Pictet Asset Management Holding SA lowered its holdings in shares of Clean Harbors, Inc. (NYSE:CLH – Free Report) by 21.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 475,390 shares of the business services provider’s stock after selling 133,418 shares during the period. Pictet Asset Management Holding SA’s holdings in Clean Harbors were worth $147,487,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. Reyes Financial Architecture Inc. acquired a new stake in Clean Harbors in the third quarter valued at about $31,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Clean Harbors in the second quarter valued at about $36,000. Elevation Wealth Partners LLC grew its position in Clean Harbors by 317.6% in the third quarter. Elevation Wealth Partners LLC now owns 142 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 108 shares during the last quarter. Pension & Wealth Management Advisors Inc. acquired a new position in Clean Harbors during the third quarter worth about $53,000. Finally, Root Financial Partners LLC acquired a new position in Clean Harbors during the third quarter worth about $87,000. 90.43% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. TD Cowen increased their target price on shares of Clean Harbors from $390.00 to $395.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Weiss Ratings upgraded shares of Clean Harbors from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 29th. Needham & Company LLC lifted their price target on shares of Clean Harbors from $325.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Raymond James Financial reiterated a “strong-buy” rating on shares of Clean Harbors in a research report on Thursday, October 29th. Finally, UBS Group upgraded shares of Clean Harbors from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $325.00 to $375.00 in a research report on Wednesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $365.29.
View Our Latest Stock Analysis on Clean Harbors
Clean Harbors Stock Up 0.2%
NYSE:CLH opened at $284.74 on Monday. The firm’s 50 day simple moving average is $313.48 and its 200 day simple moving average is $298.42. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.95 and a quick ratio of 1.63. Clean Harbors, Inc. has a one year low of $201.34 and a one year high of $335.94. The company has a market cap of $15.01 billion, a PE ratio of 28.59, a P/E/G ratio of 1.59 and a beta of 0.87.
Clean Harbors (NYSE:CLH – Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The business services provider reported $3.93 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.67. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.73 billion. Clean Harbors had a return on equity of 18.27% and a net margin of 8.05%. Clean Harbors’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 earnings per share. On average, research analysts anticipate that Clean Harbors, Inc. will post 10.33 earnings per share for the current year.
Insider Transactions at Clean Harbors
In other Clean Harbors news, Director Karyn Polito purchased 125 shares of the company’s stock in a transaction on Thursday, October 29th. The shares were purchased at an average cost of $314.83 per share, with a total value of $39,353.75. Following the completion of the purchase, the director owned 4,252 shares in the company, valued at $1,338,657.16. This represents a 3.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Gerstenberg sold 2,500 shares of the business’s stock in a transaction 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 transaction, the chief executive officer owned 56,793 shares in the company, valued at $18,249,862.62. The trade was a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.00% of the stock is owned by insiders.
Clean Harbors Profile
Clean Harbors, Inc provides environmental, industrial and hazardous waste management services to businesses and government organizations. Its services include the collection, transportation, treatment and disposal of hazardous and non-hazardous waste, as well as industrial cleaning and maintenance.
The company also offers emergency spill response and related environmental services. Through its Safety-Kleen operations, Clean Harbors collects and re-refines used oil and provides parts-cleaning and other environmental services to commercial and industrial customers.
Founded in 1980 and headquartered in Norwell, Massachusetts, Clean Harbors serves customers across North America.
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