Sun Sep 15 14:25:16 UTC 2024: ## DekaBank Cuts Stake in Clean Harbors as Institutional Investors Adjust Positions
**New York, NY -** DekaBank Deutsche Girozentrale, a major German institutional investor, trimmed its holdings in Clean Harbors, Inc. (NYSE: CLH) by 5.6% during the second quarter, according to a recent filing with the Securities and Exchange Commission. The bank now owns 170,000 shares of the environmental and industrial services provider, valued at $38,846,000.
This move comes amidst a flurry of activity from other institutional investors in Clean Harbors. While DekaBank reduced its position, Grayhawk Investment Strategies Inc., Capstone Investment Advisors LLC, and Mountain Pacific Investment Advisers Inc. ID all initiated new stakes in the company during recent quarters. Perpetual Ltd also increased its holding in Clean Harbors by 9.6% during the first quarter, while Wellington Management Group LLP expanded its position by 5.3% in the fourth quarter.
The overall sentiment towards Clean Harbors seems positive, with 90.43% of its stock owned by hedge funds and other institutional investors.
Research analysts are also generally bullish on the company. Needham & Company LLC, Oppenheimer, Robert W. Baird, Truist Financial, and StockNews.com have all recently raised their price targets on Clean Harbors. Currently, the stock has a consensus rating of “Buy” with an average price target of $242.40, according to MarketBeat.com.
Clean Harbors’ recent performance has been strong, with the company reporting $2.46 earnings per share for the quarter ending July 31st, exceeding analysts’ expectations. The company’s revenue also grew by 10.9% year-over-year.
This combination of positive factors from both institutional investors and analysts suggests that Clean Harbors remains a strong investment opportunity, despite DekaBank’s recent move to reduce its position.
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