Clean Harbors, Inc. $CLH Shares Sold by Comerica Bank

Key Points

• Comerica Bank cut its stake in Clean Harbors by 84.1% in Q4, selling 79,255 shares and retaining 14,937 shares worth $3.50 million per the latest 13F filing.
• Company insiders sold a total of 13,597 shares (~$3.90 million) in the past three months, including EVP Brian P. Weber (4,683 shares at $293.39) and CEO Eric W. Gerstenberg (1,000 shares at $293), leaving insiders with about 5% ownership.
• Analysts have raised price targets and the stock carries an average consensus rating of Moderate Buy with a $314 target, and Clean Harbors slightly beat Q4 estimates (EPS $1.62 vs $1.59; revenue $1.50B vs $1.46B).

Comerica Bank reduced its position in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 84.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,937 shares of the business services provider's stock after selling 79,255 shares during the quarter. Comerica Bank's holdings in Clean Harbors were worth $3,502,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Root Financial Partners LLC acquired a new position in Clean Harbors in the 3rd quarter valued at about $30,000. V Square Quantitative Management LLC acquired a new position in Clean Harbors in the 4th quarter valued at about $34,000. True Wealth Design LLC grew its position in Clean Harbors by 102.7% in the 4th quarter. True Wealth Design LLC now owns 152 shares of the business services provider's stock valued at $36,000 after acquiring an additional 77 shares in the last quarter. Bayforest Capital Ltd acquired a new position in Clean Harbors in the 3rd quarter valued at about $44,000. Finally, First Horizon Corp acquired a new position in Clean Harbors in the 3rd quarter valued at about $44,000. 90.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on CLH. Needham & Company LLC lifted their target price on Clean Harbors from $290.00 to $308.00 and gave the company a "buy" rating in a research report on Thursday, February 19th. UBS Group lifted their target price on Clean Harbors from $240.00 to $300.00 and gave the company a "neutral" rating in a research report on Thursday, March 12th. BMO Capital Markets lifted their target price on Clean Harbors from $290.00 to $310.00 and gave the company an "outperform" rating in a research report on Wednesday, February 18th. Barclays lifted their target price on Clean Harbors from $230.00 to $280.00 and gave the company an "equal weight" rating in a research report on Monday, February 23rd. Finally, Zacks Research raised Clean Harbors from a "strong sell" rating to a "hold" rating in a research report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $314.00.

Insider Buying and Selling

In other Clean Harbors news, EVP Brian P. Weber sold 4,683 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $293.39, for a total value of $1,373,945.37. Following the transaction, the executive vice president directly owned 48,728 shares in the company, valued at $14,296,307.92. This represents a 8.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric W. Gerstenberg sold 1,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $293.00, for a total value of $293,000.00. Following the completion of the sale, the chief executive officer directly owned 38,877 shares of the company's stock, valued at $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 sold a total of 13,597 shares of company stock valued at $3,895,286 over the last three months. 5.00% of the stock is currently owned by insiders.

Clean Harbors Stock Performance

Shares of Clean Harbors stock opened at $311.29 on Monday. Clean Harbors, Inc. has a one year low of $201.34 and a one year high of $316.98. The company has a market cap of $16.59 billion, a PE ratio of 42.76 and a beta of 0.92. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.33. The business has a 50-day simple moving average of $294.02 and a 200-day simple moving average of $259.49.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The business services provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.59 by $0.03. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. Clean Harbors had a net margin of 6.48% and a return on equity of 14.47%. The firm's revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 earnings per share. On average, equities research analysts forecast that Clean Harbors, Inc. will post 8.25 EPS for the current fiscal year.

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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