Swedbank AB Buys 10,000 Shares of Clean Harbors, Inc. $CLH

Key Points

• Swedbank AB increased its Clean Harbors stake by 7.1% in the fourth quarter, buying 10,000 additional shares and bringing its holdings to 150,000 shares worth about $35.2 million.
• Institutional ownership remains very high, with several other funds also adding to positions and institutions collectively owning 90.43% of Clean Harbors stock.
• Clean Harbors reported solid quarterly results and has favorable analyst sentiment, beating EPS estimates in its latest earnings report and carrying a consensus rating of “Moderate Buy” with an average price target of $322.08.

Swedbank AB lifted its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 150,000 shares of the business services provider's stock after purchasing an additional 10,000 shares during the quarter. Swedbank AB owned 0.28% of Clean Harbors worth $35,172,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp raised its stake 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 stake 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. Bessemer Group Inc. raised its stake 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 purchasing an additional 87,322 shares during the period. Nordea Investment Management AB raised its stake 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. Finally, First Trust Advisors LP raised its stake 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 purchasing an additional 101,509 shares during the period. 90.43% of the stock is currently owned by institutional investors.

Insider Transactions at Clean Harbors

In other news, EVP Brian P. Weber sold 4,683 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $293.39, for a total value of $1,373,945.37. Following the completion of the transaction, the executive vice president directly owned 48,728 shares in the company, valued at approximately $14,296,307.92. This represents a 8.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marcy L. Reed sold 836 shares of the company's stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $287.94, for a total value of $240,717.84. Following the completion of the transaction, the director owned 5,081 shares of the company's stock, valued at $1,463,023.14. The trade was a 14.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 6,519 shares of company stock worth $1,907,663. 5.00% of the stock is currently owned by corporate insiders.

Clean Harbors Price Performance

Clean Harbors stock opened at $287.10 on Monday. Clean Harbors, Inc. has a 52 week low of $201.34 and a 52 week high of $316.98. The business has a 50-day simple moving average of $295.91 and a 200 day simple moving average of $265.72. The company has a quick ratio of 1.99, a current ratio of 2.34 and a debt-to-equity ratio of 0.99. The stock has a market cap of $15.17 billion, a price-to-earnings ratio of 38.90 and a beta of 0.92.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its earnings results on Wednesday, May 6th. The business services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.15 by $0.04. Clean Harbors had a return on equity of 14.37% and a net margin of 6.53%.The business had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same period in the previous year, the business earned $1.09 earnings per share. The firm's revenue was up 1.9% on a year-over-year basis. On average, research analysts forecast that Clean Harbors, Inc. will post 8.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CLH. Truist Financial boosted their price objective on Clean Harbors from $310.00 to $325.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Citigroup upgraded Clean Harbors from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $302.00 to $346.00 in a research report on Wednesday, April 8th. Raymond James Financial restated a "strong-buy" rating and set a $320.00 target price on shares of Clean Harbors in a research report on Monday, February 23rd. The Goldman Sachs Group boosted their target price on Clean Harbors from $268.00 to $306.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 8th. Finally, Wall Street Zen cut Clean Harbors from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $322.08.

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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