Eric Gerstenberg Sells 2,500 Shares of Clean Harbors (NYSE:CLH) Stock

Key Points

• CEO Eric Gerstenberg sold 2,500 Clean Harbors shares at an average price of $321.34, generating $803,350. Following the transaction, he retained 56,793 shares valued at approximately $18.25 million.
• Clean Harbors reported quarterly EPS of $3.22, beating estimates of $2.81, while revenue rose 11.9% year over year to $1.74 billion.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $354.57. Institutional investors own approximately 90.43% of the company.

Clean Harbors, Inc. (NYSE:CLH - Get Free Report) CEO Eric Gerstenberg sold 2,500 shares of the business's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $321.34, for a total value 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. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Clean Harbors Price Performance

Shares of CLH stock traded down $7.62 during mid-day trading on Tuesday, reaching $318.43. The stock had a trading volume of 241,450 shares, compared to its average volume of 512,145. Clean Harbors, Inc. has a 12-month low of $201.34 and a 12-month high of $335.94. The company has a market cap of $16.81 billion, a P/E ratio of 38.69, a price-to-earnings-growth ratio of 2.12 and a beta of 0.86. The business has a 50-day simple moving average of $302.52 and a 200 day simple moving average of $293.06. The company has a current ratio of 2.13, a quick ratio of 1.80 and a debt-to-equity ratio of 0.94.

Clean Harbors (NYSE:CLH - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.41. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.64 billion. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%.The business's revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.36 EPS. On average, sell-side analysts anticipate that Clean Harbors, Inc. will post 9.51 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC increased its position in shares of Clean Harbors by 102.9% in the first quarter. Integrated Wealth Concepts LLC now owns 2,187 shares of the business services provider's stock worth $431,000 after acquiring an additional 1,109 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Clean Harbors by 47.7% during the 1st quarter. Jones Financial Companies Lllp now owns 607 shares of the business services provider's stock worth $120,000 after purchasing an additional 196 shares during the period. Goldman Sachs Group Inc. boosted its position in Clean Harbors by 12.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 54,577 shares of the business services provider's stock worth $10,757,000 after purchasing an additional 5,884 shares during the period. Russell Investments Group Ltd. increased its holdings in Clean Harbors by 65.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,837 shares of the business services provider's stock valued at $1,118,000 after purchasing an additional 1,908 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in Clean Harbors by 1.4% in the 2nd quarter. Baird Financial Group Inc. now owns 4,418 shares of the business services provider's stock valued at $1,021,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 90.43% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Stifel Nicolaus raised their price target on shares of Clean Harbors from $337.00 to $364.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Clean Harbors from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Clean Harbors in a research report on Wednesday, July 29th. Truist Financial increased their price target on shares of Clean Harbors from $350.00 to $365.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Finally, Barclays boosted their price objective on shares of Clean Harbors from $305.00 to $325.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $354.57.

Clean Harbors Company Profile

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.

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