Advisors Asset Management Inc. Trims Stake in Clean Harbors, Inc. (NYSE:CLH)

Advisors Asset Management Inc. trimmed its position in shares of Clean Harbors, Inc. (NYSE:CLH) by 13.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,731 shares of the business services provider’s stock after selling 2,834 shares during the quarter. Advisors Asset Management Inc.’s holdings in Clean Harbors were worth $4,527,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Janus Henderson Group PLC grew its position in shares of Clean Harbors by 5.2% during the first quarter. Janus Henderson Group PLC now owns 1,586,461 shares of the business services provider’s stock worth $319,371,000 after buying an additional 78,848 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Clean Harbors by 30.6% during the second quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock worth $239,361,000 after acquiring an additional 248,240 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Clean Harbors by 12.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 570,826 shares of the business services provider’s stock valued at $137,974,000 after acquiring an additional 63,800 shares during the period. Marshall Wace LLP grew its stake in Clean Harbors by 20.3% in the 2nd quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock valued at $121,505,000 after acquiring an additional 90,756 shares during the last quarter. Finally, Artemis Investment Management LLP lifted its position in shares of Clean Harbors by 13.7% in the second quarter. Artemis Investment Management LLP now owns 490,668 shares of the business services provider’s stock valued at $110,965,000 after acquiring an additional 59,033 shares in the last quarter. 90.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CLH. The Goldman Sachs Group increased their price objective on shares of Clean Harbors from $223.00 to $256.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Truist Financial increased their target price on Clean Harbors from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC lowered their price target on Clean Harbors from $274.00 to $268.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. StockNews.com lowered shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Oppenheimer boosted their price target on Clean Harbors from $252.00 to $270.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $254.33.

Clean Harbors Stock Up 1.0 %

CLH opened at $250.03 on Friday. Clean Harbors, Inc. has a 12 month low of $158.42 and a 12 month high of $267.11. The company has a 50 day moving average of $249.68 and a 200 day moving average of $234.66. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.10. The company has a market cap of $13.48 billion, a PE ratio of 32.56 and a beta of 1.20.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.03). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. Clean Harbors had a net margin of 7.19% and a return on equity of 17.51%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 earnings per share. On average, sell-side analysts expect that Clean Harbors, Inc. will post 7.29 EPS for the current year.

Insider Buying and Selling at Clean Harbors

In other news, CEO Michael Louis Battles sold 10,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $245.74, for a total value of $2,457,400.00. Following the transaction, the chief executive officer now directly owns 77,136 shares in the company, valued at $18,955,400.64. The trade was a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Speights sold 610 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $240.14, for a total transaction of $146,485.40. Following the transaction, the insider now directly owns 39,160 shares of the company’s stock, valued at $9,403,882.40. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,586 shares of company stock worth $4,351,841. 5.90% of the stock is owned by corporate insiders.

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.