KBC Group NV Grows Position in Clean Harbors, Inc. (NYSE:CLH)

KBC Group NV raised its position in shares of Clean Harbors, Inc. (NYSE:CLH) by 17.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,412 shares of the business services provider’s stock after acquiring an additional 205 shares during the period. KBC Group NV’s holdings in Clean Harbors were worth $341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CLH. Clearbridge Investments LLC increased its position in Clean Harbors by 30.6% in the second quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock worth $239,361,000 after purchasing an additional 248,240 shares during the last quarter. Lazard Freres Gestion S.A.S. bought a new position in shares of Clean Harbors in the 2nd quarter valued at about $42,968,000. Marshall Wace LLP grew its position in Clean Harbors by 20.3% in the second quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock worth $121,505,000 after acquiring an additional 90,756 shares in the last quarter. Janus Henderson Group PLC increased its stake in Clean Harbors by 5.2% during the first quarter. Janus Henderson Group PLC now owns 1,586,461 shares of the business services provider’s stock worth $319,371,000 after acquiring an additional 78,848 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in Clean Harbors by 12.6% during the third quarter. Handelsbanken Fonder AB now owns 570,826 shares of the business services provider’s stock valued at $137,974,000 after purchasing an additional 63,800 shares during the period. 90.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CLH shares. Truist Financial lifted their target price on Clean Harbors from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC cut their price objective on shares of Clean Harbors from $274.00 to $268.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus restated a “buy” rating and issued a $275.00 target price (up previously from $240.00) on shares of Clean Harbors in a report on Thursday, August 1st. Oppenheimer upped their price target on shares of Clean Harbors from $252.00 to $270.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Robert W. Baird decreased their price objective on shares of Clean Harbors from $300.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Clean Harbors presently has a consensus rating of “Buy” and a consensus target price of $254.33.

Clean Harbors Stock Performance

Shares of NYSE:CLH opened at $246.62 on Wednesday. The firm’s 50 day simple moving average is $249.34 and its 200-day simple moving average is $234.46. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.76 and a current ratio of 2.10. Clean Harbors, Inc. has a one year low of $158.42 and a one year high of $267.11. The firm has a market cap of $13.29 billion, a PE ratio of 32.11 and a beta of 1.20.

Clean Harbors (NYSE:CLH) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.12 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.03). Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the business earned $1.68 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities analysts predict that Clean Harbors, Inc. will post 7.29 EPS for the current year.

Insider Activity at Clean Harbors

In other news, Director Lauren States sold 308 shares of Clean Harbors stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $260.74, for a total value of $80,307.92. Following the transaction, the director now directly owns 13,150 shares in the company, valued at approximately $3,428,731. This trade represents a 2.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Louis Battles sold 10,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $245.74, for a total value of $2,457,400.00. Following the sale, the chief executive officer now owns 77,136 shares of the company’s stock, valued at $18,955,400.64. This trade represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,586 shares of company stock worth $4,351,841 over the last three months. 5.90% of the stock is owned by corporate insiders.

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.