While capital appreciation is the main goal for most investors when it comes to investing their money, some investors want their investments to do more than just multiply their money. For those investors, we at Insider Monkey routinely come up with a list of top environmental stocks based on how popular these stocks were among smart money investors from our database at the end of a given quarter. We track prominent investors and hedge funds because our research has shown that historically their stock picks delivered superior risk-adjusted returns. This is especially true in the small-cap space. The 15 most popular small-cap stocks among a select group of investors delivered a monthly alpha of 80 basis points between 1999 and 2012 (see the details here). Having said that, in this post we will focus on the top five environmental stocks among hedge funds tracked by us heading into 2016.
#5 Clean Harbors Inc (NYSE:CLH)
– Investors with Long Positions (as of December 31): 18
– Aggregate Value of Investors’ Holdings (as of December 31): $182.4 million
The ownership of Clean Harbors Inc (NYSE:CLH) among hedge funds tracked by Insider Monkey decreased by four and the aggregate value of their holdings saw a decline of 37.7% during the fourth quarter. However, the funds that sold off their stakes in the company last quarter might regret the decision as shares of Clean Harbors Inc (NYSE:CLH) have appreciated by 13.5% so far this year. Nearly all of the year-to-date gains came after the company reported its fourth quarter numbers recently and despite the numbers being below expectations. While analysts were expecting EPS of $0.12 on revenue of $741.30 million, Clean Harbors reported EPS of $0.01 on revenue of $713 million. On March 14, the company announced that was planning to commence an add-on offering of $200 million aggregate principal amount of its 5.125% Senior Notes due 2021. Billionaire Jim Simons‘ Renaissance Technologies made an almost four-fold increase in its stake in Clean Harbors Inc to 572,890 shares during the October-December period.