Legato Capital Management LLC Cuts Stock Holdings in Clean Harbors, Inc. (NYSE:CLH)

Legato Capital Management LLC cut its stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 60.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,367 shares of the business services provider's stock after selling 5,229 shares during the period. Legato Capital Management LLC's holdings in Clean Harbors were worth $664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CLH. Pictet Asset Management Holding SA raised its stake in shares of Clean Harbors by 72.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,658,128 shares of the business services provider's stock worth $381,602,000 after buying an additional 697,630 shares during the last quarter. Norges Bank acquired a new position in Clean Harbors during the fourth quarter worth $136,974,000. Wellington Management Group LLP raised its position in Clean Harbors by 17.2% during the fourth quarter. Wellington Management Group LLP now owns 4,044,092 shares of the business services provider's stock worth $930,707,000 after acquiring an additional 592,341 shares in the last quarter. First Trust Advisors LP raised its position in Clean Harbors by 46.7% during the fourth quarter. First Trust Advisors LP now owns 369,941 shares of the business services provider's stock worth $85,138,000 after acquiring an additional 117,718 shares in the last quarter. Finally, LBP AM SA raised its position in shares of Clean Harbors by 137.4% in the first quarter. LBP AM SA now owns 193,639 shares of the business services provider's stock valued at $38,166,000 after purchasing an additional 112,073 shares during the period. 90.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Eric W. Gerstenberg sold 8,076 shares of Clean Harbors stock in a transaction on Friday, June 6th. The shares were sold at an average price of $225.23, for a total value of $1,818,957.48. Following the completion of the sale, the chief executive officer owned 51,619 shares of the company's stock, valued at approximately $11,626,147.37. This trade represents a 13.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alison A. Quirk sold 893 shares of Clean Harbors stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $223.69, for a total transaction of $199,755.17. Following the completion of the sale, the director directly owned 2,978 shares of the company's stock, valued at approximately $666,148.82. The trade was a 23.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,112 shares of company stock worth $3,416,406 over the last ninety days. 5.60% of the stock is owned by company insiders.

Clean Harbors Trading Up 1.9%

Shares of NYSE:CLH traded up $4.35 during mid-day trading on Friday, hitting $235.28. The company had a trading volume of 357,967 shares, compared to its average volume of 341,567. The firm has a fifty day moving average price of $228.82 and a 200 day moving average price of $220.09. The company has a market capitalization of $12.61 billion, a PE ratio of 32.59 and a beta of 1.16. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.37 and a quick ratio of 1.98. Clean Harbors, Inc. has a one year low of $178.29 and a one year high of $267.11.

Clean Harbors (NYSE:CLH - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.07. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.44 billion. Clean Harbors had a net margin of 6.58% and a return on equity of 15.47%. Clean Harbors's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 EPS. As a group, research analysts forecast that Clean Harbors, Inc. will post 7.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Raymond James Financial dropped their price objective on shares of Clean Harbors from $280.00 to $278.00 and set a "strong-buy" rating on the stock in a research report on Tuesday. Truist Financial reduced their price target on shares of Clean Harbors from $270.00 to $250.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird raised their price objective on shares of Clean Harbors from $250.00 to $255.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Wall Street Zen upgraded shares of Clean Harbors from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Finally, UBS Group lowered their price target on shares of Clean Harbors from $240.00 to $205.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $259.70.

Clean Harbors Company Profile

Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.