AIA Group Ltd Makes New Investment in Clean Harbors, Inc. $CLH

AIA Group Ltd bought a new stake in Clean Harbors, Inc. (NYSE:CLH) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,371 shares of the business services provider’s stock, valued at approximately $1,479,000.

Other large investors have also recently added to or reduced their stakes in the company. Candriam S.C.A. lifted its stake in shares of Clean Harbors by 36.4% in the 3rd quarter. Candriam S.C.A. now owns 68,867 shares of the business services provider’s stock valued at $15,992,000 after purchasing an additional 18,367 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Clean Harbors by 7.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 219,862 shares of the business services provider’s stock valued at $51,059,000 after buying an additional 15,872 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Clean Harbors by 715.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 7,262 shares of the business services provider’s stock valued at $1,686,000 after buying an additional 6,371 shares during the last quarter. Bessemer Group Inc. lifted its holdings 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 buying an additional 87,322 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its position in shares of Clean Harbors by 14.0% in the third quarter. UniSuper Management Pty Ltd now owns 51,663 shares of the business services provider’s stock valued at $11,997,000 after acquiring an additional 6,338 shares during the period. Institutional investors and hedge funds own 90.43% of the company’s stock.

Clean Harbors Stock Down 4.8%

NYSE CLH opened at $275.56 on Friday. The company has a market cap of $14.58 billion, a price-to-earnings ratio of 37.85 and a beta of 0.93. The company has a current ratio of 2.33, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. Clean Harbors, Inc. has a 1-year low of $178.29 and a 1-year high of $298.12. The company has a 50 day moving average of $274.41 and a 200-day moving average of $246.41.

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

Insider Buying and Selling

In related news, Director Marcy L. Reed sold 836 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $287.94, for a total value of $240,717.84. Following the completion of the transaction, the director owned 5,081 shares in the company, valued at $1,463,023.14. This trade represents a 14.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eric J. Dugas sold 2,788 shares of Clean Harbors stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $281.31, for a total transaction of $784,292.28. Following the sale, the chief financial officer owned 15,933 shares in the company, valued at approximately $4,482,112.23. This represents a 14.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,597 shares of company stock valued at $3,895,286 over the last three months. Insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CLH. Robert W. Baird set a $300.00 target price on shares of Clean Harbors in a research note on Thursday, February 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Clean Harbors in a report on Monday, December 29th. Needham & Company LLC upped their target price on Clean Harbors from $290.00 to $308.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Citigroup raised their target price on Clean Harbors from $274.00 to $302.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Finally, UBS Group boosted their price target on shares of Clean Harbors from $240.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Two equities research 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $299.27.

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.