DAVENPORT & Co LLC Cuts Position in Clean Harbors, Inc. $CLH

Key Points

• DAVENPORT & Co LLC trimmed its stake in Clean Harbors (CLH) by 4.9% in Q4, selling 21,615 shares and now holds 423,069 shares (~0.79%) valued at about $99.9 million.
• Analysts have raised several price targets and ratings recently, leaving MarketBeat's consensus at a "Moderate Buy" with an average target of roughly $299.27.
• Insiders sold 13,597 shares worth about $3.9 million during the quarter (including sales by a director and the CFO), leaving insiders with roughly 5.60% ownership.

DAVENPORT & Co LLC trimmed its holdings in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 423,069 shares of the business services provider's stock after selling 21,615 shares during the period. DAVENPORT & Co LLC owned about 0.79% of Clean Harbors worth $99,906,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Root Financial Partners LLC purchased a new position in shares of Clean Harbors in the 3rd quarter valued at $30,000. True Wealth Design LLC boosted its position in Clean Harbors by 102.7% during the 4th quarter. True Wealth Design LLC now owns 152 shares of the business services provider's stock worth $36,000 after purchasing an additional 77 shares during the period. Bayforest Capital Ltd acquired a new stake in Clean Harbors in the 3rd quarter valued at $44,000. First Horizon Corp acquired a new stake in Clean Harbors in the 3rd quarter valued at $44,000. Finally, SJS Investment Consulting Inc. raised its position in Clean Harbors by 2,985.7% in the third quarter. SJS Investment Consulting Inc. now owns 216 shares of the business services provider's stock valued at $50,000 after purchasing an additional 209 shares during the period. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CLH shares. Needham & Company LLC boosted their price objective on Clean Harbors from $290.00 to $308.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th. TD Cowen reiterated a "buy" rating on shares of Clean Harbors in a report on Thursday, February 19th. The Goldman Sachs Group boosted their price target on Clean Harbors from $228.00 to $253.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 20th. Wells Fargo & Company upped their price target on Clean Harbors from $291.00 to $309.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 18th. Finally, Citigroup increased their price objective on shares of Clean Harbors from $274.00 to $302.00 and gave the company a "neutral" rating in a research report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Clean Harbors currently has a consensus rating of "Moderate Buy" and an average target price of $299.27.

Clean Harbors Stock Performance

NYSE:CLH opened at $285.13 on Wednesday. The firm has a 50-day moving average of $275.67 and a two-hundred day moving average of $247.13. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.33 and a quick ratio of 2.00. The stock has a market cap of $15.09 billion, a P/E ratio of 39.17 and a beta of 0.93. Clean Harbors, Inc. has a 1-year low of $178.29 and a 1-year high of $298.12.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its earnings results on Wednesday, February 18th. The business services provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.03. Clean Harbors had a return on equity of 14.47% and a net margin of 6.48%.The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company earned $1.55 earnings per share. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. On average, research analysts expect that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Marcy L. Reed sold 836 shares of the firm's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $287.94, for a total transaction of $240,717.84. Following the completion of the sale, the director owned 5,081 shares of the company's stock, valued at approximately $1,463,023.14. This trade represents a 14.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Eric J. Dugas sold 2,788 shares of Clean Harbors stock in a transaction on Friday, February 20th. The stock was sold at an average price of $281.31, for a total transaction of $784,292.28. Following the completion of the sale, the chief financial officer owned 15,933 shares of the company's stock, valued at approximately $4,482,112.23. This trade represents a 14.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,597 shares of company stock worth $3,895,286 over the last quarter. Corporate insiders own 5.60% of the company's stock.

Clean Harbors Profile

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.

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