Clean Harbors, Inc. (NYSE:CLH) Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Clean Harbors, Inc. by 0.7%, holding approximately 4.63 million shares valued at $912 million at the end of the first quarter.
• Clean Harbors reported $2.36 earnings per share for the latest quarter, beating analyst estimates, although revenue of $1.55 billion was slightly below expectations.
• Analysts have set new price targets for Clean Harbors, with estimates ranging from $240 to $280, reflecting a consensus rating of "Moderate Buy".

Vanguard Group Inc. decreased its position in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 0.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 4,627,280 shares of the business services provider's stock after selling 31,784 shares during the period. Vanguard Group Inc. owned about 8.64% of Clean Harbors worth $912,037,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Atria Wealth Solutions Inc. bought a new position in Clean Harbors during the first quarter worth $211,000. M.D. Sass LLC lifted its position in shares of Clean Harbors by 24.8% during the 1st quarter. M.D. Sass LLC now owns 347,335 shares of the business services provider's stock worth $68,460,000 after buying an additional 68,977 shares during the last quarter. Scotia Capital Inc. raised its position in Clean Harbors by 1.0% in the first quarter. Scotia Capital Inc. now owns 14,411 shares of the business services provider's stock valued at $2,840,000 after purchasing an additional 149 shares during the last quarter. R Squared Ltd bought a new position in Clean Harbors in the first quarter valued at about $207,000. Finally, PNC Financial Services Group Inc. raised its position in Clean Harbors by 4.7% in the first quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the business services provider's stock valued at $963,000 after purchasing an additional 221 shares during the last quarter. Institutional investors own 90.43% of the company's stock.

Clean Harbors Trading Down 1.5%

NYSE CLH traded down $3.69 during trading hours on Friday, hitting $243.36. 298,541 shares of the company were exchanged, compared to its average volume of 440,865. The stock has a market cap of $13.05 billion, a PE ratio of 34.18 and a beta of 1.18. The stock has a 50-day moving average price of $232.58 and a 200 day moving average price of $220.36. Clean Harbors, Inc. has a 52 week low of $178.29 and a 52 week high of $267.11. The company has a quick ratio of 2.07, a current ratio of 2.45 and a debt-to-equity ratio of 1.02.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.03. The company had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.59 billion. Clean Harbors had a return on equity of 14.82% and a net margin of 6.48%. Clean Harbors's revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Analysts forecast that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Insider Activity at Clean Harbors

In other news, CEO Eric W. Gerstenberg sold 8,076 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $225.23, for a total transaction of $1,818,957.48. Following the completion of the sale, the chief executive officer owned 51,619 shares in the company, valued at approximately $11,626,147.37. This represents a 13.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian P. Weber sold 3,035 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $227.17, for a total value of $689,460.95. Following the sale, the executive vice president owned 54,548 shares of the company's stock, valued at approximately $12,391,669.16. This represents a 5.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,948 shares of company stock valued at $3,611,729 over the last 90 days. Insiders own 5.60% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on CLH. Wall Street Zen raised Clean Harbors from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Oppenheimer boosted their price objective on Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. BMO Capital Markets set a $268.00 target price on Clean Harbors and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Raymond James Financial upped their price objective on Clean Harbors from $278.00 to $280.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Finally, Robert W. Baird increased their price objective on Clean Harbors from $250.00 to $255.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $263.40.

Clean Harbors 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.