Vestmark Advisory Solutions Inc. Sells 7,878 Shares of Clean Harbors, Inc. $CLH

Vestmark Advisory Solutions Inc. decreased its holdings in Clean Harbors, Inc. (NYSE:CLH) by 51.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,328 shares of the business services provider’s stock after selling 7,878 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Clean Harbors were worth $1,702,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. boosted its position in shares of Clean Harbors by 8.6% during the third quarter. Bessemer Group Inc. now owns 1,097,702 shares of the business services provider’s stock valued at $254,908,000 after buying an additional 87,322 shares during the last quarter. Norges Bank purchased a new position in Clean Harbors during the second quarter valued at approximately $147,632,000. First Trust Advisors LP boosted its holdings in Clean Harbors by 2.8% in the 2nd quarter. First Trust Advisors LP now owns 550,176 shares of the business services provider’s stock worth $127,190,000 after buying an additional 14,865 shares during the period. Nordea Investment Management AB bought a new position in shares of Clean Harbors in the third quarter worth about $108,608,000. Finally, Bank of New York Mellon Corp raised its position in shares of Clean Harbors by 14.6% during the second quarter. Bank of New York Mellon Corp now owns 423,025 shares of the business services provider’s stock valued at $97,795,000 after buying an additional 53,828 shares during the last quarter. 90.43% of the stock is owned by hedge funds and other institutional investors.

Clean Harbors Stock Up 1.5%

CLH stock opened at $284.91 on Wednesday. The firm has a 50-day moving average of $257.11 and a two-hundred day moving average of $240.76. The company has a market cap of $15.07 billion, a price-to-earnings ratio of 39.14 and a beta of 0.96. The company has a current ratio of 2.33, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. Clean Harbors, Inc. has a 12 month low of $178.29 and a 12 month high of $288.81.

Clean Harbors (NYSE:CLH) last released its quarterly earnings data on Wednesday, February 18th. The business services provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.03. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Clean Harbors had a return on equity of 14.47% and a net margin of 6.48%.The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 earnings per share. As a group, analysts forecast that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John R. Welch sold 750 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $273.07, for a total transaction of $204,802.50. Following the sale, the director owned 10,237 shares of the company’s stock, valued at approximately $2,795,417.59. This trade represents a 6.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric W. Gerstenberg sold 601 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $240.90, for a total value of $144,780.90. Following the transaction, the chief executive officer directly owned 50,454 shares in the company, valued at approximately $12,154,368.60. This represents a 1.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 7,679 shares of company stock worth $2,132,403 in the last ninety days. 5.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Clean Harbors from $230.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Monday. TD Cowen reaffirmed a “buy” rating on shares of Clean Harbors in a research note on Thursday, February 19th. The Goldman Sachs Group increased their target price on shares of Clean Harbors from $228.00 to $253.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Truist Financial upped their price objective on Clean Harbors from $250.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Finally, Robert W. Baird set a $300.00 price target on shares of Clean Harbors in a report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $292.18.

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.