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

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

A number of other hedge funds have also added to or reduced their stakes in CLH. Integrated Wealth Concepts LLC boosted its stake in shares of Clean Harbors by 102.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,187 shares of the business services provider’s stock worth $431,000 after buying an additional 1,109 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Clean Harbors by 47.7% in the first quarter. Jones Financial Companies Lllp now owns 607 shares of the business services provider’s stock valued at $120,000 after acquiring an additional 196 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Clean Harbors by 12.1% in the first quarter. Goldman Sachs Group Inc. now owns 54,577 shares of the business services provider’s stock valued at $10,757,000 after acquiring an additional 5,884 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Clean Harbors by 65.1% during the second quarter. Russell Investments Group Ltd. now owns 4,837 shares of the business services provider’s stock worth $1,118,000 after acquiring an additional 1,908 shares in the last quarter. Finally, Baird Financial Group Inc. raised its holdings in Clean Harbors by 1.4% during the second quarter. Baird Financial Group Inc. now owns 4,418 shares of the business services provider’s stock worth $1,021,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 90.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Needham & Company LLC raised their price target on Clean Harbors from $325.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Bank of America set a $377.00 price objective on Clean Harbors and gave the stock a “buy” rating in a research note on Thursday, July 30th. TD Cowen increased 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. Wall Street Zen raised shares of Clean Harbors from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Oppenheimer restated an “outperform” rating and set a $350.00 target price on shares of Clean Harbors in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Clean Harbors currently has an average rating of “Moderate Buy” and an average price target of $354.57.

Insider Transactions at Clean Harbors

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

Clean Harbors Trading Down 0.4%

Shares of NYSE:CLH opened at $310.56 on Friday. Clean Harbors, Inc. has a 52-week low of $201.34 and a 52-week high of $335.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.80 and a current ratio of 2.13. The company has a market capitalization of $16.39 billion, a P/E ratio of 37.69, a price-to-earnings-growth ratio of 2.01 and a beta of 0.86. The company has a 50-day simple moving average of $307.51 and a 200 day simple moving average of $296.28.

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

Clean Harbors Company 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.