Lombard Odier Asset Management Europe Ltd Reduces Position in Clean Harbors, Inc. $CLH

Key Points

• Lombard Odier Asset Management Europe Ltd cut its Clean Harbors stake by 34.7% in the fourth quarter, leaving it with 50,143 shares valued at about $11.8 million.
• Clean Harbors reported better-than-expected quarterly earnings, posting $1.19 EPS versus the $1.15 consensus, while revenue came in just below estimates at $1.46 billion.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $323.23; several firms recently raised targets or upgraded the shares.

Lombard Odier Asset Management Europe Ltd lessened its holdings in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 34.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,143 shares of the business services provider's stock after selling 26,644 shares during the quarter. Lombard Odier Asset Management Europe Ltd owned approximately 0.09% of Clean Harbors worth $11,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its position in shares of Clean Harbors by 0.8% during the 3rd quarter. State Street Corp now owns 1,515,621 shares of the business services provider's stock valued at $351,958,000 after purchasing an additional 12,452 shares during the period. Snyder Capital Management L P raised its position in shares of Clean Harbors by 7.9% during the 3rd quarter. Snyder Capital Management L P now owns 1,148,504 shares of the business services provider's stock valued at $266,706,000 after purchasing an additional 83,638 shares during the period. Nordea Investment Management AB raised its position in shares of Clean Harbors by 120.8% during the 4th quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider's stock valued at $246,725,000 after purchasing an additional 569,388 shares during the period. Geode Capital Management LLC raised its position in shares of Clean Harbors by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 917,779 shares of the business services provider's stock valued at $215,247,000 after purchasing an additional 11,020 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Clean Harbors by 8.6% during the 4th quarter. First Trust Advisors LP now owns 707,994 shares of the business services provider's stock valued at $166,010,000 after purchasing an additional 56,309 shares during the period. Hedge funds and other institutional investors own 90.43% of the company's stock.

Clean Harbors Stock Performance

Shares of NYSE CLH opened at $290.64 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.99 and a current ratio of 2.34. The company has a market cap of $15.36 billion, a P/E ratio of 39.38 and a beta of 0.87. The firm's fifty day moving average is $294.90 and its two-hundred day moving average is $274.60. Clean Harbors, Inc. has a 52-week low of $201.34 and a 52-week high of $316.98.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 EPS. As a group, analysts anticipate that Clean Harbors, Inc. will post 8.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on CLH. Stifel Nicolaus began coverage on shares of Clean Harbors in a research report on Friday, May 29th. They set a "buy" rating and a $337.00 price objective on the stock. Citigroup upgraded shares of Clean Harbors from a "neutral" rating to a "buy" rating and raised their price objective for the company from $302.00 to $346.00 in a research report on Wednesday, April 8th. UBS Group raised their price objective on shares of Clean Harbors from $300.00 to $315.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Wall Street Zen downgraded shares of Clean Harbors from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, TD Cowen raised their price objective on shares of Clean Harbors from $320.00 to $335.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Clean Harbors has an average rating of "Moderate Buy" and a consensus price target of $323.23.

Insider Transactions at Clean Harbors

In other Clean Harbors news, Director Lauren States sold 789 shares of Clean Harbors stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $286.19, for a total value of $225,803.91. Following the sale, the director directly owned 11,359 shares in the company, valued at approximately $3,250,832.21. The trade was a 6.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.00% of the company's stock.

About Clean Harbors

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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