Norges Bank Purchases Shares of 649,075 Clean Harbors, Inc. $CLH

Norges Bank purchased a new stake in Clean Harbors, Inc. (NYSE:CLH) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 649,075 shares of the business services provider’s stock, valued at approximately $152,195,000.

Several other institutional investors and hedge funds have also modified their holdings of CLH. Elyxium Wealth LLC purchased a new position in shares of Clean Harbors during the fourth quarter valued at approximately $26,000. Larson Financial Group LLC lifted its stake in shares of Clean Harbors by 676.5% during the fourth quarter. Larson Financial Group LLC now owns 132 shares of the business services provider’s stock valued at $31,000 after buying an additional 115 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Clean Harbors during the fourth quarter valued at approximately $34,000. True Wealth Design LLC lifted its stake in shares of Clean Harbors by 102.7% during the fourth quarter. True Wealth Design LLC now owns 152 shares of the business services provider’s stock valued at $36,000 after buying an additional 77 shares during the period. Finally, Clearstead Advisors LLC raised its stake in Clean Harbors by 84.1% during the fourth quarter. Clearstead Advisors LLC now owns 254 shares of the business services provider’s stock worth $60,000 after purchasing an additional 116 shares during the period. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Wall Street Analyst Weigh In

CLH has been the topic of a number of recent analyst reports. TD Cowen increased their price target on shares of Clean Harbors from $320.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Stifel Nicolaus initiated coverage on shares of Clean Harbors in a research report on Friday, May 29th. They issued a “buy” rating and a $337.00 price objective for the company. Needham & Company LLC increased their price objective on shares of Clean Harbors from $308.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Wells Fargo & Company increased their price objective on shares of Clean Harbors from $309.00 to $313.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Finally, Barclays increased their price objective on shares of Clean Harbors from $280.00 to $304.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $323.23.

Insider Activity

In related news, CEO Eric W. Gerstenberg sold 1,000 shares of the firm’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $293.00, for a total transaction of $293,000.00. Following the completion of the sale, the chief executive officer directly owned 38,877 shares of the company’s stock, valued at approximately $11,390,961. This trade represents a 2.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian P. Weber sold 4,683 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $293.39, for a total transaction of $1,373,945.37. Following the sale, the executive vice president directly owned 48,728 shares of the company’s stock, valued at approximately $14,296,307.92. The trade was a 8.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,308 shares of company stock valued at $2,133,467 in the last 90 days. Company insiders own 5.00% of the company’s stock.

Clean Harbors Price Performance

Clean Harbors stock opened at $286.76 on Thursday. Clean Harbors, Inc. has a 52-week low of $201.34 and a 52-week high of $316.98. The firm has a fifty day moving average of $295.12 and a 200-day moving average of $269.99. The firm has a market capitalization of $15.16 billion, a P/E ratio of 38.86 and a beta of 0.87. 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) last released its quarterly earnings data on Wednesday, May 6th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Clean Harbors had a net margin of 6.53% and a return on equity of 14.37%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. As a group, analysts predict 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.