UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in Clean Harbors, Inc. $CLH

Key Points

• UBS Asset Management cut its Clean Harbors stake by 9.8% in the second quarter, selling 50,698 shares and retaining 466,863 shares valued at approximately $139.5 million. Institutional investors collectively own 90.43% of the company.
• Analysts remain broadly positive, with Clean Harbors carrying a “Moderate Buy” consensus rating and an average price target of $354.57. Recent target increases included TD Cowen at $380, Raymond James at $375, and Stifel at $364.
• Clean Harbors reported quarterly EPS of $3.22, beating estimates of $2.81, while revenue rose 11.9% year over year to $1.74 billion. The stock opened at $315.63, near its 52-week high of $335.94.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 9.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 466,863 shares of the business services provider's stock after selling 50,698 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.88% of Clean Harbors worth $139,475,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its position in Clean Harbors by 102.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,187 shares of the business services provider's stock worth $431,000 after purchasing an additional 1,109 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Clean Harbors by 47.7% in the 1st quarter. Jones Financial Companies Lllp now owns 607 shares of the business services provider's stock worth $120,000 after buying an additional 196 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Clean Harbors by 12.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 54,577 shares of the business services provider's stock worth $10,757,000 after buying an additional 5,884 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Clean Harbors by 65.1% in the second quarter. Russell Investments Group Ltd. now owns 4,837 shares of the business services provider's stock worth $1,118,000 after acquiring an additional 1,908 shares during the period. Finally, Baird Financial Group Inc. increased its position in Clean Harbors by 1.4% during the second quarter. Baird Financial Group Inc. now owns 4,418 shares of the business services provider's stock valued at $1,021,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 90.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Raymond James Financial reissued a "strong-buy" rating and issued a $375.00 target price on shares of Clean Harbors in a report on Thursday, July 30th. Stifel Nicolaus upped their price target on shares of Clean Harbors from $337.00 to $364.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Wells Fargo & Company increased their price objective on shares of Clean Harbors from $313.00 to $349.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. The Goldman Sachs Group reissued a "neutral" rating on shares of Clean Harbors in a report on Wednesday, July 29th. Finally, TD Cowen boosted their target price on shares of Clean Harbors from $335.00 to $380.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Clean Harbors presently has an average rating of "Moderate Buy" and an average target price of $354.57.

Clean Harbors Trading Up 0.1%

Shares of Clean Harbors stock opened at $315.63 on Wednesday. Clean Harbors, Inc. has a fifty-two week low of $201.34 and a fifty-two week high of $335.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.80 and a current ratio of 2.13. The company has a market capitalization of $16.66 billion, a P/E ratio of 38.30, a P/E/G ratio of 2.03 and a beta of 0.86. The company has a fifty day moving average of $308.55 and a 200 day moving average of $297.10.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.22 EPS for the quarter, beating analysts' consensus estimates of $2.81 by $0.41. The business had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.64 billion. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%.The business's quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $2.36 earnings per share. On average, sell-side analysts anticipate that Clean Harbors, Inc. will post 9.72 earnings per share for the current fiscal year.

Insider Activity at Clean Harbors

In other Clean Harbors news, Director Andrea Robertson sold 789 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $314.01, for a total transaction of $247,753.89. Following the completion of the sale, the director directly owned 8,979 shares of the company's stock, valued at $2,819,495.79. This trade represents a 8.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric W. Gerstenberg sold 2,500 shares of Clean Harbors stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $321.34, for a total transaction of $803,350.00. Following the sale, the chief executive officer owned 56,793 shares in the company, valued at approximately $18,249,862.62. The trade was a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.00% of the stock is currently owned by company insiders.

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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