Bank of America Corp DE Cuts Position in Clean Harbors, Inc. (NYSE:CLH)

Bank of America Corp DE reduced its position in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 14.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 199,110 shares of the business services provider's stock after selling 32,675 shares during the quarter. Bank of America Corp DE owned 0.37% of Clean Harbors worth $45,823,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Clean Harbors by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 4,659,064 shares of the business services provider's stock valued at $1,072,237,000 after buying an additional 11,814 shares during the period. Wellington Management Group LLP increased its holdings in Clean Harbors by 17.2% during the fourth quarter. Wellington Management Group LLP now owns 4,044,092 shares of the business services provider's stock valued at $930,707,000 after buying an additional 592,341 shares during the period. Pictet Asset Management Holding SA increased its holdings in Clean Harbors by 72.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,658,128 shares of the business services provider's stock valued at $381,602,000 after buying an additional 697,630 shares during the period. Bessemer Group Inc. increased its holdings in Clean Harbors by 0.9% during the fourth quarter. Bessemer Group Inc. now owns 1,095,163 shares of the business services provider's stock valued at $252,042,000 after buying an additional 9,595 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Clean Harbors by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 676,894 shares of the business services provider's stock valued at $155,784,000 after acquiring an additional 15,888 shares in the last quarter. 90.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Clean Harbors

In related news, CFO Eric J. Dugas bought 1,050 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average cost of $191.38 per share, with a total value of $200,949.00. Following the transaction, the chief financial officer now directly owns 24,238 shares of the company's stock, valued at approximately $4,638,668.44. This represents a 4.53% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert Speights sold 2,725 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $190.44, for a total transaction of $518,949.00. Following the sale, the insider now owns 40,008 shares of the company's stock, valued at approximately $7,619,123.52. This represents a 6.38% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CLH shares. UBS Group lowered their target price on shares of Clean Harbors from $240.00 to $205.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Robert W. Baird raised their target price on shares of Clean Harbors from $250.00 to $255.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. The Goldman Sachs Group lowered their price objective on shares of Clean Harbors from $250.00 to $220.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Needham & Company LLC cut their target price on Clean Harbors from $268.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Truist Financial cut their target price on Clean Harbors from $270.00 to $250.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $257.67.

Clean Harbors Stock Up 0.8%

CLH traded up $1.76 during trading hours on Tuesday, hitting $234.22. 30,336 shares of the company's stock were exchanged, compared to its average volume of 348,167. Clean Harbors, Inc. has a 12-month low of $178.29 and a 12-month high of $267.11. The firm has a 50 day moving average of $206.97 and a 200 day moving average of $225.27. The firm has a market cap of $12.55 billion, a P/E ratio of 31.53 and a beta of 1.19. The company has a current ratio of 2.21, a quick ratio of 1.76 and a debt-to-equity ratio of 1.08.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.07. Clean Harbors had a net margin of 6.83% and a return on equity of 16.33%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the firm posted $1.29 EPS. The company's quarterly revenue was up 4.0% compared to the same quarter last year. Analysts predict that Clean Harbors, Inc. will post 7.89 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.