NewEdge Advisors LLC Cuts Holdings in Clean Harbors, Inc. (NYSE:CLH)

NewEdge Advisors LLC lowered its holdings in Clean Harbors, Inc. (NYSE:CLH) by 3.8% in the 2nd quarter, Holdings Channel reports. The firm owned 9,479 shares of the business services provider’s stock after selling 377 shares during the period. NewEdge Advisors LLC’s holdings in Clean Harbors were worth $2,144,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC bought a new position in Clean Harbors during the second quarter valued at approximately $25,000. Rise Advisors LLC bought a new position in shares of Clean Harbors during the 1st quarter valued at $27,000. GAMMA Investing LLC boosted its stake in shares of 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 buying an additional 56 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in shares of Clean Harbors in the fourth quarter worth $50,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in Clean Harbors during the second quarter valued at $56,000. 90.43% of the stock is owned by institutional investors.

Insider Activity at Clean Harbors

In other Clean Harbors news, CEO Michael Louis Battles sold 10,000 shares of Clean Harbors stock in a transaction on Monday, September 16th. The shares were sold at an average price of $245.74, for a total value of $2,457,400.00. Following the sale, the chief executive officer now directly owns 77,136 shares in the company, valued at approximately $18,955,400.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Lauren States sold 309 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $244.09, for a total transaction of $75,423.81. Following the completion of the transaction, the director now directly owns 13,458 shares in the company, valued at approximately $3,284,963.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Louis Battles sold 10,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $245.74, for a total transaction of $2,457,400.00. Following the completion of the sale, the chief executive officer now owns 77,136 shares in the company, valued at $18,955,400.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CLH has been the topic of several research reports. Robert W. Baird raised their target price on Clean Harbors from $242.00 to $268.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. StockNews.com raised shares of Clean Harbors from a “buy” rating to a “strong-buy” rating in a report on Friday, September 27th. Oppenheimer upped their target price on shares of Clean Harbors from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Needham & Company LLC lifted their price target on shares of Clean Harbors from $235.00 to $274.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Truist Financial boosted their price objective on shares of Clean Harbors from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Clean Harbors presently has an average rating of “Buy” and a consensus target price of $242.40.

Clean Harbors Stock Up 0.8 %

Shares of CLH stock opened at $245.56 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.10 and a quick ratio of 1.76. Clean Harbors, Inc. has a one year low of $132.92 and a one year high of $251.65. The company’s fifty day moving average price is $238.93 and its 200-day moving average price is $221.28. The company has a market capitalization of $13.24 billion, a price-to-earnings ratio of 35.53 and a beta of 1.20.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.25. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Clean Harbors had a return on equity of 17.12% and a net margin of 6.97%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm earned $2.13 earnings per share. Sell-side analysts expect that Clean Harbors, Inc. will post 7.65 EPS for the current fiscal 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.