Hedeker Wealth LLC purchased a new stake in Ecolab Inc. (NYSE:ECL) during the second quarter, Holdings Channel reports. The firm purchased 9,125 shares of the company’s stock, valued at approximately $1,082,000.
Several other hedge funds have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Ecolab by 1.2% in the first quarter. State Street Corp now owns 11,250,339 shares of the company’s stock worth $1,254,647,000 after buying an additional 135,777 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Ecolab by 14.8% in the first quarter. UBS Asset Management Americas Inc. now owns 3,099,051 shares of the company’s stock worth $345,606,000 after buying an additional 399,797 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Ecolab by 2.0% in the first quarter. Geode Capital Management LLC now owns 2,058,986 shares of the company’s stock worth $229,130,000 after buying an additional 39,907 shares in the last quarter. Swedbank raised its stake in shares of Ecolab by 31.8% in the second quarter. Swedbank now owns 1,279,249 shares of the company’s stock worth $151,719,000 after buying an additional 308,469 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 74.79% of the company’s stock.
Shares of Ecolab Inc. (NYSE:ECL) traded down 0.36% on Monday, hitting $116.34. 656,393 shares of the stock were exchanged. Ecolab Inc. has a 12 month low of $98.62 and a 12 month high of $124.60. The company has a 50-day moving average price of $120.04 and a 200 day moving average price of $118.51. The company has a market cap of $33.92 billion, a PE ratio of 36.48 and a beta of 0.87.
Ecolab (NYSE:ECL) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.08 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.08. Ecolab had a net margin of 7.20% and a return on equity of 19.24%. The company earned $3.32 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the prior year, the company earned $1.08 EPS. The firm’s revenue was down 2.1% on a year-over-year basis. Equities analysts forecast that Ecolab Inc. will post $4.44 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Tuesday, September 20th will be paid a $0.35 dividend. The ex-dividend date is Friday, September 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.20%. Ecolab’s dividend payout ratio (DPR) is 43.89%.
ECL has been the topic of a number of research analyst reports. Canaccord Genuity restated a “buy” rating on shares of Ecolab in a research report on Wednesday, June 22nd. Nomura cut their target price on shares of 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 restated an “overweight” rating and issued a $120.00 target price on shares of Ecolab in a research report on Friday, July 1st. Jefferies Group restated a “hold” rating on shares of Ecolab in a research report on Wednesday, July 6th. Finally, Citigroup Inc. raised their target price on shares of Ecolab from $117.00 to $127.00 and gave the company a “neutral” rating in a research report on Friday, July 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $127.68.
In related news, 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 directly owns 32,475 shares in the company, valued at approximately $3,984,682.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael A. Hickey sold 17,761 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $123.90, for a total transaction of $2,200,587.90. Following the sale, the executive vice president now owns 61,342 shares of the company’s stock, valued at $7,600,273.80. 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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