VIRGINIA RETIREMENT SYSTEMS ET Al Has $1.40 Million Position in Clean Harbors, Inc. $CLH

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al cut its Clean Harbors stake by 54.4% in the fourth quarter, selling 7,100 shares and ending with 5,960 shares valued at about $1.40 million.
• Insider selling has also been notable, with EVP Brian P. Weber and Director Marcy L. Reed both selling shares recently; insiders sold 13,597 shares worth roughly $3.9 million over the last 90 days.
• Despite some selling, Wall Street sentiment remains positive: analysts maintain a Moderate Buy consensus with an average price target of $322.08, while Clean Harbors recently beat EPS estimates in its latest quarterly report.

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its position in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 54.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,960 shares of the business services provider's stock after selling 7,100 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Clean Harbors were worth $1,398,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its holdings in Clean Harbors by 0.8% in the 3rd quarter. State Street Corp now owns 1,515,621 shares of the business services provider's stock worth $351,958,000 after purchasing an additional 12,452 shares in the last quarter. Snyder Capital Management L P increased its holdings in Clean Harbors by 7.9% in the 3rd quarter. Snyder Capital Management L P now owns 1,148,504 shares of the business services provider's stock worth $266,706,000 after purchasing an additional 83,638 shares in the last quarter. Bessemer Group Inc. increased its holdings in Clean Harbors by 8.6% in the 3rd quarter. Bessemer Group Inc. now owns 1,097,702 shares of the business services provider's stock worth $254,908,000 after purchasing an additional 87,322 shares in the last quarter. Nordea Investment Management AB increased its holdings in Clean Harbors by 120.8% in the 4th quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider's stock worth $246,725,000 after purchasing an additional 569,388 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Clean Harbors by 18.5% in the 3rd quarter. First Trust Advisors LP now owns 651,685 shares of the business services provider's stock worth $151,334,000 after purchasing an additional 101,509 shares in the last quarter. Institutional investors and hedge funds own 90.43% of the company's stock.

Insider Buying and Selling at Clean Harbors

In related news, EVP Brian P. Weber sold 4,683 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $293.39, for a total transaction of $1,373,945.37. Following the completion of the sale, the executive vice president owned 48,728 shares of the company's stock, valued at $14,296,307.92. This trade represents a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Marcy L. Reed sold 836 shares of the firm's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $287.94, for a total value of $240,717.84. Following the sale, the director directly owned 5,081 shares of the company's stock, valued at $1,463,023.14. This represents a 14.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,597 shares of company stock valued at $3,895,286 over the last ninety days. Insiders own 5.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CLH. Truist Financial upped their target price on Clean Harbors from $310.00 to $325.00 and gave the stock a "buy" rating in a report on Monday, April 20th. Citigroup raised Clean Harbors from a "neutral" rating to a "buy" rating and increased their price target for the company from $302.00 to $346.00 in a research note on Wednesday, April 8th. The Goldman Sachs Group increased their price target on Clean Harbors from $268.00 to $306.00 and gave the company a "neutral" rating in a research note on Wednesday, April 8th. Oppenheimer increased their price target on Clean Harbors from $310.00 to $316.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Finally, Wall Street Zen cut Clean Harbors from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $322.08.

Clean Harbors Trading Down 1.7%

Shares of CLH stock opened at $303.02 on Friday. The stock has a market cap of $16.01 billion, a price-to-earnings ratio of 41.06 and a beta of 0.92. The stock has a 50-day moving average of $295.48 and a 200-day moving average of $263.07. The company has a current ratio of 2.34, a quick ratio of 1.99 and a debt-to-equity ratio of 0.99. Clean Harbors, Inc. has a 1-year low of $201.34 and a 1-year high of $316.98.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. Clean Harbors had a return on equity of 14.37% and a net margin of 6.53%.The company had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The business's quarterly revenue was up 1.9% on a year-over-year basis. On average, equities research analysts forecast that Clean Harbors, Inc. will post 8.38 earnings per share for the current year.

Clean Harbors 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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