PNC Financial Services Group Inc. Grows Stock Holdings in Clean Harbors, Inc. (NYSE:CLH)

PNC Financial Services Group Inc. boosted its holdings in Clean Harbors, Inc. (NYSE:CLH) by 4.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,885 shares of the business services provider’s stock after buying an additional 221 shares during the period. PNC Financial Services Group Inc.’s holdings in Clean Harbors were worth $963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of CLH. Cambridge Investment Research Advisors Inc. grew its position in shares of Clean Harbors by 2.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,634 shares of the business services provider’s stock valued at $913,000 after purchasing an additional 122 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in shares of Clean Harbors by 16.2% during the 1st quarter. Concurrent Investment Advisors LLC now owns 1,059 shares of the business services provider’s stock valued at $209,000 after purchasing an additional 148 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Clean Harbors by 18.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,310 shares of the business services provider’s stock valued at $1,638,000 after purchasing an additional 1,301 shares in the last quarter. Deutsche Bank AG grew its position in shares of Clean Harbors by 1.0% during the 4th quarter. Deutsche Bank AG now owns 5,793 shares of the business services provider’s stock valued at $1,333,000 after purchasing an additional 56 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new position in shares of Clean Harbors during the 1st quarter valued at $202,000. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on CLH shares. BMO Capital Markets set a $268.00 target price on shares of Clean Harbors and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Truist Financial cut their target price on shares of Clean Harbors from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Robert W. Baird upped their target price on shares of Clean Harbors from $250.00 to $255.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Raymond James Financial upped their target price on shares of Clean Harbors from $278.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 31st. Finally, UBS Group upped their target price on shares of Clean Harbors from $220.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.40.

Clean Harbors Stock Performance

NYSE CLH opened at $237.67 on Tuesday. The company has a 50-day simple moving average of $230.89 and a two-hundred day simple moving average of $219.86. The company has a quick ratio of 2.07, a current ratio of 2.45 and a debt-to-equity ratio of 1.02. Clean Harbors, Inc. has a 12-month low of $178.29 and a 12-month high of $267.11. The firm has a market cap of $12.75 billion, a price-to-earnings ratio of 33.38 and a beta of 1.18.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.03. Clean Harbors had a net margin of 6.48% and a return on equity of 14.82%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The company’s revenue was down .2% on a year-over-year basis. On average, equities analysts forecast that Clean Harbors, Inc. will post 7.89 EPS for the current year.

Insider Buying and Selling at Clean Harbors

In other news, Director Alison A. Quirk sold 893 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $223.69, for a total transaction of $199,755.17. Following the completion of the transaction, the director directly owned 2,978 shares of the company’s stock, valued at approximately $666,148.82. This represents a 23.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Brian P. Weber sold 3,035 shares of the company’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $227.17, for a total transaction of $689,460.95. Following the transaction, the executive vice president directly owned 54,548 shares of the company’s stock, valued at approximately $12,391,669.16. This trade represents a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,948 shares of company stock valued at $3,611,729. 5.60% of the stock is currently owned by insiders.

Clean Harbors Company Profile

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.