Bank of Nova Scotia Sells 4,054 Shares of Clean Harbors, Inc. (NYSE:CLH)

Posted by Defense World Staff on May 24th, 2023

Clean Harbors logo Bank of Nova Scotia decreased its holdings in shares of Clean Harbors, Inc. (NYSE:CLH – Get Rating) by 46.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,628 shares of the business services provider’s stock after selling 4,054 shares during the period. Bank of Nova Scotia’s holdings in Clean Harbors were worth $528,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Signaturefd LLC increased its holdings in Clean Harbors by 112.3% in the third quarter. Signaturefd LLC now owns 225 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 119 shares during the last quarter. Ronald Blue Trust Inc. raised its position in shares of Clean Harbors by 122.1% in the 4th quarter. Ronald Blue Trust Inc. now owns 231 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 127 shares during the period. Accurate Wealth Management LLC bought a new position in Clean Harbors during the 4th quarter worth approximately $28,000. Raleigh Capital Management Inc. grew its holdings in Clean Harbors by 200.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 285 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 190 shares during the period. Finally, Fifth Third Bancorp increased its stake in Clean Harbors by 35.7% in the fourth quarter. Fifth Third Bancorp now owns 312 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 88.13% of the company’s stock.

Clean Harbors Price Performance

NYSE CLH opened at $143.81 on Wednesday. The firm’s 50 day moving average is $139.21 and its 200-day moving average is $129.01. The company has a quick ratio of 1.71, a current ratio of 2.05 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $7.78 billion, a PE ratio of 17.84 and a beta of 1.38. Clean Harbors, Inc. has a 12-month low of $81.56 and a 12-month high of $147.76.

Clean Harbors (NYSE:CLH – Get Rating) last posted its quarterly earnings data on Wednesday, March 1st. The business services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. Clean Harbors had a net margin of 8.27% and a return on equity of 22.43%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the business posted $0.89 EPS. The company’s quarterly revenue was up 14.2% on a year-over-year basis. Equities research analysts anticipate that Clean Harbors, Inc. will post 6.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Truist Financial began coverage on shares of Clean Harbors in a report on Monday, April 17th. They issued a “buy” rating and a $165.00 price target for the company. Raymond James raised their price target on Clean Harbors from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a research report on Sunday, March 5th. BMO Capital Markets lifted their price objective on Clean Harbors from $132.00 to $154.00 and gave the company an “outperform” rating in a report on Thursday, March 2nd. StockNews.com began coverage on Clean Harbors in a research note on Thursday, May 18th. They set a “buy” rating for the company. Finally, Oppenheimer lifted their price target on shares of Clean Harbors from $145.00 to $151.00 and gave the company an “outperform” rating in a research note on Thursday, March 30th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $152.22.

Insider Buying and Selling at Clean Harbors

In other news, insider Alan S. Mckim sold 16,200 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $139.60, for a total value of $2,261,520.00. Following the completion of the sale, the insider now owns 2,868,937 shares of the company’s stock, valued at approximately $400,503,605.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Sharon M. Gabriel sold 3,810 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $138.92, for a total transaction of $529,285.20. Following the transaction, the executive vice president now directly owns 29,554 shares of the company’s stock, valued at approximately $4,105,641.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan S. Mckim sold 16,200 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $139.60, for a total value of $2,261,520.00. Following the sale, the insider now directly owns 2,868,937 shares of the company’s stock, valued at approximately $400,503,605.20. The disclosure for this sale can be found here. Insiders sold a total of 31,812 shares of company stock worth $4,382,064 over the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

Clean Harbors Profile

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Clean Harbors, Inc engages in the provision of environmental, energy, and industrial services. It operates through the Environmental Services and the Safety-Kleen Sustainability Solutions segments. The Environmental Services segment consists of the technical services, industrial services, field services, and oil, gas, and lodging businesses.