Lincoln Capital LLC lifted its position in Ecolab Inc. (NYSE:ECL) by 25.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,405 shares of the basic materials company’s stock after acquiring an additional 2,086 shares during the period. Ecolab accounts for approximately 0.9% of Lincoln Capital LLC’s investment portfolio, making the stock its 24th biggest holding. Lincoln Capital LLC’s holdings in Ecolab were worth $2,061,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cibc Bank USA boosted its holdings in Ecolab by 9.1% in the third quarter. Cibc Bank USA now owns 2,239 shares of the basic materials company’s stock valued at $443,000 after purchasing an additional 186 shares during the last quarter. Aldebaran Financial Inc. boosted its holdings in Ecolab by 2.5% in the third quarter. Aldebaran Financial Inc. now owns 11,808 shares of the basic materials company’s stock valued at $2,313,000 after purchasing an additional 284 shares during the last quarter. Avitas Wealth Management LLC boosted its holdings in Ecolab by 12.6% in the third quarter. Avitas Wealth Management LLC now owns 3,654 shares of the basic materials company’s stock valued at $724,000 after purchasing an additional 409 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Ecolab by 3.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,711 shares of the basic materials company’s stock valued at $537,000 after purchasing an additional 89 shares during the last quarter. Finally, Mechanics Bank Trust Department purchased a new stake in Ecolab in the third quarter valued at $106,000. 75.95% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on ECL shares. ValuEngine lowered shares of Ecolab from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. UBS Group set a $202.00 price target on shares of Ecolab and gave the company a “hold” rating in a report on Wednesday, July 31st. Canaccord Genuity upped their price target on shares of Ecolab from $198.00 to $222.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Nomura upped their price target on shares of Ecolab from $208.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Credit Suisse Group set a $181.00 price target on shares of Ecolab and gave the company a “neutral” rating in a report on Wednesday, July 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $193.14.
In related news, insider Catelan Leanne purchased 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were purchased at an average cost of $1.16 per share, with a total value of $58,000.00. Also, EVP Alex N. Blanco sold 51,400 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $203.07, for a total transaction of $10,437,798.00. Following the completion of the transaction, the executive vice president now directly owns 59,425 shares in the company, valued at $12,067,434.75. The disclosure for this sale can be found here. Insiders sold a total of 66,358 shares of company stock worth $13,423,309 over the last ninety days. 1.52% of the stock is currently owned by corporate insiders.
Shares of ECL stock traded down $2.22 during mid-day trading on Tuesday, hitting $189.39. 34,784 shares of the stock were exchanged, compared to its average volume of 849,072. The firm has a fifty day moving average of $197.12 and a 200 day moving average of $193.63. The company has a quick ratio of 0.78, a current ratio of 1.18 and a debt-to-equity ratio of 0.72. Ecolab Inc. has a 52-week low of $135.77 and a 52-week high of $209.87. The company has a market cap of $55.77 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 2.63 and a beta of 0.81.
Ecolab (NYSE:ECL) last posted its earnings results on Tuesday, July 30th. The basic materials company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.01. Ecolab had a net margin of 10.12% and a return on equity of 19.81%. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the company posted $1.27 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts predict that Ecolab Inc. will post 5.91 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Monday, September 16th. Ecolab’s payout ratio is currently 35.05%.
Ecolab Inc provides water, hygiene, and energy technologies and services worldwide. The company operates through Global Industrial, Global Institutional, Global Energy, and Other segments. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions primarily to industrial customers within the manufacturing, food and beverage processing, transportation, chemical, primary metals and mining, power generation, pulp and paper, pharmaceutical, and commercial laundry.
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