Hsbc Holdings PLC Takes $6.70 Million Position in Clean Harbors, Inc. $CLH

Hsbc Holdings PLC purchased a new stake in Clean Harbors, Inc. (NYSE:CLH) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,326 shares of the business services provider’s stock, valued at approximately $6,699,000.

A number of other hedge funds have also bought and sold shares of CLH. BlackRock Inc. bought a new stake in Clean Harbors in the 2nd quarter valued at about $1,516,521,000. Norges Bank bought a new position in shares of Clean Harbors during the fourth quarter worth approximately $152,195,000. Durable Capital Partners LP bought a new position in shares of Clean Harbors during the third quarter worth approximately $133,217,000. William Blair Investment Management LLC acquired a new stake in shares of Clean Harbors in the second quarter valued at approximately $125,239,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Clean Harbors in the second quarter valued at approximately $105,962,000. 90.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Clean Harbors

In other news, CEO Eric W. Gerstenberg sold 2,500 shares of Clean Harbors stock in a transaction on Friday, August 14th. The stock was sold at an average price of $321.34, for a total value of $803,350.00. Following the transaction, the chief executive officer owned 56,793 shares in the company, valued at approximately $18,249,862.62. This trade represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrea Robertson sold 789 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $314.01, for a total value of $247,753.89. Following the transaction, the director directly owned 8,979 shares of the company’s stock, valued at $2,819,495.79. This trade represents a 8.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.00% of the stock is owned by corporate insiders.

Clean Harbors Price Performance

Shares of NYSE:CLH opened at $310.56 on Friday. The firm has a 50 day moving average of $307.51 and a 200-day moving average of $296.28. Clean Harbors, Inc. has a 12 month low of $201.34 and a 12 month high of $335.94. The company has a current ratio of 2.13, a quick ratio of 1.80 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $16.39 billion, a PE ratio of 37.69, a PEG ratio of 2.01 and a beta of 0.86.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.41. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.64 billion. Clean Harbors had a net margin of 7.03% and a return on equity of 15.65%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $2.36 EPS. On average, equities research analysts predict that Clean Harbors, Inc. will post 9.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CLH. Stifel Nicolaus boosted their price target on Clean Harbors from $337.00 to $364.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. BMO Capital Markets raised their price objective on Clean Harbors from $340.00 to $342.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. TD Cowen lifted their price objective on Clean Harbors from $335.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings upgraded Clean Harbors from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 30th. Finally, Oppenheimer reissued an “outperform” rating and set a $350.00 target price on shares of Clean Harbors in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $354.57.

Clean Harbors 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.