Hsbc Holdings PLC Makes New $6.40 Million Investment in Clean Harbors, Inc. $CLH

Key Points

• HSBC Holdings PLC disclosed a new position in Clean Harbors during the first quarter, buying 22,460 shares valued at about $6.4 million.
• Institutional ownership in Clean Harbors remains very high, with hedge funds and other institutions holding 90.43% of the company’s stock.
• Analysts are largely constructive on the stock: Clean Harbors has a Moderate Buy consensus rating and an average price target of $327.92, while the company recently beat quarterly EPS estimates.

Hsbc Holdings PLC acquired a new stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 22,460 shares of the business services provider's stock, valued at approximately $6,398,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Oregon Public Employees Retirement Fund increased its holdings in Clean Harbors by 2.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 10,316 shares of the business services provider's stock worth $2,958,000 after acquiring an additional 280 shares in the last quarter. Abel Hall LLC bought a new position in shares of Clean Harbors during the first quarter worth $363,000. Praxis Investment Management Inc. boosted its holdings in shares of Clean Harbors by 12.4% during the 1st quarter. Praxis Investment Management Inc. now owns 1,585 shares of the business services provider's stock valued at $454,000 after purchasing an additional 175 shares during the last quarter. Koshinski Asset Management Inc. grew its holdings in Clean Harbors by 36.3% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,223 shares of the business services provider's stock valued at $351,000 after buying an additional 326 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new position in shares of Clean Harbors in the first quarter valued at $272,000. Hedge funds and other institutional investors own 90.43% of the company's stock.

Analysts Set New Price Targets

CLH has been the subject of several analyst reports. Barclays raised their price objective on Clean Harbors from $304.00 to $305.00 and gave the company an "equal weight" rating in a research note on Thursday, July 9th. Citigroup boosted their price objective on Clean Harbors from $346.00 to $349.00 and gave the company a "buy" rating in a report on Friday, July 10th. Wall Street Zen downgraded Clean Harbors from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. UBS Group increased their target price on Clean Harbors from $300.00 to $315.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Finally, BMO Capital Markets lifted their target price on Clean Harbors from $340.00 to $342.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 8th. 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, Clean Harbors currently has a consensus rating of "Moderate Buy" and an average price target of $327.92.

Clean Harbors Stock Performance

Shares of CLH stock opened at $306.18 on Friday. The firm has a market cap of $16.18 billion, a price-to-earnings ratio of 41.49 and a beta of 0.86. The company has a quick ratio of 1.99, a current ratio of 2.34 and a debt-to-equity ratio of 0.99. Clean Harbors, Inc. has a 52-week low of $201.34 and a 52-week high of $316.98. The company's 50 day moving average is $293.43 and its 200 day moving average is $286.26.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The business services provider reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. Clean Harbors had a return on equity of 14.37% and a net margin of 6.53%.The firm had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same period in the prior year, the business posted $1.09 EPS. The firm's quarterly revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts anticipate that Clean Harbors, Inc. will post 8.59 EPS for the current fiscal year.

Insider Buying and Selling at Clean Harbors

In related news, Director Lauren States sold 789 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $286.19, for a total transaction of $225,803.91. Following the transaction, the director directly owned 11,359 shares in the company, valued at $3,250,832.21. The trade was a 6.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.00% of the stock is owned by insiders.

Clean Harbors Company 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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