Insider Selling: Clean Harbors, Inc. (NYSE:CLH) CEO Sells 10,000 Shares of Stock

Clean Harbors, Inc. (NYSE:CLH) CEO Michael Louis Battles sold 10,000 shares of the company’s stock in a transaction on 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 owns 77,136 shares of the company’s stock, valued at $18,955,400.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Clean Harbors Price Performance

Shares of CLH stock traded up $0.55 during mid-day trading on Tuesday, hitting $244.85. 24,723 shares of the stock traded hands, compared to its average volume of 299,092. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.76 and a current ratio of 2.10. The firm has a market cap of $13.21 billion, a price-to-earnings ratio of 35.24 and a beta of 1.20. The company’s 50-day simple moving average is $234.80 and its 200-day simple moving average is $216.62. Clean Harbors, Inc. has a twelve month low of $132.92 and a twelve month high of $247.52.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.46 EPS for the quarter, topping the consensus estimate of $2.21 by $0.25. Clean Harbors had a net margin of 6.97% and a return on equity of 17.12%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the business earned $2.13 earnings per share. Clean Harbors’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, equities research analysts expect that Clean Harbors, Inc. will post 7.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

CLH has been the subject of several recent research reports. StockNews.com upgraded shares of Clean Harbors from a “buy” rating to a “strong-buy” rating in a research report on Monday. Needham & Company LLC raised their price target on shares of Clean Harbors from $235.00 to $274.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus reiterated a “buy” rating and set a $275.00 price objective (up from $240.00) on shares of Clean Harbors in a research report on Thursday, August 1st. Truist Financial raised their target price on Clean Harbors from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Robert W. Baird boosted their price target on Clean Harbors from $242.00 to $268.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $242.40.

Institutional Trading of Clean Harbors

Hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI acquired a new position in Clean Harbors in the fourth quarter worth approximately $34,000. Jump Financial LLC acquired a new stake in shares of Clean Harbors during the fourth quarter worth $686,000. Brown Advisory Inc. purchased a new stake in shares of Clean Harbors during the fourth quarter valued at $499,000. Norges Bank acquired a new position in shares of Clean Harbors in the 4th quarter valued at $87,074,000. Finally, Clearbridge Investments LLC increased its stake in Clean Harbors by 5.4% in the 4th quarter. Clearbridge Investments LLC now owns 740,597 shares of the business services provider’s stock worth $129,242,000 after purchasing an additional 38,171 shares in the last quarter. 90.43% of the stock is currently owned by institutional investors.

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.