Cannell Capital LLC Raises Stock Position in Clean Harbors, Inc. (NYSE:CLH)

Cannell Capital LLC boosted its position in shares of Clean Harbors, Inc. (NYSE:CLH) by 17.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 71,412 shares of the business services provider’s stock after acquiring an additional 10,355 shares during the quarter. Clean Harbors makes up approximately 3.4% of Cannell Capital LLC’s holdings, making the stock its 10th biggest holding. Cannell Capital LLC’s holdings in Clean Harbors were worth $16,435,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Clean Harbors by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 4,659,064 shares of the business services provider’s stock valued at $1,072,237,000 after acquiring an additional 11,814 shares during the last quarter. Wellington Management Group LLP increased its holdings in Clean Harbors by 17.2% during the 4th quarter. Wellington Management Group LLP now owns 4,044,092 shares of the business services provider’s stock valued at $930,707,000 after purchasing an additional 592,341 shares during the period. Pictet Asset Management Holding SA raised its position in Clean Harbors by 72.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,658,128 shares of the business services provider’s stock valued at $381,602,000 after purchasing an additional 697,630 shares during the last quarter. State Street Corp lifted its holdings in Clean Harbors by 1.5% in the 3rd quarter. State Street Corp now owns 1,510,363 shares of the business services provider’s stock worth $365,070,000 after buying an additional 21,662 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Clean Harbors by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 847,715 shares of the business services provider’s stock worth $204,955,000 after buying an additional 11,808 shares during the last quarter. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Robert Speights sold 2,725 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $190.44, for a total transaction of $518,949.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren States sold 308 shares of Clean Harbors stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $239.04, for a total value of $73,624.32. Following the transaction, the director now directly owns 12,226 shares in the company, valued at approximately $2,922,503.04. The trade was a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,341 shares of company stock valued at $663,041. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Robert W. Baird decreased their target price on Clean Harbors from $285.00 to $272.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. StockNews.com lowered shares of Clean Harbors from a “buy” rating to a “hold” rating in a report on Tuesday, April 1st. Truist Financial cut 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. BMO Capital Markets decreased their price target on shares of Clean Harbors from $284.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $268.00 price objective on shares of Clean Harbors in a research report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $266.56.

Clean Harbors Trading Down 1.5 %

Clean Harbors stock opened at $186.39 on Tuesday. The company has a market capitalization of $10.04 billion, a price-to-earnings ratio of 25.12 and a beta of 1.11. The company has a current ratio of 2.21, a quick ratio of 1.76 and a debt-to-equity ratio of 1.08. Clean Harbors, Inc. has a 12 month low of $178.29 and a 12 month high of $267.11. The business’s fifty day simple moving average is $211.43 and its two-hundred day simple moving average is $233.41.

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