Cardinal Capital Management decreased its position in shares of Ecolab Inc. (NYSE:ECL) by 0.5% during the second quarter, Holdings Channel reports. The fund owned 38,275 shares of the company’s stock after selling 186 shares during the period. Ecolab makes up approximately 1.8% of Cardinal Capital Management’s portfolio, making the stock its 11th largest position. Cardinal Capital Management’s holdings in Ecolab were worth $4,539,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Intermede Investment Partners Ltd boosted its stake in Ecolab by 2.1% in the second quarter. Intermede Investment Partners Ltd now owns 159,707 shares of the company’s stock worth $18,941,000 after buying an additional 3,235 shares during the last quarter. Legal & General Group Plc boosted its stake in Ecolab by 1.5% in the first quarter. Legal & General Group Plc now owns 1,174,164 shares of the company’s stock worth $130,953,000 after buying an additional 17,795 shares during the last quarter. Nordea Investment Management AB boosted its stake in Ecolab by 1.8% in the second quarter. Nordea Investment Management AB now owns 37,520 shares of the company’s stock worth $4,450,000 after buying an additional 660 shares during the last quarter. Comgest Global Investors S.A.S. boosted its stake in Ecolab by 22.0% in the second quarter. Comgest Global Investors S.A.S. now owns 118,000 shares of the company’s stock worth $13,995,000 after buying an additional 21,300 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its stake in Ecolab by 6.6% in the first quarter. Rehmann Capital Advisory Group now owns 2,463 shares of the company’s stock worth $275,000 after buying an additional 153 shares during the last quarter. 74.80% of the stock is owned by institutional investors.
Shares of Ecolab Inc. (NYSE:ECL) traded down 0.50% during mid-day trading on Monday, hitting $121.11. 732,750 shares of the stock traded hands. Ecolab Inc. has a 12-month low of $98.62 and a 12-month high of $124.60. The firm has a market cap of $35.32 billion, a price-to-earnings ratio of 37.98 and a beta of 0.87. The firm’s 50 day moving average price is $121.07 and its 200 day moving average price is $117.85.
Ecolab (NYSE:ECL) last issued its earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.08. Ecolab had a net margin of 7.20% and a return on equity of 19.24%. The business earned $3.32 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the prior year, the business posted $1.08 EPS. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities research analysts predict that Ecolab Inc. will post $4.44 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Tuesday, September 20th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, September 16th. Ecolab’s payout ratio is 43.89%.
ECL has been the subject of a number of analyst reports. Nomura increased their target price on shares of Ecolab from $94.00 to $98.00 and gave the company a “reduce” rating in a research report on Monday, August 22nd. Jefferies Group reaffirmed a “hold” rating on shares of Ecolab in a report on Wednesday, July 6th. Canaccord Genuity reaffirmed a “buy” rating on shares of Ecolab in a report on Wednesday, June 22nd. Citigroup Inc. raised their price target on shares of Ecolab from $117.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, July 15th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $120.00 price target on shares of Ecolab in a report on Friday, July 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Ecolab currently has an average rating of “Hold” and an average price target of $126.74.
In related news, Chairman Douglas M. Baker, Jr. sold 25,800 shares of the company’s stock in a transaction 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 owns 456,349 shares in the company, valued at approximately $55,861,681.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Christophe Beck sold 5,789 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $122.70, for a total transaction of $710,310.30. Following the completion of the sale, the executive vice president now owns 32,475 shares of the company’s stock, valued at approximately $3,984,682.50. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.
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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