Union Bancaire Privee UBP SA Lowers Stake in Clean Harbors, Inc. $CLH

Key Points

• Union Bancaire Privee UBP SA reduced its Clean Harbors stake by 39.6% in the first quarter, selling 6,001 shares and leaving it with 9,136 shares valued at about $2.55 million.
• Clean Harbors reported better-than-expected quarterly earnings of $1.19 per share, topping estimates by $0.04, while revenue came in at $1.46 billion, slightly below forecasts but up 1.9% year over year.
• Analysts remain generally bullish on the stock, with an average rating of “Moderate Buy” and an average price target of $323.23; the shares were also trading up 0.8% at $301.68.

Union Bancaire Privee UBP SA cut its holdings in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 39.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,136 shares of the business services provider's stock after selling 6,001 shares during the period. Union Bancaire Privee UBP SA's holdings in Clean Harbors were worth $2,549,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Janus Henderson Group PLC grew its holdings in Clean Harbors by 10.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider's stock valued at $557,146,000 after purchasing an additional 215,659 shares during the period. State Street Corp lifted 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 buying an additional 12,452 shares in the last quarter. Snyder Capital Management L P lifted 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 in the last quarter. Nordea Investment Management AB grew its stake in Clean Harbors by 120.8% in 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 acquiring an additional 569,388 shares during the period. Finally, Geode Capital Management LLC grew its stake in Clean Harbors by 1.2% in 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 acquiring an additional 11,020 shares during the period. Hedge funds and other institutional investors own 90.43% of the company's stock.

Clean Harbors Trading Up 0.8%

Shares of CLH opened at $301.68 on Friday. Clean Harbors, Inc. has a 52-week low of $201.34 and a 52-week high of $316.98. The stock has a market cap of $15.94 billion, a PE ratio of 40.88 and a beta of 0.87. The firm's fifty day moving average is $293.57 and its two-hundred day moving average is $277.65. The company has a quick ratio of 1.99, a current ratio of 2.34 and a debt-to-equity ratio of 0.99.

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

Analyst Ratings Changes

CLH has been the subject of a number of research analyst reports. Oppenheimer upped their price objective on shares of Clean Harbors from $310.00 to $316.00 and gave the stock an "outperform" rating in a research report on Thursday, May 7th. Robert W. Baird boosted their target price on shares of Clean Harbors from $300.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. UBS Group upped their price target on shares of Clean Harbors from $300.00 to $315.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Wells Fargo & Company raised their price target on shares of Clean Harbors from $309.00 to $313.00 and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Finally, Truist Financial lifted their price objective on Clean Harbors from $310.00 to $325.00 and gave the stock a "buy" rating in a report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Clean Harbors presently has an average rating of "Moderate Buy" and an average price target of $323.23.

Insider Buying and Selling

In other Clean Harbors news, Director Lauren States sold 789 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $286.19, for a total value of $225,803.91. Following the completion of the sale, the director owned 11,359 shares in the company, valued at approximately $3,250,832.21. This represents a 6.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.00% of the company's stock.

Clean Harbors Company 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.

Want to see what other hedge funds are holding CLH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Clean Harbors, Inc. (NYSE:CLH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.