Clean Harbors (NYSE:CLH) Trading Down 6.2% on Insider Selling

Clean Harbors, Inc. (NYSE:CLH - Get Free Report)'s share price dropped 6.2% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $214.71 and last traded at $212.62. Approximately 120,876 shares changed hands during trading, a decline of 64% from the average daily volume of 337,289 shares. The stock had previously closed at $226.70.

Specifically, Director Lauren States sold 308 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $228.79, for a total value of $70,467.32. Following the sale, the director now directly owns 11,918 shares in the company, valued at $2,726,719.22. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CLH shares. Truist Financial dropped their price target on shares of Clean Harbors from $280.00 to $270.00 and set a "buy" rating on the stock in a research report on Thursday. TD Cowen began coverage on shares of Clean Harbors in a research note on Friday, December 6th. They set a "buy" rating and a $325.00 target price for the company. StockNews.com downgraded Clean Harbors from a "strong-buy" rating to a "buy" rating in a report on Thursday, October 31st. Robert W. Baird dropped their price objective on Clean Harbors from $285.00 to $272.00 and set an "outperform" rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus decreased their target price on Clean Harbors from $290.00 to $285.00 and set a "buy" rating for the company in a research note on Thursday. One 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's stock. Based on data from MarketBeat, Clean Harbors presently has an average rating of "Buy" and a consensus target price of $270.56.

Clean Harbors Price Performance

The business has a 50-day moving average of $233.69 and a 200 day moving average of $242.09. The firm has a market capitalization of $11.74 billion, a P/E ratio of 29.35 and a beta of 1.24. 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 (NYSE:CLH - Get Free Report) last issued its earnings results 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. Clean Harbors had a return on equity of 16.33% and a net margin of 6.83%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the firm earned $1.82 earnings per share. Clean Harbors's revenue for the quarter was up 6.9% on a year-over-year basis. On average, sell-side analysts predict that Clean Harbors, Inc. will post 8.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CLH. Putney Financial Group LLC bought a new position in Clean Harbors in the 4th quarter valued at about $511,000. Toronto Dominion Bank purchased a new stake in shares of Clean Harbors in the fourth quarter worth approximately $3,295,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Clean Harbors by 0.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 395,276 shares of the business services provider's stock valued at $90,969,000 after purchasing an additional 3,284 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of Clean Harbors in the fourth quarter valued at approximately $543,000. Finally, Williams Jones Wealth Management LLC. boosted its position in shares of Clean Harbors by 148.0% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 50,459 shares of the business services provider's stock valued at $11,613,000 after buying an additional 30,111 shares during the last quarter. 90.43% of the stock is owned by institutional investors.

Clean Harbors Company 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.