Bank of America Corp DE Takes $142.80 Million Position in Clean Harbors, Inc. $CLH

Bank of America Corp DE purchased a new stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 477,994 shares of the business services provider's stock, valued at approximately $142,801,000. Bank of America Corp DE owned 0.91% of Clean Harbors as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Assetmark Inc. raised its stake in Clean Harbors by 8.9% during the first quarter. Assetmark Inc. now owns 430 shares of the business services provider's stock worth $123,000 after acquiring an additional 35 shares during the period. NewEdge Advisors LLC boosted its stake in Clean Harbors by 2.6% in the first quarter. NewEdge Advisors LLC now owns 1,995 shares of the business services provider's stock valued at $572,000 after acquiring an additional 50 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in shares of Clean Harbors by 2.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,121 shares of the business services provider's stock valued at $608,000 after purchasing an additional 59 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Clean Harbors by 0.6% during the first quarter. EverSource Wealth Advisors LLC now owns 9,948 shares of the business services provider's stock valued at $2,852,000 after purchasing an additional 61 shares during the last quarter. Finally, Acorn Wealth Advisors LLC raised its position in shares of Clean Harbors by 6.9% during the 4th quarter. Acorn Wealth Advisors LLC now owns 1,007 shares of the business services provider's stock worth $236,000 after purchasing an additional 65 shares during the period. Institutional investors own 90.43% of the company's stock.

Clean Harbors Stock Down 0.9%

CLH opened at $316.02 on Friday. The stock's 50 day moving average price is $313.61 and its 200 day moving average price is $300.31. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.13 and a quick ratio of 1.80. The stock has a market cap of $16.68 billion, a P/E ratio of 38.35, a P/E/G ratio of 2.06 and a beta of 0.85. Clean Harbors, Inc. has a 12 month low of $201.34 and a 12 month high of $335.94.

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. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%.The company had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter in the prior year, the business posted $2.36 earnings per share. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, research analysts predict that Clean Harbors, Inc. will post 9.73 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on CLH shares. Citigroup raised their price target on Clean Harbors from $349.00 to $376.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. TD Cowen increased their target price on Clean Harbors from $335.00 to $380.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Needham & Company LLC raised their target price on Clean Harbors from $325.00 to $390.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Oppenheimer reissued an "outperform" rating and set a $350.00 price target on shares of Clean Harbors in a report on Thursday, July 30th. Finally, Bank of America set a $377.00 price target on shares of Clean Harbors and gave the stock a "buy" rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Clean Harbors presently has an average rating of "Moderate Buy" and an average price target of $354.57.

Insider Activity

In other Clean Harbors news, Director Andrea Robertson sold 789 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $314.01, for a total transaction of $247,753.89. Following the transaction, the director owned 8,979 shares of the company's stock, valued at approximately $2,819,495.79. This trade represents a 8.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric Gerstenberg sold 2,500 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $321.34, for a total transaction of $803,350.00. Following the sale, the chief executive officer owned 56,793 shares in the company, valued at $18,249,862.62. This trade represents a 4.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.00% of the stock is currently owned by company insiders.

About Clean Harbors

Clean Harbors, Inc provides environmental, energy and industrial services throughout the United States and Canada. The company manages hazardous and non-hazardous waste through services that include collection, transportation, treatment, disposal, recycling and incineration. It also provides emergency spill response, wastewater treatment and specialized environmental remediation.

Through its industrial services operations, Clean Harbors supports refineries, chemical plants, utilities, manufacturers and other industrial customers with maintenance, cleaning, turnaround and specialty services.

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