Clean Harbors, Inc. $CLH Stock: Candriam S.C.A. Reduces Position

Candriam S.C.A. reduced its stake in Clean Harbors, Inc. (NYSE:CLH) by 9.1% in the third quarter, Holdings Channel.com reports. The fund owned 34,262 shares of the business services provider’s stock after selling 3,411 shares during the period. Candriam S.C.A.’s holdings in Clean Harbors were worth $10,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Reyes Financial Architecture Inc. bought a new stake in shares of Clean Harbors during the 3rd quarter valued at $31,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Clean Harbors in the 2nd quarter worth about $36,000. Elevation Wealth Partners LLC grew its holdings in Clean Harbors by 317.6% during the 3rd quarter. Elevation Wealth Partners LLC now owns 142 shares of the business services provider’s stock valued at $44,000 after buying an additional 108 shares in the last quarter. Pension & Wealth Management Advisors Inc. purchased a new position in Clean Harbors during the 3rd quarter valued at about $53,000. Finally, Root Financial Partners LLC bought a new stake in shares of Clean Harbors during the third quarter valued at about $87,000. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Eric Gerstenberg sold 2,500 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $321.34, for a total transaction of $803,350.00. Following the sale, the chief executive officer owned 56,793 shares in the company, valued at approximately $18,249,862.62. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Karyn Polito acquired 125 shares of the company’s stock in a transaction dated Thursday, October 29th. The shares were bought at an average cost of $314.83 per share, with a total value of $39,353.75. Following the completion of the acquisition, the director directly owned 4,252 shares in the company, valued at $1,338,657.16. The trade was a 3.03% increase in their position. The disclosure for this purchase is available in the SEC filing. 5.00% of the stock is owned by corporate insiders.

Clean Harbors Stock Up 1.0%

Shares of NYSE CLH opened at $286.93 on Tuesday. Clean Harbors, Inc. has a 12 month low of $201.34 and a 12 month high of $335.94. The company has a current ratio of 1.95, a quick ratio of 1.63 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $15.13 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.61 and a beta of 0.87. The business has a 50-day moving average of $313.01 and a 200-day moving average of $298.55.

Clean Harbors (NYSE:CLH) last announced its earnings results on Wednesday, October 28th. The business services provider reported $3.93 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.67. Clean Harbors had a net margin of 8.05% and a return on equity of 18.27%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $2.21 earnings per share. Clean Harbors’s quarterly revenue was up 20.7% on a year-over-year basis. Sell-side analysts expect that Clean Harbors, Inc. will post 10.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CLH has been the topic of a number of recent analyst reports. Raymond James Financial reissued a “strong-buy” rating on shares of Clean Harbors in a report on Thursday, October 29th. Truist Financial set a $365.00 price objective on shares of Clean Harbors in a research note on Thursday, October 29th. TD Cowen upped their target price on shares of Clean Harbors from $390.00 to $395.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Robert W. Baird set a $375.00 target price on shares of Clean Harbors in a research note on Thursday, October 29th. Finally, Stifel Nicolaus raised their price target on shares of Clean Harbors from $337.00 to $364.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.29.

Clean Harbors Profile

Clean Harbors, Inc provides environmental, industrial and hazardous waste management services to businesses and government organizations. Its services include the collection, transportation, treatment and disposal of hazardous and non-hazardous waste, as well as industrial cleaning and maintenance.

The company also offers emergency spill response and related environmental services. Through its Safety-Kleen operations, Clean Harbors collects and re-refines used oil and provides parts-cleaning and other environmental services to commercial and industrial customers.

Founded in 1980 and headquartered in Norwell, Massachusetts, Clean Harbors serves customers across North America.