JPMorgan Chase & Co. Raises Stock Holdings in Clean Harbors, Inc. $CLH

Key Points

• JPMorgan Chase & Co. boosted its stake in Clean Harbors by 7.8% in Q3 to 219,862 shares (about 0.41% of the company), valued at roughly $51.06 million.
• Analysts have raised price targets and maintain a consensus of “Moderate Buy”, with an average target of $299.27 and notable upgrades from BMO ($310) and Citi ($302).
• Company insiders have been net sellers recently—CEO and a director sold shares on March 18, and insiders disposed of 13,597 shares worth $3.895 million in the past 90 days, with insiders now owning 5.60% of the stock.

JPMorgan Chase & Co. boosted its holdings in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 219,862 shares of the business services provider's stock after purchasing an additional 15,872 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.41% of Clean Harbors worth $51,059,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CLH. Root Financial Partners LLC bought a new stake in shares of Clean Harbors in the third quarter worth $30,000. Bayforest Capital Ltd bought a new position in Clean Harbors during the 3rd quarter valued at $44,000. First Horizon Corp acquired a new position in Clean Harbors during the 3rd quarter worth $44,000. SJS Investment Consulting Inc. increased its position in shares of Clean Harbors by 2,985.7% in the 3rd quarter. SJS Investment Consulting Inc. now owns 216 shares of the business services provider's stock worth $50,000 after purchasing an additional 209 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Clean Harbors by 58.5% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the business services provider's stock valued at $51,000 after purchasing an additional 83 shares in the last quarter. 90.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on CLH. TD Cowen reaffirmed a "buy" rating on shares of Clean Harbors in a research report on Thursday, February 19th. Zacks Research upgraded Clean Harbors from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 13th. BMO Capital Markets increased their target price on Clean Harbors from $290.00 to $310.00 and gave the stock an "outperform" rating in a report on Wednesday, February 18th. Citigroup lifted their target price on Clean Harbors from $274.00 to $302.00 and gave the stock a "neutral" rating in a research report on Friday, February 20th. Finally, Barclays upped their price target on Clean Harbors from $230.00 to $280.00 and gave the company an "equal weight" rating in a research report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Clean Harbors currently has an average rating of "Moderate Buy" and an average price target of $299.27.

Insider Buying and Selling

In related news, Director Marcy L. Reed sold 836 shares of the company's stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $287.94, for a total value of $240,717.84. Following the completion of the sale, the director owned 5,081 shares of the company's stock, valued at $1,463,023.14. This represents a 14.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Eric W. Gerstenberg sold 1,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $293.00, for a total transaction of $293,000.00. Following the completion of the transaction, the chief executive officer owned 38,877 shares of the company's stock, valued at $11,390,961. This represents a 2.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 13,597 shares of company stock valued at $3,895,286. Company insiders own 5.60% of the company's stock.

Clean Harbors Stock Performance

CLH opened at $275.56 on Friday. The company has a current ratio of 2.33, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The business's 50 day moving average is $274.41 and its 200-day moving average is $246.41. The stock has a market cap of $14.58 billion, a PE ratio of 37.85 and a beta of 0.93. Clean Harbors, Inc. has a twelve month low of $178.29 and a twelve month high of $298.12.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The business services provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.03. Clean Harbors had a return on equity of 14.47% and a net margin of 6.48%.The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the company posted $1.55 EPS. The business's revenue for the quarter was up 4.8% compared to the same quarter last year. On average, analysts predict that Clean Harbors, Inc. will post 7.89 earnings per share for the current year.

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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