Federated Hermes Inc. Reduces Stake in Clean Harbors, Inc. (NYSE:CLH)

Federated Hermes Inc. decreased its position in Clean Harbors, Inc. (NYSE:CLH) by 17.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 386,954 shares of the business services provider’s stock after selling 83,238 shares during the period. Federated Hermes Inc. owned about 0.71% of Clean Harbors worth $67,527,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. boosted its position in shares of Clean Harbors by 1.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 31,942 shares of the business services provider’s stock worth $5,574,000 after buying an additional 547 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Clean Harbors by 4.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,660 shares of the business services provider’s stock worth $2,384,000 after acquiring an additional 640 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Clean Harbors by 12.5% in the fourth quarter. Vontobel Holding Ltd. now owns 612,015 shares of the business services provider’s stock valued at $106,803,000 after purchasing an additional 67,809 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Clean Harbors in the fourth quarter valued at approximately $2,461,000. Finally, Genesee Capital Advisors LLC increased its stake in shares of Clean Harbors by 4.1% during the 4th quarter. Genesee Capital Advisors LLC now owns 9,011 shares of the business services provider’s stock worth $1,573,000 after purchasing an additional 351 shares in the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Truist Financial upped their target price on Clean Harbors from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Needham & Company LLC increased their price objective on Clean Harbors from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Oppenheimer boosted their target price on shares of Clean Harbors from $178.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Robert W. Baird raised their price target on shares of Clean Harbors from $192.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, BMO Capital Markets boosted their price objective on shares of Clean Harbors from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $207.90.

Clean Harbors Price Performance

CLH opened at $190.99 on Friday. Clean Harbors, Inc. has a 1 year low of $129.70 and a 1 year high of $204.06. The company’s 50 day simple moving average is $190.75 and its 200 day simple moving average is $174.54. The stock has a market capitalization of $10.44 billion, a PE ratio of 27.48 and a beta of 1.24. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.66 and a current ratio of 1.98.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings results on Wednesday, February 21st. The business services provider reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.13. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.36 billion. Clean Harbors had a net margin of 6.99% and a return on equity of 17.83%. Clean Harbors’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 earnings per share. As a group, sell-side analysts expect that Clean Harbors, Inc. will post 7.38 EPS for the current year.

Insider Buying and Selling

In other Clean Harbors news, CEO Eric W. Gerstenberg sold 15,276 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $187.71, for a total transaction of $2,867,457.96. Following the completion of the sale, the chief executive officer now owns 67,374 shares of the company’s stock, valued at $12,646,773.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director John T. Preston sold 1,913 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $188.36, for a total transaction of $360,332.68. Following the completion of the sale, the director now owns 4,767 shares of the company’s stock, valued at approximately $897,912.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric W. Gerstenberg sold 15,276 shares of Clean Harbors stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $187.71, for a total transaction of $2,867,457.96. Following the transaction, the chief executive officer now directly owns 67,374 shares in the company, valued at $12,646,773.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,185 shares of company stock valued at $4,819,554. 6.70% of the stock is currently owned by company insiders.

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.