Clean Harbors, Inc. $CLH Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has reduced its stake in Clean Harbors, Inc. by 8.6%, selling 21,543 shares and now holding 230,286 shares valued at approximately $45.39 million.
• Several other institutional investors have also adjusted their positions, with notable increases from Dimensional Fund Advisors and Pinebridge Investments, indicating ongoing interest in the company's stock.
• Wall Street analysts are optimistic about Clean Harbors, upgrading the stock to a "buy" rating and setting target prices ranging from $240 to $268, highlighting a consensus rating of "Moderate Buy."

Raymond James Financial Inc. trimmed its stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 8.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 230,286 shares of the business services provider's stock after selling 21,543 shares during the quarter. Raymond James Financial Inc. owned approximately 0.43% of Clean Harbors worth $45,389,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Hopwood Financial Services Inc. purchased a new stake in Clean Harbors during the 1st quarter worth about $30,000. Kapitalo Investimentos Ltda purchased a new position in Clean Harbors in the 4th quarter valued at about $32,000. Banque Cantonale Vaudoise acquired a new stake in shares of Clean Harbors during the 1st quarter worth about $48,000. Blue Trust Inc. boosted its stake in shares of Clean Harbors by 25.8% during the 1st quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock worth $54,000 after purchasing an additional 56 shares during the last quarter. Finally, Horizon Investments LLC grew its holdings in shares of Clean Harbors by 42.0% during the first quarter. Horizon Investments LLC now owns 284 shares of the business services provider's stock worth $56,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 90.43% of the company's stock.

Clean Harbors Trading Up 1.6%

Shares of CLH stock traded up $3.8150 on Friday, reaching $248.3750. 219,509 shares of the stock were exchanged, compared to its average volume of 414,531. The company has a quick ratio of 2.07, a current ratio of 2.45 and a debt-to-equity ratio of 1.02. The stock has a market cap of $13.32 billion, a P/E ratio of 34.88 and a beta of 1.18. The firm has a 50 day moving average of $234.47 and a two-hundred day moving average of $220.58. Clean Harbors, Inc. has a 1-year low of $178.29 and a 1-year high of $267.11.

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. On average, research analysts anticipate that Clean Harbors, Inc. will post 7.89 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Robert W. Baird upped their price objective on shares of Clean Harbors from $250.00 to $255.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Raymond James Financial boosted their price target on Clean Harbors from $278.00 to $280.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. Wall Street Zen raised Clean Harbors from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. BMO Capital Markets set a $268.00 price objective on Clean Harbors and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, UBS Group upped their target price on Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. One equities research 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, Clean Harbors has a consensus rating of "Moderate Buy" and a consensus target price of $263.40.

Insiders Place Their Bets

In other news, insider Robert Speights sold 1,022 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $228.49, for a total transaction of $233,516.78. Following the completion of the sale, the insider owned 16,310 shares in the company, valued at approximately $3,726,671.90. The trade was a 5.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric W. Gerstenberg sold 8,076 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $225.23, for a total transaction of $1,818,957.48. Following the sale, the chief executive officer directly owned 51,619 shares of the company's stock, valued at approximately $11,626,147.37. This trade represents a 13.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,112 shares of company stock worth $3,422,651. 5.60% of the stock is owned by insiders.

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.