00 to $313.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Finally, Citigroup upgraded shares of Clean Harbors from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $302.00 to $346.00 in a research note on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Clean Harbors currently has an average rating of "Moderate Buy" and an average price target of $322.08.

Clean Harbors Price Performance

Shares of NYSE:CLH opened at $291.55 on Thursday. The company has a 50 day moving average of $296.03 and a 200 day moving average of $264.67. The stock has a market cap of $15.41 billion, a P/E ratio of 39.50 and a beta of 0.92. Clean Harbors, Inc. has a 12 month low of $201.34 and a 12 month high of $316.98. The company has a current ratio of 2.34, a quick ratio of 1.99 and a debt-to-equity ratio of 0.99.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The business services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.47 billion. Clean Harbors had a net margin of 6.53% and a return on equity of 14.37%. Clean Harbors's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 earnings per share. As a group, sell-side analysts forecast that Clean Harbors, Inc. will post 8.38 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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