M&T Bank Corp Reduces Holdings in Clean Harbors, Inc. (NYSE:CLH)

M&T Bank Corp reduced its stake in Clean Harbors, Inc. (NYSE:CLH) by 5.7% during the third quarter, Holdings Channel.com reports. The firm owned 34,927 shares of the business services provider’s stock after selling 2,116 shares during the period. M&T Bank Corp’s holdings in Clean Harbors were worth $8,442,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Driehaus Capital Management LLC increased its position in Clean Harbors by 17.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 123,813 shares of the business services provider’s stock valued at $28,000,000 after purchasing an additional 18,058 shares during the period. Barclays PLC raised its stake in Clean Harbors by 44.5% in the third quarter. Barclays PLC now owns 28,056 shares of the business services provider’s stock worth $6,781,000 after buying an additional 8,639 shares in the last quarter. Bridges Investment Management Inc. purchased a new stake in Clean Harbors in the second quarter worth about $729,000. Advisor Resource Council bought a new stake in Clean Harbors during the 3rd quarter valued at approximately $926,000. Finally, Anthracite Investment Company Inc. purchased a new position in shares of Clean Harbors during the 3rd quarter worth approximately $1,692,000. Institutional investors own 90.43% of the company’s stock.

Insider Activity

In other Clean Harbors news, EVP Brian P. Weber sold 861 shares of Clean Harbors stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $261.31, for a total value of $224,987.91. Following the completion of the sale, the executive vice president now owns 59,346 shares in the company, valued at $15,507,703.26. The trade was a 1.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren States sold 308 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $260.74, for a total value of $80,307.92. Following the sale, the director now owns 13,150 shares of the company’s stock, valued at approximately $3,428,731. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,446 shares of company stock valued at $2,119,483. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CLH shares. TD Cowen initiated coverage on shares of Clean Harbors in a research report on Friday, December 6th. They set a “buy” rating and a $325.00 price target for the company. Robert W. Baird lowered their target price on shares of Clean Harbors from $300.00 to $285.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus raised their price objective on Clean Harbors from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Truist Financial boosted their target price on Clean Harbors from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, StockNews.com downgraded Clean Harbors from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $271.00.

Clean Harbors Trading Down 1.3 %

Shares of Clean Harbors stock opened at $230.53 on Monday. Clean Harbors, Inc. has a fifty-two week low of $161.39 and a fifty-two week high of $267.11. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.76 and a current ratio of 2.10. The firm has a market capitalization of $12.43 billion, a price-to-earnings ratio of 30.02 and a beta of 1.22. The stock has a 50 day moving average of $250.74 and a 200 day moving average of $239.93.

Clean Harbors (NYSE:CLH) last released its earnings results on Wednesday, October 30th. The business services provider reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.03). Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the company posted $1.68 earnings per share. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, research analysts predict that Clean Harbors, Inc. will post 7.21 earnings per share for the current year.

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.