M&T Bank Corp Has $632,000 Stock Position in Clean Harbors, Inc. $CLH

Key Points

• M&T Bank Corp cut its Clean Harbors stake by 75.8%, selling 8,455 shares and leaving a 2,696‑share position valued at about $632,000.
• Company insiders have been net sellers recently—EVP Sharon Gabriel and CFO Eric Dugas sold several thousand shares and insiders sold 13,597 shares (~$3.9M) over 90 days—while institutional investors still own 90.43% of the stock and insiders hold 5.00%.
• Clean Harbors slightly beat the quarter with $1.62 EPS vs. $1.59 expected and revenue of $1.50B (up 4.8% YoY); analysts place a consensus rating of "Moderate Buy" with an average target of $314.

M&T Bank Corp lowered its stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 75.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,696 shares of the business services provider's stock after selling 8,455 shares during the quarter. M&T Bank Corp's holdings in Clean Harbors were worth $632,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Clean Harbors by 9.4% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 28,944 shares of the business services provider's stock worth $6,787,000 after acquiring an additional 2,485 shares in the last quarter. Optas LLC bought a new stake in shares of Clean Harbors during the fourth quarter worth $1,052,000. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in shares of Clean Harbors during the fourth quarter worth $2,550,000. Pekao Towarzystwo Funduszy Inwestycyjnych S.A. bought a new stake in shares of Clean Harbors during the fourth quarter worth $189,000. Finally, Cornerstone Wealth Group LLC bought a new stake in shares of Clean Harbors during the fourth quarter worth $302,000. Institutional investors and hedge funds own 90.43% of the company's stock.

Clean Harbors Stock Down 0.4%

NYSE:CLH opened at $311.29 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.33. The company has a market cap of $16.59 billion, a PE ratio of 42.76 and a beta of 0.92. Clean Harbors, Inc. has a 52-week low of $201.34 and a 52-week high of $316.98. The stock has a 50-day simple moving average of $294.02 and a 200 day simple moving average of $259.17.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. Clean Harbors had a return on equity of 14.47% and a net margin of 6.48%.Clean Harbors's quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the company earned $1.55 earnings per share. On average, sell-side analysts expect that Clean Harbors, Inc. will post 8.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CLH shares. Wells Fargo & Company increased their price objective on shares of Clean Harbors from $291.00 to $309.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 18th. The Goldman Sachs Group increased their price objective on shares of Clean Harbors from $268.00 to $306.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 8th. Needham & Company LLC increased their price objective on Clean Harbors from $290.00 to $308.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Raymond James Financial reiterated a "strong-buy" rating and set a $320.00 price objective on shares of Clean Harbors in a report on Monday, February 23rd. Finally, TD Cowen reiterated a "buy" rating on shares of Clean Harbors in a report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Clean Harbors presently has a consensus rating of "Moderate Buy" and an average target price of $314.00.

Insider Transactions at Clean Harbors

In other Clean Harbors news, EVP Sharon M. Gabriel sold 3,540 shares of the firm's stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $282.07, for a total value of $998,527.80. Following the completion of the transaction, the executive vice president directly owned 23,193 shares in the company, valued at $6,542,049.51. This trade represents a 13.24% 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, CFO Eric J. Dugas sold 2,788 shares of the firm's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $281.31, for a total value of $784,292.28. Following the completion of the transaction, the chief financial officer owned 15,933 shares of the company's stock, valued at approximately $4,482,112.23. This represents a 14.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 13,597 shares of company stock valued at $3,895,286. 5.00% of the stock is owned by insiders.

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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