Robert Speights, President of Industrial Services at Clean Harbors Inc . (NYSE:CLH), recently sold 610 shares of the company's common stock. The transaction, which took place on November 5, 2024, was executed at a price of $240.14 per share, resulting in a total sale value of $146,485. Following this transaction, Speights holds 39,160 shares directly. Clean Harbors, based in Norwell, Massachusetts, is a prominent player in the hazardous waste management industry.
In other recent news, Clean Harbors has been the subject of revised expectations from BMO Capital Markets. The firm has lowered the price target for the company to $273 from $281, yet maintained an Outperform rating. This adjustment follows Clean Harbors' mixed Q3 results, which saw an increase in year-over-year revenue by 12%, and adjusted EBITDA up by nearly $47 million. The Environmental Services (ES) segment experienced a 13% revenue increase and a 15% rise in adjusted EBITDA. However, the Safety-Kleen Sustainability Solutions (SKSS) segment fell short of expectations, reporting an $11 million shortfall. Clean Harbors finished Q3 with a cash balance of $595 million, and plans to pursue acquisitions and share buybacks. The company anticipates mid-single-digit organic revenue growth and adjusted EBITDA growth in the mid to high single digits for 2025. These are among the recent developments for Clean Harbors.
InvestingPro Insights
To provide additional context to Robert Speights' recent stock sale, let's examine some key financial metrics and insights from InvestingPro for Clean Harbors Inc. (NYSE:CLH).
As of the latest data, Clean Harbors boasts a market capitalization of $13.98 billion, reflecting its significant presence in the hazardous waste management sector. The company's stock has shown remarkable performance, with a 56.23% total return over the past year, and is currently trading near its 52-week high at 97.21% of that peak.
InvestingPro Tips highlight that Clean Harbors operates with a moderate level of debt and maintains liquid assets that exceed short-term obligations, suggesting a solid financial foundation. This financial stability may provide context for why insiders like Speights might choose to realize gains through stock sales while maintaining substantial holdings.
The company's P/E ratio stands at 33.59, which InvestingPro categorizes as high relative to near-term earnings growth. This valuation metric, coupled with the stock trading near its 52-week high, might indicate that some investors, including insiders, view the current price as an opportune moment for profit-taking.
Clean Harbors has demonstrated strong financial performance, with revenue growth of 8.37% over the last twelve months and an impressive 11.99% growth in the most recent quarter. The company's profitability is also noteworthy, with a gross profit margin of 31.25% and an operating income margin of 11.74% for the last twelve months.
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for Clean Harbors, providing a deeper dive into the company's financial health and market position.
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