Federated Hermes Inc. Lowers Holdings in Clean Harbors, Inc. (NYSE:CLH)

Federated Hermes Inc. lessened its holdings in Clean Harbors, Inc. (NYSE:CLH) by 17.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 386,954 shares of the business services provider’s stock after selling 83,238 shares during the period. Federated Hermes Inc.’s holdings in Clean Harbors were worth $67,527,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Millburn Ridgefield Corp acquired a new stake in shares of Clean Harbors during the 3rd quarter worth approximately $25,000. Catalyst Capital Advisors LLC purchased a new position in Clean Harbors in the third quarter valued at $25,000. Contravisory Investment Management Inc. acquired a new position in shares of Clean Harbors in the fourth quarter worth about $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of Clean Harbors by 76.0% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 264 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 114 shares during the period. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Clean Harbors in the 3rd quarter valued at about $33,000. 90.43% of the stock is currently owned by institutional investors.

Clean Harbors Price Performance

CLH stock 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 has a debt-to-equity ratio of 1.02, a current ratio of 1.98 and a quick ratio of 1.66. The firm has a market capitalization of $10.44 billion, a PE ratio of 27.48 and a beta of 1.24. The business has a 50 day simple moving average of $190.75 and a 200-day simple moving average of $174.54.

Clean Harbors (NYSE:CLH) last issued its earnings results on Wednesday, February 21st. The business services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.13. Clean Harbors had a return on equity of 17.83% and a net margin of 6.99%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the business earned $1.44 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Clean Harbors, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Activity at Clean Harbors

In related news, Director John T. Preston sold 1,913 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $188.36, for a total value of $360,332.68. Following the transaction, the director now directly owns 4,767 shares in the company, valued at $897,912.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John T. Preston sold 1,913 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $188.36, for a total transaction of $360,332.68. Following the completion of the transaction, the director now directly owns 4,767 shares in the company, valued at approximately $897,912.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric W. Gerstenberg sold 15,276 shares of the 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 completion of the sale, 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. Over the last quarter, insiders sold 25,185 shares of company stock valued at $4,819,554. 6.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on CLH. Robert W. Baird increased their price target on Clean Harbors from $192.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday. StockNews.com raised shares of Clean Harbors from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 29th. BMO Capital Markets lifted their target price 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. Needham & Company LLC boosted their target price on shares of Clean Harbors from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Finally, Truist Financial lifted their price objective on Clean Harbors from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Clean Harbors has a consensus rating of “Buy” and a consensus target price of $207.90.

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.