Pictet Asset Management Holding SA Decreases Stake in Clean Harbors, Inc. $CLH

Key Points

• Pictet Asset Management Holding SA reduced its stake by 9.0% in Clean Harbors in Q4, holding 1,885,730 shares (about a 3.53% stake) valued at roughly $442.3 million after selling 185,786 shares.
• Other institutions were net buyers—most notably Nordea, which increased its position by 120.8% (adding 569,388 shares to reach 1,040,594)—and roughly 90.43% of CLH is owned by hedge funds and other institutional investors.
• Clean Harbors slightly beat Q4 expectations (EPS $1.62 vs. $1.59; revenue $1.50B vs. $1.46B, +4.8% YoY), and Wall Street’s consensus is a “Moderate Buy” with an average target of $314; the company has a market cap of $16.47B and a P/E of 42.44.

Pictet Asset Management Holding SA reduced its stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,885,730 shares of the business services provider's stock after selling 185,786 shares during the quarter. Pictet Asset Management Holding SA owned approximately 3.53% of Clean Harbors worth $442,292,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Clean Harbors by 0.8% in 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 buying an additional 12,452 shares in the last quarter. 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 buying an additional 83,638 shares during the period. Bessemer Group Inc. raised its position in shares of Clean Harbors by 8.6% during the 3rd quarter. Bessemer Group Inc. now owns 1,097,702 shares of the business services provider's stock valued at $254,908,000 after buying an additional 87,322 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 buying an additional 569,388 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Clean Harbors by 18.5% during the 3rd quarter. First Trust Advisors LP now owns 651,685 shares of the business services provider's stock valued at $151,334,000 after buying an additional 101,509 shares during the period. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Clean Harbors Price Performance

Shares of CLH opened at $308.96 on Monday. Clean Harbors, Inc. has a twelve month low of $201.34 and a twelve month high of $316.98. The stock's 50 day moving average is $291.37 and its two-hundred day moving average is $257.41. The firm has a market capitalization of $16.47 billion, a PE ratio of 42.44 and a beta of 0.94. The company has a current ratio of 2.33, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its earnings results on Wednesday, February 18th. The business services provider reported $1.62 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 company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the business earned $1.55 earnings per share. Clean Harbors's quarterly revenue was up 4.8% compared to the same quarter last year. Research analysts anticipate that Clean Harbors, Inc. will post 8.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Eric W. Gerstenberg sold 1,000 shares of Clean Harbors stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $293.00, for a total value of $293,000.00. Following the completion of the sale, the chief executive officer owned 38,877 shares of the company's stock, valued at $11,390,961. The trade was a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sharon M. Gabriel sold 3,540 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $282.07, for a total transaction of $998,527.80. Following the transaction, the executive vice president directly owned 23,193 shares in the company, valued at approximately $6,542,049.51. This represents a 13.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 13,597 shares of company stock valued at $3,895,286. 5.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CLH. Zacks Research upgraded Clean Harbors from a "strong sell" rating to a "hold" rating in a report on Tuesday, January 13th. Wells Fargo & Company raised their price objective on shares of Clean Harbors from $291.00 to $309.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 18th. Weiss Ratings downgraded Clean Harbors from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, April 9th. Truist Financial upped their price target on Clean Harbors from $310.00 to $325.00 and gave the stock a "buy" rating in a report on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Clean Harbors from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $314.00.

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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