Price T Rowe Associates Inc. MD Reduces Position in Clean Harbors, Inc. $CLH

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in Clean Harbors, Inc. by 4.5%, currently holding 273,255 shares valued at approximately $53.86 million.
• Clean Harbors reported quarterly earnings of $2.36 EPS, slightly better than analyst expectations, although revenue declined by 0.2% year-over-year.
• Analysts are generally optimistic about Clean Harbors, with a consensus rating of "Moderate Buy" and a target price set at $263.40.

Price T Rowe Associates Inc. MD decreased its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 273,255 shares of the business services provider's stock after selling 13,023 shares during the period. Price T Rowe Associates Inc. MD owned 0.51% of Clean Harbors worth $53,859,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CLH. Wellington Management Group LLP increased its position in Clean Harbors by 30.9% during the first quarter. Wellington Management Group LLP now owns 5,293,796 shares of the business services provider's stock worth $1,043,407,000 after buying an additional 1,249,704 shares in the last quarter. LBP AM SA boosted its holdings in shares of Clean Harbors by 137.4% during the first quarter. LBP AM SA now owns 193,639 shares of the business services provider's stock worth $38,166,000 after purchasing an additional 112,073 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Clean Harbors by 28.1% during the fourth quarter. Northern Trust Corp now owns 498,217 shares of the business services provider's stock worth $114,660,000 after purchasing an additional 109,209 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Clean Harbors by 309.0% during the first quarter. Assenagon Asset Management S.A. now owns 143,977 shares of the business services provider's stock worth $28,378,000 after purchasing an additional 108,779 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in shares of Clean Harbors by 32.0% during the first quarter. DAVENPORT & Co LLC now owns 448,677 shares of the business services provider's stock worth $88,446,000 after purchasing an additional 108,779 shares during the last quarter. Hedge funds and other institutional investors own 90.43% of the company's stock.

Clean Harbors Trading Down 0.6%

Clean Harbors stock traded down $1.45 during midday trading on Friday, reaching $242.23. The stock had a trading volume of 436,113 shares, compared to its average volume of 339,453. Clean Harbors, Inc. has a twelve month low of $178.29 and a twelve month high of $267.11. The stock has a market capitalization of $12.99 billion, a PE 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 stock's 50-day simple moving average is $236.27 and its 200 day simple moving average is $220.92.

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

Insider Buying and Selling

In other Clean Harbors news, EVP Brian P. Weber sold 3,035 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $227.17, for a total value of $689,460.95. Following the transaction, the executive vice president directly owned 54,548 shares of the company's stock, valued at $12,391,669.16. This trade represents a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Louis Battles acquired 2,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was bought at an average cost 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 of the company's stock, valued at $19,359,718.50. This trade represents a 2.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 12,840 shares of company stock valued at $2,903,497 over the last ninety days. Insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CLH shares. Raymond James Financial raised their price objective on Clean Harbors from $278.00 to $280.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Oppenheimer raised their price objective on Clean Harbors from $254.00 to $256.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. BMO Capital Markets set a $268.00 price objective on Clean Harbors and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, UBS Group raised their price objective on Clean Harbors from $220.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Clean Harbors has an average rating of "Moderate Buy" and an average target price of $263.40.

Clean Harbors 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.