Royal Bank of Canada Lowers Position in Clean Harbors, Inc. $CLH

Key Points

• Royal Bank of Canada reduced its Clean Harbors stake by 8.8% in the first quarter, selling 10,037 shares and retaining 104,313 shares valued at approximately $29.9 million. Institutional investors collectively own 90.43% of the company.
• Clean Harbors reported a strong quarter, with EPS of $3.22 versus the $2.81 consensus and revenue of $1.74 billion, up 11.9% year over year and above estimates. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $354.57.
• CLH shares opened at $310.19, down 0.3%, after trading between $201.34 and $335.94 over the past year. Two company directors recently sold shares, while insiders retain a 5% ownership stake.

Royal Bank of Canada cut its stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,313 shares of the business services provider's stock after selling 10,037 shares during the period. Royal Bank of Canada owned about 0.20% of Clean Harbors worth $29,909,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Quattro Advisors LLC bought a new stake in shares of Clean Harbors in the 4th quarter worth $26,000. Elyxium Wealth LLC purchased a new stake in shares of Clean Harbors in the fourth quarter valued at about $26,000. Parkside Financial Bank & Trust lifted its position in shares of Clean Harbors by 205.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 119 shares of the business services provider's stock valued at $28,000 after purchasing an additional 80 shares in the last quarter. MidFirst Bank purchased a new position in Clean Harbors during the fourth quarter worth about $28,000. Finally, Larson Financial Group LLC boosted its holdings in Clean Harbors by 676.5% during the fourth quarter. Larson Financial Group LLC now owns 132 shares of the business services provider's stock worth $31,000 after purchasing an additional 115 shares during the last quarter. 90.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. TD Cowen upped their price objective on shares of Clean Harbors from $335.00 to $380.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. UBS Group boosted their target price on Clean Harbors from $300.00 to $315.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Truist Financial boosted their target price on Clean Harbors from $350.00 to $365.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Weiss Ratings raised Clean Harbors from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 30th. Finally, Barclays lifted their price target on Clean Harbors from $305.00 to $325.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $354.57.

Clean Harbors Trading Down 0.3%

Shares of CLH stock opened at $310.19 on Wednesday. The company has a quick ratio of 1.80, a current ratio of 2.13 and a debt-to-equity ratio of 0.94. The firm has a market cap of $16.38 billion, a P/E ratio of 37.64, a PEG ratio of 2.05 and a beta of 0.86. The company has a 50 day moving average of $296.60 and a 200-day moving average of $289.70. Clean Harbors, Inc. has a 12-month low of $201.34 and a 12-month high of $335.94.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.22 EPS for the quarter, beating the consensus estimate of $2.81 by $0.41. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%.The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the business earned $2.36 earnings per share. Clean Harbors's revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts anticipate that Clean Harbors, Inc. will post 9.51 earnings per share for the current year.

Insider Buying and Selling at Clean Harbors

In other news, Director Lauren States sold 789 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $286.19, for a total transaction of $225,803.91. Following the transaction, the director owned 11,359 shares of the company's stock, valued at $3,250,832.21. This represents a 6.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrea Robertson sold 789 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $314.01, for a total value of $247,753.89. Following the transaction, the director owned 8,979 shares of the company's stock, valued at $2,819,495.79. The trade was a 8.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 5.00% of the company's stock.

Clean Harbors Company 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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