Vestcor Inc Sells 1,378 Shares of Clean Harbors, Inc. (NYSE:CLH)

Key Points

• Vestcor Inc has reduced its stake in Clean Harbors, Inc. by 21.7%, holding 4,971 shares valued at approximately $980,000.
• Clean Harbors' stock declined by 0.7% to $234.15, with recent trading volumes surpassing its average levels.
• Analysts have varying views on Clean Harbors, with target price adjustments ranging from $250.00 to $280.00, and the stock collectively rated as a "Moderate Buy."

Vestcor Inc cut its holdings in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 21.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,971 shares of the business services provider's stock after selling 1,378 shares during the quarter. Vestcor Inc's holdings in Clean Harbors were worth $980,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CLH. Kapitalo Investimentos Ltda bought a new position in Clean Harbors during the fourth quarter worth about $32,000. Banque Cantonale Vaudoise bought a new position in shares of Clean Harbors during the 1st quarter valued at about $48,000. Blue Trust Inc. grew its stake in shares of Clean Harbors by 25.8% during the 1st quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock worth $54,000 after acquiring an additional 56 shares in the last quarter. Carolinas Wealth Consulting LLC grew its stake in shares of Clean Harbors by 2,800.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 261 shares of the business services provider's stock worth $60,000 after acquiring an additional 252 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Clean Harbors by 24.6% during the 1st quarter. UMB Bank n.a. now owns 349 shares of the business services provider's stock worth $69,000 after acquiring an additional 69 shares in the last quarter. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. BMO Capital Markets set a $268.00 price target on Clean Harbors and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Wall Street Zen raised Clean Harbors from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Oppenheimer upped their price objective on Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Robert W. Baird upped their target price on Clean Harbors from $250.00 to $255.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Truist Financial dropped their price objective on Clean Harbors from $270.00 to $250.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Clean Harbors presently has a consensus rating of "Moderate Buy" and an average price target of $263.40.

Insider Activity

In related news, EVP Brian P. Weber sold 3,035 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $227.17, for a total value of $689,460.95. Following the transaction, the executive vice president owned 54,548 shares in the company, valued at $12,391,669.16. The trade was a 5.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Speights sold 1,022 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $228.49, for a total transaction of $233,516.78. Following the completion of the transaction, the insider owned 16,310 shares in the company, valued at approximately $3,726,671.90. The trade was a 5.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,948 shares of company stock valued at $3,611,729. 5.60% of the stock is owned by insiders.

Clean Harbors Price Performance

Shares of CLH traded up $2.20 during trading hours on Tuesday, reaching $238.63. 163,652 shares of the company's stock traded hands, compared to its average volume of 423,281. The stock has a market cap of $12.80 billion, a PE ratio of 33.52 and a beta of 1.18. The company has a current ratio of 2.45, a quick ratio of 2.07 and a debt-to-equity ratio of 1.02. Clean Harbors, Inc. has a 12 month low of $178.29 and a 12 month high of $267.11. The firm's 50 day simple moving average is $229.55 and its 200-day simple moving average is $219.94.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.36 EPS for the quarter, topping analysts' consensus estimates of $2.33 by $0.03. The business 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%. The business's quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 EPS. Equities analysts expect that Clean Harbors, Inc. will post 7.89 EPS for the current year.

About Clean Harbors

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.