PNC Financial Services Group Inc. Lowers Stake in Clean Harbors, Inc. (NYSE:CLH)

PNC Financial Services Group Inc. reduced its stake in shares of Clean Harbors, Inc. (NYSE:CLH) by 85.9% in the fourth quarter, Holdings Channel reports. The firm owned 4,664 shares of the business services provider’s stock after selling 28,491 shares during the period. PNC Financial Services Group Inc.’s holdings in Clean Harbors were worth $1,073,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Allworth Financial LP boosted its stake in shares of Clean Harbors by 130.4% during the fourth quarter. Allworth Financial LP now owns 182 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 103 shares during the period. Assetmark Inc. boosted its stake in shares of Clean Harbors by 10,250.0% during the fourth quarter. Assetmark Inc. now owns 207 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 205 shares during the period. Prospera Private Wealth LLC purchased a new stake in shares of Clean Harbors during the third quarter valued at $56,000. UMB Bank n.a. boosted its stake in shares of Clean Harbors by 30.8% during the fourth quarter. UMB Bank n.a. now owns 280 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 66 shares during the period. Finally, TD Private Client Wealth LLC boosted its stake in shares of Clean Harbors by 42.6% during the third quarter. TD Private Client Wealth LLC now owns 291 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 87 shares during the period. 90.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CLH shares. BMO Capital Markets decreased their price objective on Clean Harbors from $284.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. StockNews.com upgraded Clean Harbors from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. Truist Financial decreased their price objective on Clean Harbors from $280.00 to $270.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Stifel Nicolaus decreased their price objective on Clean Harbors from $290.00 to $285.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, Robert W. Baird decreased their price objective on Clean Harbors from $285.00 to $272.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $270.56.

Insider Transactions at Clean Harbors

In related news, insider Robert Speights sold 2,725 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $190.44, for a total value of $518,949.00. Following the sale, the insider now owns 40,008 shares in the company, valued at $7,619,123.52. This represents a 6.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eric J. Dugas bought 1,050 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $191.38 per share, for a total transaction of $200,949.00. Following the transaction, the chief financial officer now owns 24,238 shares of the company’s stock, valued at $4,638,668.44. The trade was a 4.53 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 3,341 shares of company stock worth $663,041. Insiders own 5.90% of the company’s stock.

Clean Harbors Stock Performance

Shares of Clean Harbors stock opened at $193.11 on Monday. The company has a market capitalization of $10.40 billion, a PE ratio of 26.03 and a beta of 1.22. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.76 and a current ratio of 2.21. The company has a 50-day simple moving average of $223.92 and a two-hundred day simple moving average of $238.27. Clean Harbors, Inc. has a one year low of $186.54 and a one year high of $267.11.

Clean Harbors (NYSE:CLH) last announced its earnings results on Wednesday, February 19th. The business services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.19. Clean Harbors had a net margin of 6.83% and a return on equity of 16.33%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the company posted $1.82 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Research analysts expect that Clean Harbors, Inc. will post 7.89 EPS for the current fiscal year.

Clean Harbors Company 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.