Clean Harbors (CLH) Shares Down 5.5% on Insider Selling

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Clean Harbors Inc (NYSE:CLH) dropped 5.5% during trading on Thursday after an insider sold shares in the company. The company traded as low as $64.14 and last traded at $64.27. Approximately 687,862 shares traded hands during mid-day trading, an increase of 74% from the average daily volume of 396,139 shares. The stock had previously closed at $68.04.

Specifically, insider David J. Vergo sold 2,384 shares of Clean Harbors stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $62.22, for a total value of $148,332.48. Following the completion of the sale, the insider now directly owns 29,450 shares in the company, valued at $1,832,379. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David M. Parry sold 4,579 shares of Clean Harbors stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $68.76, for a total value of $314,852.04. Following the completion of the sale, the insider now owns 42,598 shares of the company’s stock, valued at $2,929,038.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,317 shares of company stock valued at $1,367,426. 8.70% of the stock is currently owned by corporate insiders.

CLH has been the subject of several recent research reports. BMO Capital Markets restated a “buy” rating and set a $65.00 price objective on shares of Clean Harbors in a report on Thursday, July 12th. ValuEngine upgraded Clean Harbors from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Stifel Nicolaus boosted their price objective on Clean Harbors from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Needham & Company LLC boosted their price objective on Clean Harbors from $63.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Finally, Robert W. Baird restated a “buy” rating and set a $69.00 price objective on shares of Clean Harbors in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $66.75.

The firm has a market cap of $3.57 billion, a P/E ratio of 194.76 and a beta of 1.06. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.09 and a quick ratio of 1.73.

Clean Harbors (NYSE:CLH) last released its quarterly earnings data on Wednesday, October 31st. The business services provider reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.16. The firm had revenue of $843.18 million during the quarter, compared to the consensus estimate of $846.07 million. Clean Harbors had a return on equity of 3.17% and a net margin of 3.69%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 earnings per share. As a group, equities analysts forecast that Clean Harbors Inc will post 1.01 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLH. First Allied Advisory Services Inc. boosted its position in shares of Clean Harbors by 19.0% during the second quarter. First Allied Advisory Services Inc. now owns 6,835 shares of the business services provider’s stock valued at $383,000 after buying an additional 1,092 shares during the last quarter. First Bank & Trust boosted its position in shares of Clean Harbors by 16.3% during the second quarter. First Bank & Trust now owns 9,867 shares of the business services provider’s stock valued at $548,000 after buying an additional 1,386 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Clean Harbors by 4.2% during the second quarter. Mutual of America Capital Management LLC now owns 43,935 shares of the business services provider’s stock valued at $2,441,000 after buying an additional 1,759 shares during the last quarter. Marathon Asset Management LLP boosted its position in shares of Clean Harbors by 0.3% during the second quarter. Marathon Asset Management LLP now owns 615,022 shares of the business services provider’s stock valued at $34,164,000 after buying an additional 1,841 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Clean Harbors by 131.9% during the third quarter. IFP Advisors Inc now owns 3,954 shares of the business services provider’s stock valued at $283,000 after buying an additional 2,249 shares during the last quarter. Hedge funds and other institutional investors own 94.74% of the company’s stock.

Clean Harbors Company Profile (NYSE:CLH)

Clean Harbors, Inc provides environmental, energy, and industrial services in North America. It operates through Technical Services; Industrial and Field Services; Safety-Kleen; and Oil, Gas and Lodging Services segments. The company's Technical Services segment provides a range of hazardous material management services, including the packaging, collection, transportation, treatment, and disposal of hazardous and non-hazardous waste at its incinerator, landfill, wastewater, and other treatment facilities.

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