Bank of America Corp DE Has $89.43 Million Stake in Clean Harbors, Inc. $CLH

Key Points

• Bank of America reduced its Clean Harbors stake by 24.1% in the first quarter, selling 99,157 shares and retaining 311,907 shares valued at $89.43 million. Institutional investors collectively own 90.43% of the company.
• Analysts remain generally positive, with Clean Harbors carrying a “Moderate Buy” consensus rating and an average price target of $354.57, above its reported opening price of $308.17.
• Clean Harbors exceeded quarterly expectations, reporting $3.22 in EPS versus the $2.81 consensus and $1.74 billion in revenue, up 11.9% year over year. Two directors recently sold shares, while insiders own approximately 5% of the stock.

Bank of America Corp DE lowered its position in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 24.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 311,907 shares of the business services provider's stock after selling 99,157 shares during the period. Bank of America Corp DE owned about 0.59% of Clean Harbors worth $89,433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Elyxium Wealth LLC bought a new stake in shares of Clean Harbors during the fourth quarter worth about $26,000. Quattro Advisors LLC acquired a new position in shares of Clean Harbors in the fourth quarter valued at approximately $26,000. MidFirst Bank bought a new position in Clean Harbors in the 4th quarter valued at approximately $28,000. Parkside Financial Bank & Trust raised its holdings in Clean Harbors by 205.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 119 shares of the business services provider's stock valued at $28,000 after buying an additional 80 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in Clean Harbors by 676.5% during the 4th quarter. Larson Financial Group LLC now owns 132 shares of the business services provider's stock worth $31,000 after buying an additional 115 shares during the period. Institutional investors and hedge funds own 90.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Clean Harbors from $337.00 to $364.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. UBS Group raised their price target on shares of Clean Harbors from $300.00 to $315.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Raymond James Financial reiterated a "strong-buy" rating and set a $375.00 price target on shares of Clean Harbors in a report on Thursday, July 30th. Robert W. Baird boosted their price objective on shares of Clean Harbors from $300.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. Finally, Wells Fargo & Company increased their price objective on Clean Harbors from $313.00 to $349.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $354.57.

Clean Harbors Stock Performance

NYSE:CLH opened at $308.17 on Friday. The company has a market capitalization of $16.27 billion, a PE ratio of 37.40, a P/E/G ratio of 2.03 and a beta of 0.86. The company has a 50 day simple moving average of $298.21 and a two-hundred day simple moving average of $290.42. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.80 and a current ratio of 2.13. Clean Harbors, Inc. has a fifty-two week low of $201.34 and a fifty-two week high of $335.94.

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

Insiders Place Their Bets

In related news, Director Andrea Robertson sold 789 shares of Clean Harbors stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $314.01, for a total transaction of $247,753.89. Following the completion of the transaction, the director owned 8,979 shares of the company's stock, valued at $2,819,495.79. This trade represents a 8.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren States sold 789 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $286.19, for a total transaction of $225,803.91. Following the completion of the transaction, the director owned 11,359 shares in the company, valued at approximately $3,250,832.21. The trade was a 6.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.00% of the stock is owned by company insiders.

About Clean Harbors

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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