Pictet Asset Management Holding SA Buys 697,630 Shares of Clean Harbors, Inc. (NYSE:CLH)

Pictet Asset Management Holding SA raised its position in shares of Clean Harbors, Inc. (NYSE:CLH) by 72.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,658,128 shares of the business services provider’s stock after purchasing an additional 697,630 shares during the quarter. Pictet Asset Management Holding SA owned 3.08% of Clean Harbors worth $381,602,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Reliant Investment Management LLC purchased a new position in shares of Clean Harbors during the 4th quarter valued at $4,386,000. Fiduciary Alliance LLC purchased a new position in shares of Clean Harbors in the fourth quarter valued at about $846,000. Mountain Pacific Investment Advisers LLC boosted its stake in shares of Clean Harbors by 4.5% in the fourth quarter. Mountain Pacific Investment Advisers LLC now owns 99,039 shares of the business services provider’s stock worth $22,793,000 after acquiring an additional 4,240 shares during the period. Barclays PLC grew its position in shares of Clean Harbors by 44.5% during the third quarter. Barclays PLC now owns 28,056 shares of the business services provider’s stock worth $6,781,000 after purchasing an additional 8,639 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Clean Harbors during the 3rd quarter valued at approximately $2,192,000. 90.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CLH has been the subject of a number of research analyst reports. BMO Capital Markets cut their price objective on shares of Clean Harbors from $284.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Stifel Nicolaus reduced their price target on shares of Clean Harbors from $290.00 to $285.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. The Goldman Sachs Group dropped their price objective on shares of Clean Harbors from $250.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. StockNews.com raised Clean Harbors from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $268.00 price objective on shares of Clean Harbors in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Clean Harbors has an average rating of “Buy” and a consensus target price of $266.56.

Insider Buying and Selling

In related news, Director Lauren States sold 308 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $228.79, for a total transaction of $70,467.32. Following the completion of the transaction, the director now owns 11,918 shares in the company, valued at $2,726,719.22. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Speights sold 2,725 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $190.44, for a total value of $518,949.00. Following the completion of the sale, the insider now owns 40,008 shares in the company, valued at approximately $7,619,123.52. The trade was a 6.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,341 shares of company stock valued at $663,041 in the last ninety days. 5.90% of the stock is owned by company insiders.

Clean Harbors Stock Performance

NYSE CLH opened at $199.57 on Friday. The business’s 50 day moving average price is $217.75 and its 200-day moving average price is $235.69. Clean Harbors, Inc. has a fifty-two week low of $186.54 and a fifty-two week high of $267.11. The company has a market cap of $10.75 billion, a P/E ratio of 26.90 and a beta of 1.22. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.76 and a current ratio of 2.21.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings data on Wednesday, February 19th. The business services provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.19. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Clean Harbors had a net margin of 6.83% and a return on equity of 16.33%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.82 earnings per share. Sell-side analysts predict that Clean Harbors, Inc. will post 7.89 earnings per share for the current year.

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.