10,536 Shares in Clean Harbors, Inc. $CLH Purchased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC acquired 10,536 shares of Clean Harbors, Inc., valued at approximately $2,056,000, as part of their 1st quarter investment strategy.
• Several research firms, including Robert W. Baird and Raymond James Financial, have adjusted their target prices for CLH, with a consensus rating of "Moderate Buy" and an average price target of $263.40.
• Clean Harbors reported $2.36 EPS for the last quarter, slightly exceeding analysts' expectations, though revenues dropped by 0.2% compared to the previous year.

Hsbc Holdings PLC purchased a new stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,536 shares of the business services provider's stock, valued at approximately $2,056,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Oregon Public Employees Retirement Fund grew its holdings in shares of Clean Harbors by 0.5% during 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 in the last quarter. Deutsche Bank AG grew its holdings in shares of Clean Harbors by 1.0% during the fourth quarter. Deutsche Bank AG now owns 5,793 shares of the business services provider's stock valued at $1,333,000 after buying an additional 56 shares in the last quarter. Blue Trust Inc. grew its stake in Clean Harbors by 25.8% in the first quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock valued at $54,000 after purchasing an additional 56 shares in the last quarter. Xponance Inc. grew its stake in Clean Harbors by 0.9% in the first quarter. Xponance Inc. now owns 6,703 shares of the business services provider's stock valued at $1,321,000 after purchasing an additional 61 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its stake in Clean Harbors by 1.2% in the fourth quarter. Benjamin Edwards Inc. now owns 5,797 shares of the business services provider's stock valued at $1,334,000 after purchasing an additional 67 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 related news, EVP Brian P. Weber sold 3,035 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $227.17, for a total transaction of $689,460.95. Following the completion of the transaction, the executive vice president owned 54,548 shares of the company's stock, valued at approximately $12,391,669.16. The trade was a 5.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric W. Gerstenberg sold 8,076 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $225.23, for a total value of $1,818,957.48. Following the transaction, the chief executive officer directly owned 51,619 shares of the company's stock, valued at $11,626,147.37. This represents a 13.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,840 shares of company stock worth $2,903,497 in the last ninety days. 5.60% of the stock is owned by insiders.

Clean Harbors Stock Down 0.6%

Shares of CLH traded down $1.44 during trading hours on Tuesday, hitting $240.77. 187,869 shares of the company were exchanged, compared to its average volume of 313,431. The company has a market cap of $12.91 billion, a PE ratio of 33.82 and a beta of 1.22. The firm's 50 day moving average is $236.68 and its 200-day moving average is $221.08. Clean Harbors, Inc. has a 52 week low of $178.29 and a 52 week high of $267.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.07 and a current ratio of 2.45.

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

Analysts Set New Price Targets

CLH has been the topic of a number of recent research reports. Oppenheimer boosted their target price on Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. BMO Capital Markets set a $268.00 target price on Clean Harbors and gave the company an "outperform" rating in a research note on Thursday, July 31st. Raymond James Financial boosted their target price on Clean Harbors from $278.00 to $280.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 31st. Finally, UBS Group boosted their target price on Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $263.40.

Clean Harbors 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.