Sei Investments Co. grew its stake in shares of Ecolab Inc. (NYSE:ECL) by 17.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 59,146 shares of the basic materials company’s stock after acquiring an additional 8,871 shares during the period. Sei Investments Co.’s holdings in Ecolab were worth $11,876,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Okabena Investment Services Inc. purchased a new stake in shares of Ecolab in the second quarter valued at $32,000. Wealth Quarterback LLC purchased a new stake in shares of Ecolab in the first quarter valued at $27,000. Arlington Partners LLC purchased a new stake in shares of Ecolab in the second quarter valued at $39,000. Cribstone Capital Management LLC purchased a new stake in shares of Ecolab in the second quarter valued at $40,000. Finally, Tarbox Family Office Inc. lifted its holdings in shares of Ecolab by 37.0% in the second quarter. Tarbox Family Office Inc. now owns 222 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 74.16% of the company’s stock.
Ecolab stock opened at $208.68 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.60 and a quick ratio of 1.22. The company has a market capitalization of $58.97 billion, a price-to-earnings ratio of -70.04, a PEG ratio of 4.94 and a beta of 0.94. Ecolab Inc. has a one year low of $124.60 and a one year high of $231.36. The company’s fifty day moving average price is $197.41 and its two-hundred day moving average price is $192.27.
Ecolab (NYSE:ECL) last posted its earnings results on Tuesday, July 28th. The basic materials company reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.20). The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Ecolab had a positive return on equity of 18.80% and a negative net margin of 6.17%. The company’s quarterly revenue was down 28.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.42 earnings per share. As a group, sell-side analysts anticipate that Ecolab Inc. will post 4.11 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.90%. The ex-dividend date is Monday, September 14th. Ecolab’s payout ratio is 32.30%.
In other Ecolab news, EVP Jill S. Wyant sold 5,729 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $204.06, for a total transaction of $1,169,059.74. Following the transaction, the executive vice president now directly owns 24,827 shares of the company’s stock, valued at $5,066,197.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.22% of the company’s stock.
A number of analysts have recently issued reports on the company. Boenning Scattergood upgraded Ecolab from a “neutral” rating to an “outperform” rating and increased their target price for the company from $197.84 to $230.00 in a report on Tuesday, July 28th. BMO Capital Markets increased their target price on Ecolab from $177.00 to $187.00 and gave the company a “market perform” rating in a report on Tuesday, September 8th. TheStreet lowered Ecolab from an “a-” rating to a “c+” rating in a report on Tuesday, July 28th. Bank of America started coverage on shares of Ecolab in a research note on Wednesday, July 8th. They issued a “neutral” rating and a $212.00 price target on the stock. Finally, G.Research downgraded shares of Ecolab from a “buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $189.69.
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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