Modern Wealth Management LLC Cuts Position in Clean Harbors, Inc. (NYSE:CLH)

Modern Wealth Management LLC reduced its position in shares of Clean Harbors, Inc. (NYSE:CLH) by 4.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,240 shares of the business services provider’s stock after selling 64 shares during the period. Modern Wealth Management LLC’s holdings in Clean Harbors were worth $292,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Pathstone Holdings LLC boosted its holdings in Clean Harbors by 1.3% during the 3rd quarter. Pathstone Holdings LLC now owns 5,893 shares of the business services provider’s stock valued at $1,424,000 after acquiring an additional 73 shares during the period. Cerity Partners LLC lifted its position in shares of Clean Harbors by 30.6% during the third quarter. Cerity Partners LLC now owns 15,277 shares of the business services provider’s stock worth $3,693,000 after purchasing an additional 3,580 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Clean Harbors in the third quarter valued at approximately $919,000. Bank of Montreal Can grew its holdings in shares of Clean Harbors by 11.1% in the third quarter. Bank of Montreal Can now owns 40,629 shares of the business services provider’s stock valued at $9,687,000 after purchasing an additional 4,060 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Clean Harbors by 12.0% in the third quarter. FMR LLC now owns 1,747,215 shares of the business services provider’s stock valued at $422,319,000 after purchasing an additional 187,140 shares in the last quarter. 90.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on CLH. The Goldman Sachs Group reduced their target price on shares of Clean Harbors from $250.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. TD Cowen assumed coverage on Clean Harbors in a report on Friday, December 6th. They issued a “buy” rating and a $325.00 target price for the company. Truist Financial lowered their target price on Clean Harbors from $280.00 to $270.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Robert W. Baird reduced their price target on Clean Harbors from $285.00 to $272.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Finally, BMO Capital Markets lowered their price objective on Clean Harbors from $284.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Clean Harbors presently has a consensus rating of “Buy” and an average price target of $266.56.

Insider Activity at Clean Harbors

In other Clean Harbors news, insider Robert Speights sold 2,725 shares of Clean Harbors stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Eric J. Dugas acquired 1,050 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $191.38 per share, with a total value of $200,949.00. Following the completion of the acquisition, the chief financial officer now directly owns 24,238 shares of the company’s stock, valued at approximately $4,638,668.44. This trade represents a 4.53 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 3,341 shares of company stock valued at $663,041 over the last ninety days. Insiders own 5.90% of the company’s stock.

Clean Harbors Price Performance

Shares of NYSE CLH opened at $199.57 on Friday. The stock’s 50-day simple moving average is $217.75 and its 200-day simple moving average is $235.69. The firm has a market capitalization of $10.75 billion, a PE ratio of 26.90 and a beta of 1.22. 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.

Clean Harbors (NYSE:CLH) last released its quarterly earnings data on Wednesday, February 19th. The business services provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.19. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Clean Harbors had a net margin of 6.83% and a return on equity of 16.33%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $1.82 earnings per share. As a group, equities research analysts forecast that Clean Harbors, Inc. will post 7.89 EPS for the current fiscal year.

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.