Nordea Investment Management AB Makes New $108.61 Million Investment in Clean Harbors, Inc. $CLH

Nordea Investment Management AB bought a new stake in shares of Clean Harbors, Inc. (NYSE:CLH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 471,206 shares of the business services provider’s stock, valued at approximately $108,608,000. Nordea Investment Management AB owned about 0.88% of Clean Harbors at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CLH. Golden State Wealth Management LLC increased its position in shares of Clean Harbors by 145.3% during the second quarter. Golden State Wealth Management LLC now owns 184 shares of the business services provider’s stock worth $43,000 after purchasing an additional 109 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in Clean Harbors during the 3rd quarter worth $44,000. First Horizon Corp acquired a new stake in Clean Harbors during the 3rd quarter worth $44,000. Ameritas Advisory Services LLC purchased a new stake in shares of Clean Harbors during the second quarter worth $48,000. Finally, SJS Investment Consulting Inc. raised its position in shares of Clean Harbors by 2,985.7% in the third quarter. SJS Investment Consulting Inc. now owns 216 shares of the business services provider’s stock valued at $50,000 after buying an additional 209 shares during the last quarter. 90.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Clean Harbors

In other news, CEO Eric W. Gerstenberg sold 601 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $240.90, for a total transaction of $144,780.90. Following the completion of the transaction, the chief executive officer directly owned 50,454 shares in the company, valued at approximately $12,154,368.60. This represents a 1.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.60% of the stock is currently owned by company insiders.

Clean Harbors Stock Performance

NYSE:CLH opened at $253.47 on Wednesday. The company’s 50-day moving average is $230.62 and its two-hundred day moving average is $233.62. Clean Harbors, Inc. has a 1-year low of $178.29 and a 1-year high of $257.42. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.44 and a quick ratio of 2.09. The firm has a market capitalization of $13.54 billion, a price-to-earnings ratio of 35.15 and a beta of 0.95.

Clean Harbors (NYSE:CLH) last released its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.21 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.16). Clean Harbors had a net margin of 6.51% and a return on equity of 14.61%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the firm posted $2.12 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. Analysts forecast that Clean Harbors, Inc. will post 7.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Zacks Research downgraded shares of Clean Harbors from a “hold” rating to a “strong sell” rating in a research note on Friday, October 31st. Barclays cut their price objective on shares of Clean Harbors from $253.00 to $230.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Citigroup initiated coverage on Clean Harbors in a report on Wednesday, December 10th. They set a “neutral” rating and a $263.00 target price on the stock. Wells Fargo & Company began coverage on Clean Harbors in a research report on Thursday, November 13th. They issued an “equal weight” rating and a $220.00 price target for the company. Finally, Raymond James Financial reduced their price objective on Clean Harbors from $277.00 to $270.00 and set a “strong-buy” rating on the stock in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $250.08.

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.