State of New Jersey Common Pension Fund D lowered its holdings in Ecolab Inc. (NYSE:ECL) by 6.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 170,572 shares of the basic materials company’s stock after selling 11,872 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Ecolab worth $34,087,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in ECL. Morgan Stanley increased its position in Ecolab by 7.2% during the 1st quarter. Morgan Stanley now owns 5,095,171 shares of the basic materials company’s stock worth $793,980,000 after purchasing an additional 344,404 shares in the last quarter. AXA grew its holdings in Ecolab by 7.4% in the 1st quarter. AXA now owns 530,174 shares of the basic materials company’s stock valued at $82,617,000 after buying an additional 36,335 shares during the period. Squarepoint Ops LLC purchased a new stake in Ecolab in the 1st quarter valued at about $544,000. Modus Advisors LLC purchased a new stake in Ecolab in the 2nd quarter valued at about $106,000. Finally, Park National Corp OH grew its holdings in Ecolab by 37.6% in the 2nd quarter. Park National Corp OH now owns 56,039 shares of the basic materials company’s stock valued at $11,149,000 after buying an additional 15,313 shares during the period. 74.16% of the stock is owned by institutional investors.
In related news, EVP Jill S. Wyant sold 5,729 shares of Ecolab 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 sale, the executive vice president now owns 24,827 shares of the company’s stock, valued at approximately $5,066,197.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.22% of the company’s stock.
Several analysts have commented on ECL shares. UBS Group lowered their price target on Ecolab from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Tuesday, October 6th. Zacks Investment Research upgraded Ecolab from a “sell” rating to a “hold” rating and set a $207.00 price target for the company in a report on Wednesday, September 30th. Oppenheimer restated a “hold” rating on shares of Ecolab in a report on Monday, August 3rd. Boenning Scattergood upgraded Ecolab from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $197.84 to $230.00 in a report on Tuesday, July 28th. Finally, Evercore ISI began coverage on Ecolab in a report on Monday, September 21st. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. Ecolab presently has an average rating of “Hold” and an average price target of $193.62.
NYSE:ECL opened at $186.94 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.22 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $53.35 billion, a price-to-earnings ratio of -63.37, a PEG ratio of 4.93 and a beta of 0.93. The firm’s fifty day simple moving average is $200.92 and its 200 day simple moving average is $199.16. Ecolab Inc. has a twelve month low of $124.60 and a twelve month high of $231.36.
Ecolab (NYSE:ECL) last posted its earnings results on Tuesday, October 27th. The basic materials company reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.03. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3 billion. Ecolab had a negative net margin of 6.17% and a positive return on equity of 18.80%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 EPS. On average, analysts predict that Ecolab Inc. will post 4.08 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Tuesday, September 15th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, September 14th. This represents a $1.88 annualized dividend and a dividend yield of 1.01%. Ecolab’s payout ratio is 32.30%.
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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