KLP Kapitalforvaltning AS Boosts Stock Position in Clean Harbors, Inc. $CLH

KLP Kapitalforvaltning AS grew its holdings in Clean Harbors, Inc. (NYSE:CLH) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,200 shares of the business services provider’s stock after acquiring an additional 300 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Clean Harbors were worth $3,514,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in shares of Clean Harbors by 30.9% during the first quarter. Wellington Management Group LLP now owns 5,293,796 shares of the business services provider’s stock worth $1,043,407,000 after purchasing an additional 1,249,704 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Clean Harbors by 127.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 899,566 shares of the business services provider’s stock worth $177,304,000 after purchasing an additional 504,290 shares during the period. Millennium Management LLC lifted its holdings in shares of Clean Harbors by 36,389.2% during the first quarter. Millennium Management LLC now owns 362,892 shares of the business services provider’s stock worth $71,526,000 after purchasing an additional 363,892 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Clean Harbors during the second quarter worth about $59,085,000. Finally, Strs Ohio acquired a new stake in shares of Clean Harbors during the first quarter worth about $31,312,000. Institutional investors and hedge funds own 90.43% of the company’s stock.

Clean Harbors Stock Up 0.7%

Clean Harbors stock opened at $233.88 on Friday. The stock has a market capitalization of $12.54 billion, a PE ratio of 32.85 and a beta of 1.18. Clean Harbors, Inc. has a 12 month low of $178.29 and a 12 month high of $267.11. The business has a 50 day simple moving average of $238.37 and a 200-day simple moving average of $227.00. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.45 and a quick ratio of 2.07.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.03. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Clean Harbors had a return on equity of 14.82% and a net margin of 6.48%.The business’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.46 earnings per share. On average, analysts anticipate that Clean Harbors, Inc. will post 7.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Andrea Robertson sold 836 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $233.64, for a total value of $195,323.04. Following the completion of the sale, the director directly owned 9,888 shares in the company, valued at $2,310,232.32. The trade was a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Louis Battles purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average price of $233.50 per share, with a total value of $467,000.00. Following the completion of the transaction, the chief executive officer directly owned 82,911 shares of the company’s stock, valued at $19,359,718.50. This represents a 2.47% increase in their position. The disclosure for this purchase can be found here. 5.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. BMO Capital Markets set a $268.00 target price on Clean Harbors and gave the stock an “outperform” rating in a report on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Clean Harbors in a report on Wednesday. Oppenheimer lifted their target price on Clean Harbors from $254.00 to $256.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. UBS Group lifted their target price on Clean Harbors from $220.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $280.00 price target on shares of Clean Harbors in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Clean Harbors has an average rating of “Moderate Buy” and an average target price of $262.45.

About Clean Harbors

Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.