Vestcor Inc Trims Stock Position in 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 trimmed its holdings in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 21.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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.

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

Clean Harbors Stock Down 0.7%

CLH traded down $1.66 on Friday, reaching $234.15. The company's stock had a trading volume of 503,299 shares, compared to its average volume of 379,799. The stock has a 50 day moving average of $229.36 and a two-hundred day moving average of $220.23. The company has a quick ratio of 1.98, a current ratio of 2.45 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $12.56 billion, a price-to-earnings ratio of 32.89 and a beta of 1.18. Clean Harbors, Inc. has a fifty-two week low of $178.29 and a fifty-two week high of $267.11.

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

Analyst Ratings Changes

Several equities analysts have weighed in on CLH shares. Raymond James Financial lifted their target price on Clean Harbors from $278.00 to $280.00 and gave the company a "strong-buy" rating in a research report on Thursday. Robert W. Baird lifted 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. BMO Capital Markets set a $268.00 target price on Clean Harbors and gave the company an "outperform" rating in a research report on Thursday. Truist Financial lowered 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. Finally, UBS Group boosted their price objective on Clean Harbors from $220.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $263.40.

Insider Buying and Selling

In other news, insider Robert Speights sold 1,022 shares of the company's stock in a transaction that occurred on 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 sale, the insider owned 16,310 shares in the company, valued at $3,726,671.90. This represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $1,818,957.48. Following the completion of the transaction, the chief executive officer owned 51,619 shares of the company's stock, valued at $11,626,147.37. The trade was a 13.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,112 shares of company stock valued at $3,416,406 in the last 90 days. Company insiders own 5.60% of the company's stock.

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.