Swedbank AB Reduces Stock Position in Clean Harbors, Inc. $CLH

Key Points

• Swedbank AB reduced its Clean Harbors stake by 26.7% in the first quarter, selling 40,000 shares and ending with 110,000 shares valued at about $31.5 million.
• Clean Harbors beat earnings expectations in its latest quarterly report, posting EPS of $1.19 versus the $1.15 estimate, while revenue came in at $1.46 billion and rose 1.9% year over year.
• Analysts remain broadly positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $325.69, despite a recent insider sale by Director Lauren States.

Swedbank AB cut its holdings in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 26.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,000 shares of the business services provider's stock after selling 40,000 shares during the quarter. Swedbank AB owned approximately 0.21% of Clean Harbors worth $31,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Abel Hall LLC bought a new stake in shares of Clean Harbors in the 1st quarter worth approximately $363,000. Praxis Investment Management Inc. lifted its stake in Clean Harbors by 12.4% in the first quarter. Praxis Investment Management Inc. now owns 1,585 shares of the business services provider's stock worth $454,000 after acquiring an additional 175 shares during the period. Koshinski Asset Management Inc. lifted its stake in Clean Harbors by 36.3% in the first quarter. Koshinski Asset Management Inc. now owns 1,223 shares of the business services provider's stock worth $351,000 after acquiring an additional 326 shares during the period. QRG Capital Management Inc. bought a new stake in Clean Harbors in the first quarter valued at $272,000. Finally, HB Wealth Management LLC increased its position in Clean Harbors by 38.7% during the 1st quarter. HB Wealth Management LLC now owns 1,405 shares of the business services provider's stock valued at $403,000 after purchasing an additional 392 shares during the period. Hedge funds and other institutional investors own 90.43% of the company's stock.

Clean Harbors Trading Up 1.0%

Clean Harbors stock opened at $300.81 on Thursday. Clean Harbors, Inc. has a 12 month low of $201.34 and a 12 month high of $316.98. The company has a market capitalization of $15.90 billion, a price-to-earnings ratio of 40.76 and a beta of 0.86. The business's fifty day simple moving average is $292.15 and its two-hundred day simple moving average is $281.07. The company has a current ratio of 2.34, a quick ratio of 1.99 and a debt-to-equity ratio of 0.99.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Clean Harbors had a return on equity of 14.37% and a net margin of 6.53%.The company's revenue was up 1.9% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. As a group, equities analysts predict that Clean Harbors, Inc. will post 8.5 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Lauren States sold 789 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 11,359 shares in the company, valued at approximately $3,250,832.21. This represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 5.00% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. BMO Capital Markets upped their price objective on shares of Clean Harbors from $340.00 to $342.00 and gave the stock an "outperform" rating in a report on Wednesday. Barclays boosted their price target on shares of Clean Harbors from $280.00 to $304.00 and gave the company an "equal weight" rating in a research report on Monday, May 11th. Stifel Nicolaus began coverage on shares of Clean Harbors in a research note on Friday, May 29th. They issued a "buy" rating and a $337.00 price target for the company. The Goldman Sachs Group raised their price objective on shares of Clean Harbors from $268.00 to $306.00 and gave the stock a "neutral" rating in a report on Wednesday, April 8th. Finally, Citigroup raised Clean Harbors from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $302.00 to $346.00 in a research report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $325.69.

Clean Harbors 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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