Lauren States, a director at Clean Harbors Inc . (NYSE:CLH), recently sold 308 shares of the company's common stock. The sale, conducted on November 15, 2024, was executed at a price of $249.78 per share, amounting to a total transaction value of $76,932. Following this sale, States holds 12,842 shares in the company. Clean Harbors, based in Norwell, Massachusetts, specializes in hazardous waste management and environmental services.
In other recent news, Clean Harbors has seen mixed results in its Q3 2024 performance. The company reported a 12% increase in year-over-year revenue, with adjusted EBITDA up 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 with an $11 million shortfall.
In addition, BMO Capital Markets has revised its price target for Clean Harbors to $273 from $281, maintaining an Outperform rating. This adjustment reflects a cautious stance on the company's near-term prospects due to risks in some of its cyclical businesses. Despite these challenges, BMO Capital believes Clean Harbors has potential for organic growth and margin improvement, particularly in the ES segment.
Clean Harbors ended Q3 with a cash balance of $595 million, with plans to pursue acquisitions and share buybacks. The company also revised its adjusted EBITDA guidance for 2024 to a midpoint of $1.11 billion. Looking ahead, Clean Harbors anticipates mid-single-digit organic revenue growth and adjusted EBITDA growth in the mid to high single digits for 2025. These are the recent developments for Clean Harbors.
InvestingPro Insights
As Lauren States reduces her stake in Clean Harbors Inc. (NYSE:CLH), investors might be curious about the company's current financial standing and market position. According to InvestingPro data, Clean Harbors boasts a market capitalization of $13.16 billion, reflecting its significant presence in the hazardous waste management and environmental services sector.
The company's financial performance has been robust, with revenue growth of 8.37% over the last twelve months as of Q3 2024, reaching $5.79 billion. This growth is complemented by a strong EBITDA margin of 18.53% for the same period, indicating efficient operations and solid profitability.
InvestingPro Tips highlight that Clean Harbors has demonstrated high returns over the last year and decade, suggesting a track record of delivering value to shareholders. The company's liquid assets exceed short-term obligations, pointing to a healthy balance sheet. However, it's worth noting that Clean Harbors is trading at a high P/E ratio of 31.72, which may indicate that the stock is priced at a premium relative to its earnings.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Clean Harbors, providing deeper insights into the company's financial health and market position. These additional tips can be particularly valuable for those looking to understand the full picture behind director transactions like the one executed by Lauren States.
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