Clean Harbors, Inc. (NYSE:CLH) Position Reduced by M&T Bank Corp

M&T Bank Corp cut its stake in Clean Harbors, Inc. (NYSE:CLH - Free Report) by 5.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,927 shares of the business services provider's stock after selling 2,116 shares during the period. M&T Bank Corp owned about 0.06% of Clean Harbors worth $8,442,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in Clean Harbors during the 2nd quarter worth $25,000. UMB Bank n.a. grew its stake in shares of Clean Harbors by 63.4% during the 3rd quarter. UMB Bank n.a. now owns 214 shares of the business services provider's stock worth $52,000 after purchasing an additional 83 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in Clean Harbors during the second quarter worth about $56,000. Prospera Private Wealth LLC purchased a new position in Clean Harbors in the third quarter valued at about $56,000. Finally, CENTRAL TRUST Co boosted its stake in shares of Clean Harbors by 161.6% during the 3rd quarter. CENTRAL TRUST Co now owns 259 shares of the business services provider's stock worth $63,000 after acquiring an additional 160 shares in the last quarter. Institutional investors and hedge funds own 90.43% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CLH shares. 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 note on Thursday, October 31st. Stifel Nicolaus raised their price objective on shares of Clean Harbors from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Wednesday. StockNews.com downgraded Clean Harbors from a "strong-buy" rating to a "buy" rating in a research report on Thursday, October 31st. TD Cowen started coverage on Clean Harbors in a report on Friday, December 6th. They set a "buy" rating and a $325.00 target price on the stock. Finally, Robert W. Baird cut their price target on Clean Harbors from $300.00 to $285.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Clean Harbors currently has an average rating of "Buy" and a consensus target price of $271.00.

Clean Harbors Stock Down 1.8 %

Clean Harbors stock traded down $4.51 during midday trading on Thursday, hitting $247.44. The stock had a trading volume of 219,543 shares, compared to its average volume of 296,086. The stock has a market cap of $13.34 billion, a P/E ratio of 32.81 and a beta of 1.22. The business has a fifty day moving average price of $252.27 and a 200 day moving average price of $238.71. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.10. Clean Harbors, Inc. has a 12 month low of $161.39 and a 12 month high of $267.11.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.53 billion for 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%. Clean Harbors's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.68 EPS. Research analysts predict that Clean Harbors, Inc. will post 7.21 EPS for the current year.

Insider Activity

In related news, CEO Michael Louis Battles sold 10,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $245.74, for a total transaction of $2,457,400.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Speights sold 610 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $240.14, for a total value of $146,485.40. Following the sale, the insider now owns 39,160 shares of the company's stock, valued at $9,403,882.40. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,447 shares of company stock valued at $4,576,829. Insiders own 5.90% of the company's stock.

Clean Harbors Profile

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.