Bank of New York Mellon Corp Decreases Stock Holdings in Clean Harbors, Inc. $CLH

Bank of New York Mellon Corp reduced its holdings in shares of Clean Harbors, Inc. (NYSE:CLH) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 398,460 shares of the business services provider’s stock after selling 9,284 shares during the quarter. Bank of New York Mellon Corp’s holdings in Clean Harbors were worth $93,431,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CLH. Norges Bank purchased a new position in shares of Clean Harbors in the fourth quarter valued at $152,195,000. Durable Capital Partners LP acquired a new stake in Clean Harbors during the 3rd quarter valued at $133,217,000. Nordea Investment Management AB grew its holdings in Clean Harbors by 120.8% during the 4th quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider’s stock valued at $246,725,000 after purchasing an additional 569,388 shares in the last quarter. Two Sigma Investments LP grew its holdings in Clean Harbors by 148.3% during the 3rd quarter. Two Sigma Investments LP now owns 384,494 shares of the business services provider’s stock valued at $89,287,000 after purchasing an additional 229,666 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in Clean Harbors during the 3rd quarter valued at $28,925,000. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Clean Harbors from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 9th. The Goldman Sachs Group raised their price target on shares of Clean Harbors from $268.00 to $306.00 and gave the company a “neutral” rating in a report on Wednesday, April 8th. BMO Capital Markets raised their price target on shares of Clean Harbors from $290.00 to $310.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $320.00 price target on shares of Clean Harbors in a report on Monday, February 23rd. Finally, Needham & Company LLC upped their price target on shares of Clean Harbors from $308.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $323.23.

Clean Harbors Trading Down 1.7%

CLH opened at $278.33 on Tuesday. The stock has a market capitalization of $14.71 billion, a PE ratio of 37.71 and a beta of 0.87. The firm’s fifty day moving average price is $294.96 and its 200 day moving average price is $271.63. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.34 and a quick ratio of 1.99. Clean Harbors, Inc. has a 12-month low of $201.34 and a 12-month high of $316.98.

Clean Harbors (NYSE:CLH) last issued its earnings results on Wednesday, May 6th. The business services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Clean Harbors had a net margin of 6.53% and a return on equity of 14.37%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.09 earnings per share. As a group, research analysts expect that Clean Harbors, Inc. will post 8.5 EPS for the current fiscal year.

Insider Buying and Selling at Clean Harbors

In other Clean Harbors news, CEO Eric W. Gerstenberg sold 1,000 shares of the stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $293.00, for a total transaction of $293,000.00. Following the sale, the chief executive officer directly owned 38,877 shares of the company’s stock, valued at approximately $11,390,961. This represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren States sold 789 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $286.19, for a total transaction of $225,803.91. Following the transaction, the director owned 11,359 shares of the company’s stock, valued at $3,250,832.21. This represents a 6.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,308 shares of company stock valued at $2,133,467 over the last three months. 5.00% of the stock is currently owned by company insiders.

Clean Harbors Profile

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.