Bank of New York Mellon Corp Grows Holdings in Clean Harbors, Inc. (NYSE:CLH)

Bank of New York Mellon Corp increased its position in Clean Harbors, Inc. (NYSE:CLH) by 6.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 454,692 shares of the business services provider’s stock after acquiring an additional 28,423 shares during the quarter. Bank of New York Mellon Corp’s holdings in Clean Harbors were worth $102,828,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in Clean Harbors in the 1st quarter worth approximately $27,000. National Bank of Canada FI bought a new position in Clean Harbors in the 4th quarter worth approximately $34,000. GAMMA Investing LLC boosted its stake in Clean Harbors by 47.9% in the 1st quarter. GAMMA Investing LLC now owns 173 shares of the business services provider’s stock worth $35,000 after purchasing an additional 56 shares during the period. Creekmur Asset Management LLC bought a new position in Clean Harbors in the 4th quarter worth approximately $50,000. Finally, Blue Trust Inc. boosted its stake in Clean Harbors by 117.7% in the 2nd quarter. Blue Trust Inc. now owns 320 shares of the business services provider’s stock worth $72,000 after purchasing an additional 173 shares during the period. 90.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Alan S. Mckim sold 50,000 shares of Clean Harbors stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $215.51, for a total transaction of $10,775,500.00. Following the completion of the sale, the insider now directly owns 2,494,211 shares in the company, valued at $537,527,412.61. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CLH. Stifel Nicolaus reiterated a “buy” rating and set a $275.00 target price (up from $240.00) on shares of Clean Harbors in a research report on Thursday, August 1st. Robert W. Baird increased their target price on Clean Harbors from $242.00 to $268.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Oppenheimer increased their target price on Clean Harbors from $245.00 to $252.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. BMO Capital Markets increased their target price on Clean Harbors from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, Truist Financial increased their target price on Clean Harbors from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $242.40.

Clean Harbors Stock Up 0.1 %

NYSE CLH opened at $244.37 on Wednesday. The company has a quick ratio of 1.72, a current ratio of 2.10 and a debt-to-equity ratio of 1.14. The company has a fifty day moving average of $230.67 and a two-hundred day moving average of $211.03. The firm has a market capitalization of $13.18 billion, a price-to-earnings ratio of 35.36 and a beta of 1.21. Clean Harbors, Inc. has a 52 week low of $132.92 and a 52 week high of $247.24.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.46 EPS for the quarter, topping the consensus estimate of $2.21 by $0.25. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. Clean Harbors had a net margin of 6.97% and a return on equity of 17.12%. Clean Harbors’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.13 earnings per share. On average, analysts predict that Clean Harbors, Inc. will post 7.56 earnings per share for the current year.

Clean Harbors Profile

Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.