Algebris UK Ltd Cuts Stock Holdings in Clean Harbors, Inc. (NYSE:CLH)

Key Points

• Algebris UK Ltd significantly reduced its stake in Clean Harbors, Inc. by 78.9%, ending the quarter with just 1,217 shares valued at $222,000.
• Clean Harbors reported earnings per share of $1.09 for the last quarter, surpassing analyst expectations of $1.02, despite revenue falling short of forecasts at $1.43 billion.
• Various analysts have adjusted their price targets for Clean Harbors, with estimates ranging from $205 to $255, while the overall consensus rating is a Moderate Buy.

Algebris UK Ltd trimmed its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 78.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,217 shares of the business services provider's stock after selling 4,553 shares during the period. Algebris UK Ltd's holdings in Clean Harbors were worth $222,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Kapitalo Investimentos Ltda purchased a new position in shares of Clean Harbors during the 4th quarter worth about $32,000. Blue Trust Inc. boosted its stake in shares of Clean Harbors by 25.8% during the 1st quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock worth $54,000 after purchasing an additional 56 shares during the period. Physician Wealth Advisors Inc. purchased a new position in shares of Clean Harbors during the 4th quarter worth about $56,000. Carolinas Wealth Consulting LLC boosted its stake in shares of Clean Harbors by 2,800.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 261 shares of the business services provider's stock worth $60,000 after purchasing an additional 252 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of Clean Harbors by 24.6% during the 1st quarter. UMB Bank n.a. now owns 349 shares of the business services provider's stock worth $69,000 after purchasing an additional 69 shares during the period. 90.43% of the stock is owned by hedge funds and other institutional investors.

Clean Harbors Stock Performance

CLH opened at $234.50 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.37 and a debt-to-equity ratio of 1.08. The company has a market cap of $12.56 billion, a price-to-earnings ratio of 32.48 and a beta of 1.16. Clean Harbors, Inc. has a 52-week low of $178.29 and a 52-week high of $267.11. The firm's fifty day simple moving average is $228.87 and its two-hundred day simple moving average is $219.98.

Clean Harbors (NYSE:CLH - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.07. Clean Harbors had a net margin of 6.58% and a return on equity of 15.47%. The firm had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same period last year, the business earned $1.29 earnings per share. Clean Harbors's revenue was up 4.0% compared to the same quarter last year. Equities analysts anticipate that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Robert W. Baird raised their price target on Clean Harbors from $250.00 to $255.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Wall Street Zen raised shares of Clean Harbors from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Truist Financial lowered their price objective on shares of Clean Harbors from $270.00 to $250.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC lowered their price objective on shares of Clean Harbors from $268.00 to $255.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, UBS Group lowered their price objective on shares of Clean Harbors from $240.00 to $205.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Clean Harbors presently has a consensus rating of "Moderate Buy" and a consensus target price of $259.70.

Insider Transactions at Clean Harbors

In related news, Director Alison A. Quirk sold 893 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $223.69, for a total value of $199,755.17. Following the sale, the director directly owned 2,978 shares in the company, valued at $666,148.82. The trade was a 23.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John R. Welch sold 1,250 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $228.51, for a total transaction of $285,637.50. Following the completion of the transaction, the director owned 11,402 shares in the company, valued at approximately $2,605,471.02. This trade represents a 9.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,112 shares of company stock worth $3,416,406 over the last 90 days. Company insiders own 5.60% of the company's stock.

About Clean Harbors

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.

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