M&T Bank Corp Lowers Holdings in Clean Harbors, Inc. (NYSE:CLH)

M&T Bank Corp decreased its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 56.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,306 shares of the business services provider's stock after selling 19,926 shares during the quarter. M&T Bank Corp's holdings in Clean Harbors were worth $3,017,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Clean Harbors by 2.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,634 shares of the business services provider's stock valued at $913,000 after purchasing an additional 122 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in Clean Harbors by 16.2% in the 1st quarter. Concurrent Investment Advisors LLC now owns 1,059 shares of the business services provider's stock valued at $209,000 after purchasing an additional 148 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Clean Harbors by 18.6% in the first quarter. Janney Montgomery Scott LLC now owns 8,310 shares of the business services provider's stock worth $1,638,000 after acquiring an additional 1,301 shares in the last quarter. Deutsche Bank AG lifted its position in Clean Harbors by 1.0% in the fourth quarter. Deutsche Bank AG now owns 5,793 shares of the business services provider's stock valued at $1,333,000 after acquiring an additional 56 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in Clean Harbors during the first quarter worth about $202,000. Institutional investors own 90.43% of the company's stock.

Clean Harbors Stock Performance

CLH traded down $2.77 during trading hours on Tuesday, hitting $228.76. The stock had a trading volume of 327,116 shares, compared to its average volume of 353,222. The company's fifty day simple moving average is $228.28 and its 200 day simple moving average is $219.97. Clean Harbors, Inc. has a 1 year low of $178.29 and a 1 year high of $267.11. The stock has a market cap of $12.26 billion, a PE ratio of 31.68 and a beta of 1.16. The company has a quick ratio of 1.98, a current ratio of 2.37 and a debt-to-equity ratio of 1.08.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.02 by $0.07. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.44 billion. Clean Harbors had a return on equity of 15.47% and a net margin of 6.58%. Clean Harbors's revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.29 earnings per share. Equities analysts anticipate that Clean Harbors, Inc. will post 7.89 earnings per share for the current year.

Wall Street Analyst Weigh In

CLH has been the subject of a number of recent research reports. Needham & Company LLC lowered their price objective on shares of Clean Harbors from $268.00 to $255.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group dropped their price target on shares of Clean Harbors from $250.00 to $220.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. UBS Group reduced their price target on shares of Clean Harbors from $240.00 to $205.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Wall Street Zen raised shares of Clean Harbors from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Finally, Robert W. Baird boosted their price objective on shares of Clean Harbors from $250.00 to $255.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $257.67.

Insiders Place Their Bets

In other Clean Harbors news, Director Alison A. Quirk sold 893 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $223.69, for a total value of $199,755.17. Following the transaction, the director owned 2,978 shares of the company's stock, valued at approximately $666,148.82. This represents a 23.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Speights sold 1,022 shares of Clean Harbors stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $228.49, for a total value of $233,516.78. Following the sale, the insider directly owned 16,310 shares in the company, valued at $3,726,671.90. This trade represents a 5.90% 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. Corporate insiders own 5.60% of the company's stock.

About Clean Harbors

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.