Pictet Asset Management Holding SA Decreases Stock Position in Clean Harbors, Inc. $CLH

Pictet Asset Management Holding SA lessened its stake in Clean Harbors, Inc. (NYSE:CLH) by 34.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,242,142 shares of the business services provider’s stock after selling 643,588 shares during the period. Pictet Asset Management Holding SA owned about 2.33% of Clean Harbors worth $356,087,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Elyxium Wealth LLC purchased a new position in Clean Harbors in the 4th quarter worth approximately $26,000. Quattro Advisors LLC purchased a new stake in Clean Harbors during the 4th quarter valued at $26,000. MidFirst Bank bought a new stake in Clean Harbors in the 4th quarter worth $28,000. Parkside Financial Bank & Trust increased its position in shares of Clean Harbors by 205.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 119 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 80 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of Clean Harbors by 676.5% in the fourth quarter. Larson Financial Group LLC now owns 132 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 115 shares during the period. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CLH. Oppenheimer increased their target price on shares of Clean Harbors from $310.00 to $316.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Stifel Nicolaus assumed coverage on Clean Harbors in a research report on Friday, May 29th. They set a “buy” rating and a $337.00 price target for the company. UBS Group increased their price objective on Clean Harbors from $300.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Wall Street Zen lowered Clean Harbors from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, TD Cowen boosted their target price on Clean Harbors from $320.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Two research 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 has an average rating of “Moderate Buy” and a consensus price target of $323.23.

Insider Activity

In other news, Director Lauren States sold 789 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $286.19, for a total value of $225,803.91. Following the completion of the transaction, the director owned 11,359 shares of the company’s stock, valued at approximately $3,250,832.21. This represents a 6.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.00% 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 1-year low of $201.34 and a 1-year high of $316.98. The company has a current ratio of 2.34, a quick ratio of 1.99 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average price is $293.57 and its 200-day moving average price is $277.65. The firm has a market capitalization of $15.94 billion, a price-to-earnings ratio of 40.88 and a beta of 0.87.

Clean Harbors (NYSE:CLH) last released its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Clean Harbors had a net margin of 6.53% and a return on equity of 14.37%. Clean Harbors’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 earnings per share. Sell-side analysts anticipate that Clean Harbors, Inc. will post 8.5 EPS for the current year.

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.