John R. Welch, a director at Clean Harbors INC (NYSE: CLH), sold 750 shares of the company's common stock on February 19, 2026, according to a Form 4 filed with the Securities and Exchange Commission. The shares were disposed of at $273.07 apiece, producing a total transaction value of $204,802.
The trade occurred while Clean Harbors' shares were trading close to a 52-week high of $288.81. At the time of the filing the stock was quoted at $284.69, representing a year-to-date gain of 21%.
Following the sale, Welch's direct holdings stand at 10,237 shares of Clean Harbors common stock.
Independent valuation commentary from InvestingPro noted that Clean Harbors appears overvalued relative to its Fair Value assessment and is trading at a price-to-earnings ratio of 38.77.
Separately, the company has reported a string of operational and strategic developments. Clean Harbors outperformed consensus expectations for both revenue and adjusted EBITDA in the fourth quarter of 2025, which the company characterized as its strongest quarterly revenue growth for the year. Management set fiscal 2026 net income and free cash flow midpoints above Street expectations and unveiled multiple capital allocation initiatives.
On the M&A front, Clean Harbors disclosed plans to acquire Depot Connect International’s Industrial and Rail Services business for approximately $130 million. The transaction is expected to close in the first half of 2026.
Market analysts responded to the company's recent results and strategic moves by lifting price targets. Needham raised its target to $308, citing robust fourth-quarter results. Oppenheimer and BMO Capital increased their targets to $300 and $310, respectively, pointing to a positive outlook and demand. TD Cowen raised its target to $320 and highlighted the company’s M&A potential.
These moves - insider selling, strong quarterly performance, raised guidance, analyst target revisions and a planned acquisition - together paint a picture of active corporate momentum and strategic repositioning. The combination of operational beats and announced capital deployment has influenced market and analyst reactions while leaving valuation metrics and deal execution as items for investors to track.
Key points
- Director sale: John R. Welch sold 750 shares on February 19, 2026, for $273.07 per share, totaling $204,802.
- Financial momentum: Clean Harbors beat Q4 2025 revenue and adjusted EBITDA estimates and set FY2026 net income and free cash flow midpoints above expectations.
- Strategic action: The company agreed to acquire Depot Connect International’s Industrial and Rail Services business for about $130 million, with closing expected in H1 2026; several analysts raised price targets.
Risks and uncertainties
- Valuation: InvestingPro indicates Clean Harbors is trading above its Fair Value, with a P/E of 38.77 - a consideration for equity investors and capital markets participants.
- Deal execution: The acquisition of Depot Connect International’s Industrial and Rail Services business is expected to close in the first half of 2026, and the timing and completion remain conditional.
- Market sensitivity: Insider selling while the stock trades near a 52-week high introduces potential sentiment volatility for the industrial and environmental services sectors.