Clean Harbors (NYSE:CLH) Stock Price Down 6.2% After Insider Selling

Clean Harbors, Inc. (NYSE:CLH) dropped 6.2% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $214.71 and last traded at $212.62. Approximately 120,876 shares traded hands during trading, a decline of 64% from the average daily volume of 337,289 shares. The stock had previously closed at $226.70.

Specifically, Director Lauren States sold 308 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $228.79, for a total value of $70,467.32. Following the sale, the director now directly owns 11,918 shares in the company, valued at approximately $2,726,719.22. The trade was a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CLH shares. Truist Financial upped their price target on Clean Harbors from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $268.00 target price on shares of Clean Harbors in a research note on Thursday, January 16th. StockNews.com downgraded Clean Harbors from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st. TD Cowen assumed coverage on Clean Harbors in a report on Friday, December 6th. They issued a “buy” rating and a $325.00 price objective for the company. Finally, Oppenheimer increased their target price on Clean Harbors from $255.00 to $256.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $269.44.

Clean Harbors Price Performance

The firm has a 50 day moving average of $235.02 and a 200-day moving average of $242.45. The company has a market cap of $11.69 billion, a P/E ratio of 28.29 and a beta of 1.24. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.10.

Clean Harbors (NYSE:CLH) last issued its earnings results on Wednesday, February 19th. The business services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.19. Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. During the same quarter in the prior year, the firm posted $1.82 EPS. On average, equities research analysts predict that Clean Harbors, Inc. will post 7.21 EPS for the current year.

Hedge Funds Weigh In On Clean Harbors

Several institutional investors have recently added to or reduced their stakes in CLH. Kapitalo Investimentos Ltda purchased a new position in Clean Harbors during the 4th quarter valued at approximately $32,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Clean Harbors by 2,650.0% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 165 shares of the business services provider’s stock worth $38,000 after purchasing an additional 159 shares during the period. Allworth Financial LP boosted its holdings in shares of Clean Harbors by 130.4% in the 4th quarter. Allworth Financial LP now owns 182 shares of the business services provider’s stock worth $44,000 after purchasing an additional 103 shares during the period. Assetmark Inc. boosted its holdings in shares of Clean Harbors by 10,250.0% in the 4th quarter. Assetmark Inc. now owns 207 shares of the business services provider’s stock worth $48,000 after purchasing an additional 205 shares during the period. Finally, Prospera Private Wealth LLC purchased a new position in Clean Harbors during the 3rd quarter valued at $56,000. Hedge funds and other institutional investors own 90.43% of the company’s stock.

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.