Pitcairn Co. reduced its stake in Ecolab Inc. (NYSE:ECL) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,005 shares of the company’s stock after selling 315 shares during the period. Pitcairn Co.’s holdings in Ecolab were worth $2,966,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. raised its position in Ecolab by 14.8% in the first quarter. UBS Asset Management Americas Inc. now owns 3,099,051 shares of the company’s stock valued at $345,606,000 after buying an additional 399,797 shares during the last quarter. Douglas Lane & Associates LLC bought a new position in Ecolab during the first quarter valued at approximately $35,292,000. Swedbank raised its position in Ecolab by 31.8% in the second quarter. Swedbank now owns 1,279,249 shares of the company’s stock valued at $151,719,000 after buying an additional 308,469 shares during the last quarter. Franklin Resources Inc. raised its position in Ecolab by 6.1% in the first quarter. Franklin Resources Inc. now owns 4,143,991 shares of the company’s stock valued at $462,142,000 after buying an additional 239,441 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in Ecolab during the second quarter valued at approximately $19,574,000. 74.82% of the stock is owned by hedge funds and other institutional investors.
Shares of Ecolab Inc. (NYSE:ECL) traded up 0.25% during trading on Monday, reaching $117.62. The company’s stock had a trading volume of 600,452 shares. The firm has a market capitalization of $34.30 billion, a P/E ratio of 36.88 and a beta of 0.90. Ecolab Inc. has a 52 week low of $98.62 and a 52 week high of $124.60. The company has a 50 day moving average price of $121.71 and a 200 day moving average price of $117.08.
Ecolab (NYSE:ECL) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.08. The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Ecolab had a return on equity of 19.24% and a net margin of 7.20%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 EPS. On average, equities research analysts expect that Ecolab Inc. will post $4.44 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Tuesday, September 20th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.19%. The ex-dividend date is Friday, September 16th. Ecolab’s dividend payout ratio (DPR) is presently 43.89%.
Several research analysts have recently commented on ECL shares. Jefferies Group reissued a “hold” rating on shares of Ecolab in a research report on Wednesday, July 6th. Nomura reduced their target price on Ecolab from $96.00 to $94.00 and set a “reduce” rating on the stock in a research report on Wednesday, June 29th. Barclays PLC reaffirmed an “overweight” rating and set a $120.00 target price on shares of Ecolab in a research report on Friday, July 1st. Macquarie assumed coverage on Ecolab in a research report on Thursday, August 25th. They set an “outperform” rating and a $143.00 target price on the stock. Finally, Zacks Investment Research raised Ecolab from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. Ecolab presently has an average rating of “Hold” and a consensus target price of $126.74.
In other Ecolab news, EVP Michael A. Hickey sold 17,761 shares of Ecolab stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $123.90, for a total value of $2,200,587.90. Following the sale, the executive vice president now owns 61,342 shares of the company’s stock, valued at approximately $7,600,273.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Douglas M. Baker, Jr. sold 25,800 shares of Ecolab stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $122.41, for a total value of $3,158,178.00. Following the completion of the sale, the chairman now directly owns 456,349 shares in the company, valued at approximately $55,861,681.09. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
Ecolab Company Profile
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s segments include Global Industrial, Global Institutional, Global Energy, Other and Corporate. The Global Industrial segment consists of the Water, Food and Beverage, Paper and Textile Care operating units. The Global Institutional segment consists of the Institutional, Specialty and Healthcare operating units.
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