Clean Harbors, Inc. $CLH Shares Sold by Trinity Street Asset Management LLP

Key Points

• Trinity Street Asset Management trimmed its Clean Harbors stake by 6.6% in the first quarter, selling 7,786 shares and leaving it with 109,391 shares worth about $31.4 million.
• Other institutional investors were mostly adding to positions, and 90.43% of Clean Harbors stock is now owned by institutional investors and hedge funds.
• Clean Harbors reported Q1 earnings of $1.19 per share, topping estimates, while analysts currently have a Moderate Buy consensus with an average price target of $323.23.

Trinity Street Asset Management LLP lowered its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 6.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,391 shares of the business services provider's stock after selling 7,786 shares during the quarter. Clean Harbors accounts for about 2.2% of Trinity Street Asset Management LLP's portfolio, making the stock its 9th largest position. Trinity Street Asset Management LLP owned 0.21% of Clean Harbors worth $31,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CLH. Integrated Wealth Concepts LLC boosted its stake in shares of Clean Harbors by 102.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,187 shares of the business services provider's stock valued at $431,000 after buying an additional 1,109 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Clean Harbors by 47.7% during the first quarter. Jones Financial Companies Lllp now owns 607 shares of the business services provider's stock worth $120,000 after buying an additional 196 shares during the period. Goldman Sachs Group Inc. raised its holdings in Clean Harbors by 12.1% in the first quarter. Goldman Sachs Group Inc. now owns 54,577 shares of the business services provider's stock valued at $10,757,000 after acquiring an additional 5,884 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Clean Harbors by 65.1% in the second quarter. Russell Investments Group Ltd. now owns 4,837 shares of the business services provider's stock worth $1,118,000 after acquiring an additional 1,908 shares during the last quarter. Finally, Baird Financial Group Inc. grew its holdings in Clean Harbors by 1.4% during the 2nd quarter. Baird Financial Group Inc. now owns 4,418 shares of the business services provider's stock worth $1,021,000 after acquiring an additional 60 shares in the last quarter. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Clean Harbors news, Director Lauren States sold 789 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $286.19, for a total value of $225,803.91. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Clean Harbors from $309.00 to $313.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 7th. Truist Financial increased their target price on Clean Harbors from $310.00 to $325.00 and gave the company a "buy" rating in a report on Monday, April 20th. TD Cowen upped their price objective on Clean Harbors from $320.00 to $335.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Barclays boosted their target price on Clean Harbors from $280.00 to $304.00 and gave the stock an "equal weight" rating in a research note on Monday, May 11th. Finally, The Goldman Sachs Group upped their price target on Clean Harbors from $268.00 to $306.00 and gave the company a "neutral" rating in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $323.23.

Clean Harbors Stock Performance

Shares of CLH stock opened at $298.44 on Wednesday. The stock's 50-day moving average is $293.61 and its two-hundred day moving average is $278.78. The firm has a market cap of $15.77 billion, a price-to-earnings ratio of 40.44 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. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.99 and a current ratio of 2.34.

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

Clean Harbors 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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