Norinchukin Bank The raised its stake in Ecolab Inc. (NYSE:ECL) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,469 shares of the basic materials company’s stock after acquiring an additional 1,055 shares during the quarter. Norinchukin Bank The’s holdings in Ecolab were worth $16,523,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Teachers Advisors LLC lifted its holdings in Ecolab by 3.5% in the second quarter. Teachers Advisors LLC now owns 447,826 shares of the basic materials company’s stock valued at $59,449,000 after acquiring an additional 15,279 shares during the period. CWA Asset Management Group LLC lifted its holdings in Ecolab by 10.7% in the second quarter. CWA Asset Management Group LLC now owns 14,920 shares of the basic materials company’s stock valued at $1,981,000 after acquiring an additional 1,437 shares during the period. Fiera Capital Corp lifted its holdings in Ecolab by 30.0% in the second quarter. Fiera Capital Corp now owns 562,133 shares of the basic materials company’s stock valued at $74,623,000 after acquiring an additional 129,835 shares during the period. Raymond James Trust N.A. lifted its holdings in Ecolab by 2.1% in the second quarter. Raymond James Trust N.A. now owns 17,005 shares of the basic materials company’s stock valued at $2,257,000 after acquiring an additional 357 shares during the period. Finally, Stephens Inc. AR lifted its holdings in Ecolab by 4.7% in the second quarter. Stephens Inc. AR now owns 18,332 shares of the basic materials company’s stock valued at $2,434,000 after acquiring an additional 822 shares during the period. 75.54% of the stock is owned by institutional investors.
Shares of Ecolab Inc. (ECL) opened at 131.05 on Friday. The stock has a market capitalization of $37.92 billion, a PE ratio of 29.96 and a beta of 0.99. The company’s 50 day moving average price is $131.31 and its 200 day moving average price is $129.38. Ecolab Inc. has a 12 month low of $110.65 and a 12 month high of $134.89.
Ecolab (NYSE:ECL) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.01. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Ecolab had a return on equity of 18.93% and a net margin of 9.66%. Ecolab’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 earnings per share. Equities analysts anticipate that Ecolab Inc. will post $4.74 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Tuesday, September 19th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $1.48 annualized dividend and a yield of 1.13%. Ecolab’s dividend payout ratio is presently 33.79%.
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A number of research analysts have issued reports on ECL shares. Credit Suisse Group reissued a “hold” rating on shares of Ecolab in a report on Wednesday, September 6th. Zacks Investment Research downgraded Ecolab from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $141.00 price target (up from $133.00) on shares of Ecolab in a report on Friday, June 2nd. Canaccord Genuity boosted their price objective on Ecolab from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Finally, BidaskClub upgraded Ecolab from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $133.93.
In other news, major shareholder William H. Gates III acquired 75,500 shares of Ecolab stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average cost of $132.57 per share, with a total value of $10,009,035.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas W. Handley sold 7,397 shares of Ecolab stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $130.63, for a total value of $966,270.11. The disclosure for this sale can be found here. Insiders own 1.49% of the company’s stock.
Ecolab Company Profile
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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