Albert D Mason Inc. lowered its position in Ecolab Inc. (NYSE:ECL) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,435 shares of the basic materials company’s stock after selling 30 shares during the period. Albert D Mason Inc.’s holdings in Ecolab were worth $456,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in ECL. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of Ecolab by 60.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 800 shares of the basic materials company’s stock worth $100,000 after buying an additional 300 shares during the last quarter. JNBA Financial Advisors raised its position in shares of Ecolab by 2.5% in the first quarter. JNBA Financial Advisors now owns 871 shares of the basic materials company’s stock worth $109,000 after buying an additional 21 shares during the last quarter. Harfst & Associates Inc. acquired a new position in shares of Ecolab during the first quarter worth about $117,000. Guardian Life Insurance Co. of America raised its position in shares of Ecolab by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,012 shares of the basic materials company’s stock worth $127,000 after buying an additional 7 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Ecolab during the first quarter worth about $134,000. Hedge funds and other institutional investors own 75.66% of the company’s stock.
Shares of Ecolab Inc. (ECL) traded down 0.15% during trading on Tuesday, reaching $131.75. 228,133 shares of the company traded hands. The firm’s 50-day moving average is $132.62 and its 200-day moving average is $127.25. Ecolab Inc. has a 12-month low of $110.65 and a 12-month high of $134.89. The stock has a market capitalization of $38.18 billion, a PE ratio of 30.12 and a beta of 0.98.
Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.01. Ecolab had a net margin of 9.66% and a return on equity of 18.93%. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the company earned $1.08 EPS. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities analysts predict that Ecolab Inc. will post $4.80 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Tuesday, September 19th will be paid a $0.37 dividend. The ex-dividend date is Monday, September 18th. This represents a $1.48 dividend on an annualized basis and a yield of 1.12%. Ecolab’s dividend payout ratio is presently 33.79%.
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A number of research analysts have issued reports on the stock. Deutsche Bank AG increased their target price on shares of Ecolab from $132.00 to $134.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $141.00 target price (up previously from $133.00) on shares of Ecolab in a research report on Friday, June 2nd. Zacks Investment Research lowered shares of Ecolab from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Credit Suisse Group set a $128.00 target price on shares of Ecolab and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, Canaccord Genuity increased their target price on shares of Ecolab from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Ecolab has an average rating of “Buy” and an average price target of $133.43.
In related news, major shareholder William H. Gates III purchased 75,500 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was acquired at an average price of $132.57 per share, with a total value of $10,009,035.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Bruno Lavandier sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $133.52, for a total transaction of $133,520.00. Following the completion of the transaction, the senior vice president now directly owns 8,922 shares of the company’s stock, valued at approximately $1,191,265.44. The disclosure for this sale can be found here. In the last three months, insiders sold 44,810 shares of company stock valued at $5,897,361. Corporate insiders own 1.49% of the company’s stock.
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s cleaning and sanitizing programs and products, pest elimination services and equipment maintenance and repair services support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors in over 170 countries.
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