Leeward Investments LLC MA Trims Stock Position in Clean Harbors, Inc. $CLH

Key Points

• Leeward Investments LLC MA trimmed its Clean Harbors stake by 2.8% in the fourth quarter, though the stock remains its fourth-largest holding at 144,974 shares worth about $34.0 million.
• Clean Harbors reported better-than-expected quarterly earnings of $1.19 per share, topping estimates, while revenue rose 1.9% year over year to $1.46 billion.
• Analyst sentiment remains constructive overall, with a consensus “Moderate Buy” rating and an average price target of $322.08, even as some recent insider sales and a mixed rating change drew attention.

Leeward Investments LLC MA lessened its holdings in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 144,974 shares of the business services provider's stock after selling 4,244 shares during the quarter. Clean Harbors makes up approximately 1.7% of Leeward Investments LLC MA's holdings, making the stock its 4th biggest holding. Leeward Investments LLC MA owned about 0.27% of Clean Harbors worth $33,993,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CLH. Integrated Wealth Concepts LLC boosted its stake in shares of Clean Harbors by 102.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,187 shares of the business services provider's stock valued at $431,000 after purchasing an additional 1,109 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Clean Harbors by 47.7% in the 1st quarter. Jones Financial Companies Lllp now owns 607 shares of the business services provider's stock valued at $120,000 after purchasing an additional 196 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Clean Harbors by 12.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 54,577 shares of the business services provider's stock valued at $10,757,000 after purchasing an additional 5,884 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Clean Harbors by 65.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,837 shares of the business services provider's stock valued at $1,118,000 after purchasing an additional 1,908 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its stake in shares of Clean Harbors by 1.4% in the 2nd quarter. Baird Financial Group Inc. now owns 4,418 shares of the business services provider's stock valued at $1,021,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 90.43% of the company's stock.

Clean Harbors Stock Performance

Shares of CLH opened at $308.05 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.99 and a current ratio of 2.34. Clean Harbors, Inc. has a twelve month low of $201.34 and a twelve month high of $316.98. The firm's 50 day moving average price is $295.27 and its two-hundred day moving average price is $262.79. The firm has a market cap of $16.28 billion, a P/E ratio of 41.74 and a beta of 0.92.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. Clean Harbors had a net margin of 6.53% and a return on equity of 14.37%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The business's revenue was up 1.9% on a year-over-year basis. On average, analysts forecast that Clean Harbors, Inc. will post 8.38 EPS for the current fiscal year.

Insider Transactions at Clean Harbors

In other Clean Harbors news, EVP Sharon M. Gabriel sold 3,540 shares of Clean Harbors stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $282.07, for a total value of $998,527.80. Following the transaction, the executive vice president owned 23,193 shares of the company's stock, valued at approximately $6,542,049.51. The trade was a 13.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Brian P. Weber sold 4,683 shares of Clean Harbors stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $293.39, for a total transaction of $1,373,945.37. Following the completion of the transaction, the executive vice president directly owned 48,728 shares in the company, valued at approximately $14,296,307.92. The trade was a 8.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 13,597 shares of company stock valued at $3,895,286. 5.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup raised shares of Clean Harbors from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $302.00 to $346.00 in a research note on Wednesday, April 8th. Wall Street Zen lowered shares of Clean Harbors from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Truist Financial lifted their price objective on shares of Clean Harbors from $310.00 to $325.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. UBS Group lifted their price objective on shares of Clean Harbors from $300.00 to $315.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Robert W. Baird lifted their price objective on shares of Clean Harbors from $300.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $322.08.

About Clean Harbors

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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