PNC Financial Services Group Inc. Cuts Stake in Clean Harbors, Inc. (NYSE:CLH)

PNC Financial Services Group Inc. trimmed its position in shares of Clean Harbors, Inc. (NYSE:CLH) by 85.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,664 shares of the business services provider’s stock after selling 28,491 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Clean Harbors were worth $1,073,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. lifted its stake in shares of Clean Harbors by 1.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,803 shares of the business services provider’s stock worth $678,000 after purchasing an additional 39 shares during the period. Icon Wealth Advisors LLC lifted its stake in shares of Clean Harbors by 8.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 581 shares of the business services provider’s stock worth $140,000 after purchasing an additional 45 shares during the period. Traynor Capital Management Inc. lifted its stake in shares of Clean Harbors by 3.6% in the 4th quarter. Traynor Capital Management Inc. now owns 1,450 shares of the business services provider’s stock worth $334,000 after purchasing an additional 50 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Clean Harbors by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 1,563 shares of the business services provider’s stock worth $378,000 after purchasing an additional 53 shares during the period. Finally, Williamson Legacy Group LLC raised its stake in Clean Harbors by 1.4% during the 4th quarter. Williamson Legacy Group LLC now owns 3,727 shares of the business services provider’s stock worth $858,000 after acquiring an additional 53 shares during the period. 90.43% of the stock is owned by hedge funds and other institutional investors.

Clean Harbors Trading Up 1.9 %

CLH stock opened at $193.11 on Monday. The firm has a fifty day moving average price of $223.92 and a 200 day moving average price of $238.27. Clean Harbors, Inc. has a fifty-two week low of $186.54 and a fifty-two week high of $267.11. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.76 and a current ratio of 2.21. The firm has a market cap of $10.40 billion, a PE ratio of 26.03 and a beta of 1.22.

Clean Harbors (NYSE:CLH) last posted its earnings results on Wednesday, February 19th. The business services provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.19. Clean Harbors had a net margin of 6.83% and a return on equity of 16.33%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the firm posted $1.82 earnings per share. Clean Harbors’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on CLH shares. BMO Capital Markets decreased their target price on shares of Clean Harbors from $284.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Robert W. Baird decreased their target price on shares of Clean Harbors from $285.00 to $272.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $268.00 target price on shares of Clean Harbors in a research note on Thursday, February 20th. Oppenheimer decreased their target price on shares of Clean Harbors from $256.00 to $254.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Finally, Truist Financial decreased their target price on shares of Clean Harbors from $280.00 to $270.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. One 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. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $270.56.

Insider Activity at Clean Harbors

In other Clean Harbors news, Director Lauren States sold 308 shares of Clean Harbors stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $239.04, for a total transaction of $73,624.32. Following the completion of the transaction, the director now directly owns 12,226 shares of the company’s stock, valued at $2,922,503.04. The trade was a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Speights sold 2,725 shares of Clean Harbors stock in a transaction on Monday, March 10th. The stock was sold at an average price of $190.44, for a total transaction of $518,949.00. Following the transaction, the insider now directly owns 40,008 shares of the company’s stock, valued at $7,619,123.52. The trade was a 6.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,341 shares of company stock valued at $663,041. 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.