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

Clean Harbors, Inc. (NYSE:CLH)’s share price traded down 6.2% on Wednesday following insider selling activity. The stock traded as low as $214.71 and last traded at $212.62. 120,876 shares traded hands during trading, a decline of 64% from the average session volume of 337,289 shares. The stock had previously closed at $226.70.

Specifically, Director Lauren States sold 308 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $228.79, for a total value of $70,467.32. Following the transaction, the director now owns 11,918 shares of the company’s stock, valued at approximately $2,726,719.22. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. StockNews.com cut Clean Harbors from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $268.00 price target on shares of Clean Harbors in a report on Thursday, January 16th. Stifel Nicolaus raised their price objective on Clean Harbors from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Truist Financial upped their target price on Clean Harbors from $260.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Oppenheimer boosted their price objective on shares of Clean Harbors from $255.00 to $256.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. One investment 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 Stock Performance

The company has a market cap of $11.92 billion, a P/E ratio of 28.80 and a beta of 1.24. The firm has a 50 day moving average price of $234.40 and a 200-day moving average price of $242.30. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.76 and a current ratio of 2.10.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings data on Wednesday, February 19th. The business services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.19. Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the company earned $1.82 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, research analysts predict that Clean Harbors, Inc. will post 7.21 EPS for the current year.

Institutional Investors Weigh In On Clean Harbors

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kapitalo Investimentos Ltda acquired a new stake in shares of Clean Harbors in the 4th quarter valued at $32,000. Skandinaviska Enskilda Banken AB publ increased its stake 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 valued at $38,000 after buying an additional 159 shares during the period. Allworth Financial LP increased its stake 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 valued at $44,000 after buying an additional 103 shares during the period. Assetmark Inc. increased its stake 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 valued at $48,000 after buying an additional 205 shares during the period. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Clean Harbors in the 3rd quarter valued at $56,000. 90.43% of the stock is owned by institutional investors and hedge funds.

About Clean Harbors

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.