Relational Investors Reduces Activist Stakes in Manitowoc Company Inc (MTW) and Clean Harbors Inc (CLH)

Clean Harbors Inc (NYSE:CLH) is engaged in providing environmental, energy and industrial services in North America, and has a market cap of $3 billion. Recently, Clean Harbors Inc (NYSE:CLH) signed an agreement to acquire Thermo Fluids Inc. from Nuverra Environmental Solutions Inc. (NYSE:NES) for $85 million in an all-cash transaction. The acquisition, subject to customary closing conditions, is expected to close by early March, 2015. Shares of Clean Harbors Inc (NYSE:CLH) traded up by 1.55% on Thursday at $50.51. The company gained 0.24% over the last calendar year. However, the stock lost 13.56% during the past six months. Analysts have a consensus average target price of $54.94 for the stock, showing a potential upside of nearly 10%, while the consensus average recommendation is ‘Overweight’.

Other large shareholders of Clean Harbors Inc (NYSE:CLH) include Lee Munder’s Lee Munder Capital Group, which disclosed owning 734,686 shares of the company as of September 30, 2014, and Ian Simm’s Impax Asset Management, which reported ownership of 546,107 shares of the company as of the end of September, 2014.

Disclosure: None