Corebridge Financial Inc. Cuts Stock Position in Clean Harbors, Inc. $CLH

Key Points

• Corebridge Financial Inc. reduced its stake in Clean Harbors, Inc. by 2.4%, now holding 55,963 shares valued at approximately $11 million as of its latest SEC filing.
• Institutional investors own about 90.43% of Clean Harbors' stock, with various hedge funds making significant changes to their positions in the company recently.
• Analysts have increased price targets for Clean Harbors, with the average target now at $263.40 and a consensus rating of "Moderate Buy."

Corebridge Financial Inc. lessened its holdings in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 2.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,963 shares of the business services provider's stock after selling 1,368 shares during the quarter. Corebridge Financial Inc. owned 0.10% of Clean Harbors worth $11,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new position in Clean Harbors during the fourth quarter valued at about $598,000. Northern Trust Corp boosted its stake in Clean Harbors by 28.1% in the fourth quarter. Northern Trust Corp now owns 498,217 shares of the business services provider's stock valued at $114,660,000 after acquiring an additional 109,209 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Clean Harbors during the 4th quarter valued at approximately $32,000. Gallo Partners LP purchased a new stake in shares of Clean Harbors during the 4th quarter worth approximately $2,506,000. Finally, Freestone Grove Partners LP purchased a new stake in shares of Clean Harbors during the 4th quarter worth approximately $8,978,000. 90.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on CLH shares. Oppenheimer upped 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. Wall Street Zen upgraded Clean Harbors from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. UBS Group increased their target price on shares of Clean Harbors from $220.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Robert W. Baird lifted their target price on shares of Clean Harbors from $250.00 to $255.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, Raymond James Financial upped their price target on shares of Clean Harbors from $278.00 to $280.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Clean Harbors has a consensus rating of "Moderate Buy" and an average price target of $263.40.

Clean Harbors Trading Up 0.1%

Shares of CLH opened at $244.53 on Wednesday. Clean Harbors, Inc. has a twelve month low of $178.29 and a twelve month high of $267.11. The stock has a market cap of $13.11 billion, a PE ratio of 34.34 and a beta of 1.18. The company has a quick ratio of 2.07, a current ratio of 2.45 and a debt-to-equity ratio of 1.02. The business's 50-day moving average price is $235.20 and its 200-day moving average price is $220.71.

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

Insider Activity

In related news, Director Alison A. Quirk sold 893 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $223.69, for a total transaction of $199,755.17. Following the completion of the transaction, the director directly owned 2,978 shares in the company, valued at $666,148.82. The trade was a 23.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrea Robertson sold 836 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $233.64, for a total value of $195,323.04. Following the completion of the transaction, the director owned 9,888 shares in the company, valued at $2,310,232.32. This represents a 7.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,840 shares of company stock worth $2,903,497. Company insiders own 5.60% of the company's stock.

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.

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