Northern Trust Corp Sells 8,479 Shares of Clean Harbors, Inc. $CLH

Key Points

• Northern Trust Corp reduced its stake in Clean Harbors, Inc. by 1.7% in Q1, owning approximately $96.53 million worth of shares after selling 8,479 shares during this period.
• Clean Harbors recently reported $2.36 EPS, exceeding analysts' expectations of $2.33 EPS, despite a slight revenue decline compared to the previous year.
• Several institutional investors have increased their stakes in Clean Harbors, indicating strong institutional confidence, with institutional ownership now at 90.43% of the company's stock.

Northern Trust Corp cut its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 489,738 shares of the business services provider's stock after selling 8,479 shares during the period. Northern Trust Corp owned 0.91% of Clean Harbors worth $96,527,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Kapitalo Investimentos Ltda acquired a new stake in shares of Clean Harbors in the fourth quarter valued at approximately $32,000. Hopwood Financial Services Inc. bought a new position in Clean Harbors during the 1st quarter worth $30,000. Banque Cantonale Vaudoise bought a new position in Clean Harbors during the 1st quarter worth $48,000. Carolinas Wealth Consulting LLC increased its stake in shares of Clean Harbors by 2,800.0% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 261 shares of the business services provider's stock valued at $60,000 after purchasing an additional 252 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Clean Harbors by 25.8% in the 1st quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock valued at $54,000 after purchasing an additional 56 shares during the last quarter. 90.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Michael Louis Battles bought 2,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were purchased at an average price of $233.50 per share, for a total transaction of $467,000.00. Following the completion of the transaction, the chief executive officer directly owned 82,911 shares in the company, valued at approximately $19,359,718.50. The trade was a 2.47% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Brian P. Weber sold 3,035 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $227.17, for a total value of $689,460.95. Following the completion of the sale, the executive vice president owned 54,548 shares in the company, valued at $12,391,669.16. This trade represents a 5.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,840 shares of company stock valued at $2,903,497 over the last quarter. Corporate insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CLH shares. BMO Capital Markets set a $268.00 price objective on Clean Harbors and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Needham & Company LLC reduced their price objective on Clean Harbors from $268.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Oppenheimer boosted their price objective on Clean Harbors from $254.00 to $256.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded Clean Harbors from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Finally, UBS Group boosted their price objective on Clean Harbors from $220.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Clean Harbors presently has a consensus rating of "Moderate Buy" and a consensus price target of $263.40.

Clean Harbors Trading Down 0.6%

Shares of NYSE:CLH traded down $1.45 during midday trading on Friday, reaching $242.23. The company's stock had a trading volume of 436,113 shares, compared to its average volume of 339,453. The firm has a market capitalization of $12.99 billion, a price-to-earnings ratio of 34.02 and a beta of 1.18. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.07 and a current ratio of 2.45. The firm has a 50 day moving average price of $236.27 and a two-hundred day moving average price of $220.99. Clean Harbors, Inc. has a fifty-two week low of $178.29 and a fifty-two week high of $267.11.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.36 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.03. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.59 billion. Clean Harbors had a return on equity of 14.82% and a net margin of 6.48%.The firm's revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 EPS. As a group, analysts forecast that Clean Harbors, Inc. will post 7.89 earnings per share for the current year.

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.