JPMorgan Chase & Co. Grows Holdings in Clean Harbors, Inc. $CLH

JPMorgan Chase & Co. boosted its holdings in shares of Clean Harbors, Inc. (NYSE:CLH) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 219,862 shares of the business services provider’s stock after purchasing an additional 15,872 shares during the period. JPMorgan Chase & Co. owned approximately 0.41% of Clean Harbors worth $51,059,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CLH. Bessemer Group Inc. raised its stake in shares of Clean Harbors by 8.6% during the third quarter. Bessemer Group Inc. now owns 1,097,702 shares of the business services provider’s stock worth $254,908,000 after purchasing an additional 87,322 shares during the last quarter. Norges Bank purchased a new stake in Clean Harbors in the 2nd quarter valued at approximately $147,632,000. First Trust Advisors LP increased its position in Clean Harbors by 2.8% during the 2nd quarter. First Trust Advisors LP now owns 550,176 shares of the business services provider’s stock worth $127,190,000 after purchasing an additional 14,865 shares during the period. Nordea Investment Management AB purchased a new position in shares of Clean Harbors during the 3rd quarter worth approximately $108,608,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Clean Harbors by 14.6% in the second quarter. Bank of New York Mellon Corp now owns 423,025 shares of the business services provider’s stock valued at $97,795,000 after buying an additional 53,828 shares in the last quarter. 90.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Clean Harbors

In related news, Director John R. Welch sold 750 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $273.07, for a total transaction of $204,802.50. Following the completion of the sale, the director directly owned 10,237 shares of the company’s stock, valued at approximately $2,795,417.59. This represents a 6.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric W. Gerstenberg sold 601 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $240.90, for a total value of $144,780.90. Following the completion of the sale, the chief executive officer directly owned 50,454 shares of the company’s stock, valued at $12,154,368.60. The trade was a 1.18% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 7,679 shares of company stock valued at $2,132,403. 5.60% of the stock is owned by company insiders.

Clean Harbors Trading Up 0.5%

NYSE CLH opened at $286.09 on Thursday. The company has a market cap of $15.14 billion, a P/E ratio of 39.30 and a beta of 0.96. Clean Harbors, Inc. has a 12 month low of $178.29 and a 12 month high of $288.81. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.33 and a quick ratio of 2.00. The company has a 50-day moving average of $258.07 and a 200-day moving average of $241.08.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings results on Wednesday, February 18th. The business services provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.03. Clean Harbors had a net margin of 6.48% and a return on equity of 14.47%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm posted $1.55 earnings per share. Clean Harbors’s revenue was up 4.8% on a year-over-year basis. As a group, equities analysts predict that Clean Harbors, Inc. will post 7.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CLH has been the subject of a number of research analyst reports. Robert W. Baird set a $300.00 price target on shares of Clean Harbors in a report on Thursday, February 19th. Oppenheimer upped their price target on Clean Harbors from $283.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, February 19th. TD Cowen reiterated a “buy” rating on shares of Clean Harbors in a research report on Thursday, February 19th. Barclays upped their target price on Clean Harbors from $230.00 to $280.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Zacks Research upgraded Clean Harbors from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Clean Harbors presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.18.

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.