MGB Wealth Management LLC Trims Stock Position in Clean Harbors, Inc. (NYSE:CLH)

MGB Wealth Management LLC cut its position in shares of Clean Harbors, Inc. (NYSE:CLH) by 9.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,965 shares of the business services provider’s stock after selling 421 shares during the quarter. MGB Wealth Management LLC’s holdings in Clean Harbors were worth $957,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CLH. Innealta Capital LLC purchased a new position in shares of Clean Harbors in the 2nd quarter worth about $25,000. UMB Bank n.a. raised its holdings in shares of Clean Harbors by 63.4% in the 3rd quarter. UMB Bank n.a. now owns 214 shares of the business services provider’s stock worth $52,000 after purchasing an additional 83 shares during the period. Brown Brothers Harriman & Co. purchased a new position in shares of Clean Harbors in the 2nd quarter worth about $56,000. Prospera Private Wealth LLC purchased a new position in shares of Clean Harbors in the 3rd quarter worth about $56,000. Finally, CENTRAL TRUST Co raised its holdings in shares of Clean Harbors by 161.6% in the 3rd quarter. CENTRAL TRUST Co now owns 259 shares of the business services provider’s stock worth $63,000 after purchasing an additional 160 shares during the period. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Needham & Company LLC cut their price objective on Clean Harbors from $274.00 to $268.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Stifel Nicolaus reiterated a “buy” rating and set a $275.00 target price (up from $240.00) on shares of Clean Harbors in a report on Thursday, August 1st. Oppenheimer raised their target price on Clean Harbors from $252.00 to $270.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Truist Financial raised 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, Robert W. Baird dropped their target price on Clean Harbors from $300.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $254.33.

Clean Harbors Price Performance

CLH stock opened at $252.50 on Friday. The company has a quick ratio of 1.76, a current ratio of 2.10 and a debt-to-equity ratio of 1.10. Clean Harbors, Inc. has a 52-week low of $158.42 and a 52-week high of $267.11. The stock’s 50 day moving average is $249.86 and its two-hundred day moving average is $235.09. The company has a market capitalization of $13.61 billion, a PE ratio of 32.88 and a beta of 1.20.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.03). Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the firm earned $1.68 earnings per share. Clean Harbors’s revenue for the quarter was up 12.0% compared to the same quarter last year. Analysts predict that Clean Harbors, Inc. will post 7.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Lauren States sold 309 shares of Clean Harbors stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $244.09, for a total value of $75,423.81. Following the completion of the transaction, the director now owns 13,458 shares in the company, valued at approximately $3,284,963.22. This trade represents a 2.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Louis Battles sold 10,000 shares of Clean Harbors stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 77,136 shares of the company’s stock, valued at approximately $18,955,400.64. The trade was a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,586 shares of company stock worth $4,351,841 in the last three months. 5.90% of the stock is owned by insiders.

Clean Harbors 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.