Invesco Ltd. Has $140.55 Million Stock Holdings in Clean Harbors, Inc. $CLH

Key Points

• Invesco Ltd. reduced its stake in Clean Harbors, Inc. by 55.1%, selling 874,985 shares in Q1, and now holds 713,090 shares worth approximately $140.55 million.
• Clean Harbors reported $2.36 EPS for the latest quarter, surpassing analysts' estimates, while quarterly revenue totaled $1.55 billion, slightly below the anticipated $1.59 billion.
• Analysts have varying views on Clean Harbors, with price targets ranging from $240 to $280, and a consensus rating of "Moderate Buy."

Invesco Ltd. trimmed its position in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 55.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 713,090 shares of the business services provider's stock after selling 874,985 shares during the period. Invesco Ltd. owned approximately 1.33% of Clean Harbors worth $140,550,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its stake in Clean Harbors by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 10,372 shares of the business services provider's stock worth $2,044,000 after acquiring an additional 52 shares during the last quarter. Deutsche Bank AG boosted its stake in Clean Harbors by 1.0% during the 4th quarter. Deutsche Bank AG now owns 5,793 shares of the business services provider's stock worth $1,333,000 after acquiring an additional 56 shares during the last quarter. Blue Trust Inc. boosted its stake in Clean Harbors by 25.8% during the 1st quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock worth $54,000 after acquiring an additional 56 shares during the last quarter. Xponance Inc. boosted its stake in Clean Harbors by 0.9% during the 1st quarter. Xponance Inc. now owns 6,703 shares of the business services provider's stock worth $1,321,000 after acquiring an additional 61 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its stake in Clean Harbors by 1.2% during the 4th quarter. Benjamin Edwards Inc. now owns 5,797 shares of the business services provider's stock worth $1,334,000 after acquiring an additional 67 shares during the last quarter. Institutional investors own 90.43% of the company's stock.

Insiders Place Their Bets

In related news, CEO Eric W. Gerstenberg sold 8,076 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $225.23, for a total value of $1,818,957.48. Following the completion of the transaction, the chief executive officer directly owned 51,619 shares of the company's stock, valued at approximately $11,626,147.37. This trade represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian P. Weber sold 3,035 shares of the firm's stock in a transaction on Friday, June 13th. The shares were 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 directly owned 54,548 shares of the company's stock, valued at $12,391,669.16. This represents a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,948 shares of company stock valued at $3,611,729 in the last ninety days. 5.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on CLH shares. Needham & Company LLC reduced their price objective on shares of Clean Harbors from $268.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. UBS Group raised their target price on shares of Clean Harbors from $220.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Truist Financial dropped their target price on shares of Clean Harbors from $270.00 to $250.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Clean Harbors from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Finally, Oppenheimer raised their target price on shares of Clean Harbors from $254.00 to $256.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $263.40.

Clean Harbors Stock Up 1.0%

Shares of CLH traded up $2.3450 during mid-day trading on Tuesday, hitting $244.7750. 38,519 shares of the company's stock were exchanged, compared to its average volume of 420,114. The company has a market cap of $13.13 billion, a PE ratio of 34.39 and a beta of 1.18. Clean Harbors, Inc. has a 52 week low of $178.29 and a 52 week high of $267.11. The company has a 50-day simple moving average of $232.92 and a 200 day simple moving average of $220.20. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.45 and a quick ratio of 2.07.

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

About Clean Harbors

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.