Public Employees Retirement System of Ohio Lowers Stake in Clean Harbors, Inc. (NYSE:CLH)

Public Employees Retirement System of Ohio lessened its holdings in Clean Harbors, Inc. (NYSE:CLH) by 12.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,154 shares of the business services provider’s stock after selling 2,791 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Clean Harbors were worth $4,871,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CLH. Innealta Capital LLC bought a new stake in shares of Clean Harbors in the 2nd quarter worth approximately $25,000. UMB Bank n.a. boosted its holdings in Clean Harbors by 63.4% in the third quarter. UMB Bank n.a. now owns 214 shares of the business services provider’s stock worth $52,000 after acquiring an additional 83 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Clean Harbors in the second quarter worth $56,000. Prospera Private Wealth LLC bought a new position in shares of Clean Harbors during the third quarter valued at $56,000. Finally, CENTRAL TRUST Co raised its position 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 last quarter. Institutional investors own 90.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Robert Speights sold 610 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $240.14, for a total value of $146,485.40. Following the transaction, the insider now directly owns 39,160 shares of the company’s stock, valued at approximately $9,403,882.40. This trade represents a 1.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Louis Battles sold 10,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $245.74, for a total value of $2,457,400.00. Following the sale, the chief executive officer now directly owns 77,136 shares of the company’s stock, valued at $18,955,400.64. This represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,447 shares of company stock valued at $4,576,829. 5.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Truist Financial increased their price objective on shares of Clean Harbors from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of Clean Harbors from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird lowered their price objective on Clean Harbors from $300.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Needham & Company LLC cut their target price on Clean Harbors from $274.00 to $268.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, TD Cowen assumed coverage on Clean Harbors in a research note on Friday, December 6th. They issued a “buy” rating and a $325.00 price target for the company. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Clean Harbors presently has an average rating of “Buy” and a consensus target price of $271.00.

Clean Harbors Stock Performance

CLH stock opened at $244.28 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.10 and a quick ratio of 1.76. Clean Harbors, Inc. has a 1 year low of $161.39 and a 1 year high of $267.11. The company has a market cap of $13.17 billion, a P/E ratio of 31.81 and a beta of 1.22. The stock’s fifty day moving average price is $252.32 and its 200-day moving average price is $239.13.

Clean Harbors (NYSE:CLH) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.03). The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. Clean Harbors had a net margin of 7.19% and a return on equity of 17.51%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.68 EPS. On average, equities analysts forecast that Clean Harbors, Inc. will post 7.21 earnings per share for the current 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.