Royal Bank of Canada Trims Stock Holdings in Clean Harbors, Inc. $CLH

Royal Bank of Canada decreased its holdings in shares of Clean Harbors, Inc. (NYSE:CLH) by 8.8% during the first quarter, HoldingsChannel reports. The fund owned 104,313 shares of the business services provider’s stock after selling 10,037 shares during the quarter. Royal Bank of Canada’s holdings in Clean Harbors were worth $29,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CLH. Elyxium Wealth LLC bought a new position in shares of Clean Harbors in the fourth quarter worth $26,000. Quattro Advisors LLC bought a new stake in shares of Clean Harbors during the 4th quarter valued at $26,000. MidFirst Bank purchased a new stake in Clean Harbors during the 4th quarter worth about $28,000. Parkside Financial Bank & Trust lifted its holdings in Clean Harbors by 205.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 119 shares of the business services provider’s stock worth $28,000 after purchasing an additional 80 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in Clean Harbors by 676.5% in the 4th quarter. Larson Financial Group LLC now owns 132 shares of the business services provider’s stock worth $31,000 after purchasing an additional 115 shares during the period. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Insider Buying and Selling

In other Clean Harbors news, Director Andrea Robertson sold 789 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $314.01, for a total value of $247,753.89. Following the completion of the transaction, the director owned 8,979 shares of the company’s stock, valued at $2,819,495.79. The trade was a 8.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren States sold 789 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $286.19, for a total transaction of $225,803.91. Following the completion of the transaction, the director directly owned 11,359 shares in the company, valued at $3,250,832.21. The trade was a 6.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. TD Cowen lifted their target price on Clean Harbors from $335.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, July 30th. The Goldman Sachs Group reissued a “neutral” rating on shares of Clean Harbors in a report on Wednesday, July 29th. Citigroup raised their price objective on shares of Clean Harbors from $349.00 to $376.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Truist Financial boosted their price objective on shares of Clean Harbors from $350.00 to $365.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $350.00 target price on shares of Clean Harbors in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Clean Harbors currently has an average rating of “Moderate Buy” and an average target price of $354.57.

Clean Harbors Price Performance

Clean Harbors stock opened at $310.19 on Wednesday. The stock has a market cap of $16.38 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 2.05 and a beta of 0.86. The company has a quick ratio of 1.80, a current ratio of 2.13 and a debt-to-equity ratio of 0.94. The business has a 50-day simple moving average of $296.60 and a 200 day simple moving average of $289.70. Clean Harbors, Inc. has a 52 week low of $201.34 and a 52 week high of $335.94.

Clean Harbors (NYSE:CLH) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.41. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%.The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.36 EPS. On average, research analysts forecast that Clean Harbors, Inc. will post 9.51 earnings per share for the current fiscal year.

About Clean Harbors

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.