Clean Harbors, Inc. $CLH Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon trimmed its Clean Harbors stake by 2.3% in the fourth quarter, selling 9,284 shares and ending with 398,460 shares worth about $93.4 million.
• Clean Harbors reported better-than-expected earnings of $1.19 per share for the latest quarter, topping estimates by $0.04, while revenue rose 1.9% year over year to $1.46 billion.
• Despite some recent insider selling, Wall Street sentiment remains constructive: analysts currently rate the stock Moderate Buy on average, with a consensus price target of $323.23.

Bank of New York Mellon Corp reduced its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,460 shares of the business services provider's stock after selling 9,284 shares during the quarter. Bank of New York Mellon Corp owned about 0.75% of Clean Harbors worth $93,431,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bridges Investment Management Inc. raised its stake in Clean Harbors by 5.2% during the 4th quarter. Bridges Investment Management Inc. now owns 10,416 shares of the business services provider's stock worth $2,442,000 after acquiring an additional 516 shares in the last quarter. Dynasty Wealth Management LLC purchased a new position in Clean Harbors during the 4th quarter worth $235,000. Norges Bank purchased a new position in Clean Harbors during the 4th quarter worth $152,195,000. Acorn Wealth Advisors LLC grew its position in 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 last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Clean Harbors during the 4th quarter worth $7,504,000. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Clean Harbors Stock Performance

NYSE:CLH opened at $278.33 on Tuesday. The firm has a 50 day simple moving average of $294.96 and a 200-day simple moving average of $271.63. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.34 and a quick ratio of 1.99. The firm has a market cap of $14.71 billion, a PE ratio of 37.71 and a beta of 0.87. Clean Harbors, Inc. has a 1-year low of $201.34 and a 1-year high of $316.98.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The business services provider reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. Clean Harbors had a net margin of 6.53% and a return on equity of 14.37%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the business posted $1.09 earnings per share. The company's revenue was up 1.9% on a year-over-year basis. On average, equities analysts expect that Clean Harbors, Inc. will post 8.5 EPS for the current year.

Insider Activity at Clean Harbors

In related news, Director Lauren States sold 789 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $286.19, for a total value of $225,803.91. Following the completion of the sale, the director directly owned 11,359 shares in the company, valued at approximately $3,250,832.21. The trade was a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric W. Gerstenberg sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $293.00, for a total transaction of $293,000.00. Following the completion of the sale, the chief executive officer owned 38,877 shares of the company's stock, valued at approximately $11,390,961. The trade was a 2.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,308 shares of company stock valued at $2,133,467 in the last ninety days. 5.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CLH has been the topic of several analyst reports. Citigroup raised shares of Clean Harbors from a "neutral" rating to a "buy" rating and lifted their target price for the company from $302.00 to $346.00 in a report on Wednesday, April 8th. Oppenheimer lifted their target price on shares of Clean Harbors from $310.00 to $316.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. UBS Group lifted their target price on shares of Clean Harbors from $300.00 to $315.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. Robert W. Baird lifted their target price on shares of Clean Harbors from $300.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. Finally, Wells Fargo & Company raised their price objective on shares of Clean Harbors from $309.00 to $313.00 and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $323.23.

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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