Sterling Capital Management LLC trimmed its holdings in Ecolab Inc. (NYSE:ECL) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 633,536 shares of the basic materials company’s stock after selling 3,563 shares during the period. Sterling Capital Management LLC owned about 0.22% of Ecolab worth $88,904,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in ECL. Bank of New York Mellon Corp lifted its position in shares of Ecolab by 84.9% during the second quarter. Bank of New York Mellon Corp now owns 3,752,688 shares of the basic materials company’s stock valued at $526,615,000 after purchasing an additional 1,723,429 shares in the last quarter. OppenheimerFunds Inc. lifted its position in shares of Ecolab by 11,817.2% during the second quarter. OppenheimerFunds Inc. now owns 1,112,230 shares of the basic materials company’s stock valued at $156,080,000 after purchasing an additional 1,102,897 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Ecolab during the second quarter valued at about $147,206,000. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Ecolab by 46.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,620,682 shares of the basic materials company’s stock valued at $359,217,000 after purchasing an additional 833,015 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Ecolab by 36.1% during the second quarter. Morgan Stanley now owns 2,797,769 shares of the basic materials company’s stock valued at $392,612,000 after purchasing an additional 742,376 shares in the last quarter. 76.42% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. ValuEngine raised shares of Ecolab from a “hold” rating to a “buy” rating in a research report on Friday. Oppenheimer raised their price objective on shares of Ecolab from $153.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, August 7th. Nomura raised their price objective on shares of Ecolab from $146.00 to $153.00 and gave the stock a “neutral” rating in a report on Monday, August 13th. Canaccord Genuity set a $160.00 price objective on shares of Ecolab and gave the stock a “buy” rating in a report on Tuesday, May 22nd. Finally, Zacks Investment Research upgraded shares of Ecolab from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $147.00.
NYSE ECL opened at $153.52 on Monday. Ecolab Inc. has a 52-week low of $125.74 and a 52-week high of $153.62. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.27 and a quick ratio of 0.84. The stock has a market cap of $44.30 billion, a P/E ratio of 32.73, a P/E/G ratio of 2.23 and a beta of 0.98.
Ecolab (NYSE:ECL) last posted its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.27. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.69 billion. Ecolab had a net margin of 10.83% and a return on equity of 18.96%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.13 earnings per share. equities research analysts anticipate that Ecolab Inc. will post 5.37 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Tuesday, September 18th will be paid a $0.41 dividend. The ex-dividend date is Monday, September 17th. This represents a $1.64 annualized dividend and a dividend yield of 1.07%. Ecolab’s payout ratio is 34.97%.
In other news, EVP Timothy P. Mulhere sold 9,800 shares of Ecolab stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $152.59, for a total value of $1,495,382.00. Following the completion of the transaction, the executive vice president now owns 29,482 shares in the company, valued at $4,498,658.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Maclennan bought 500 shares of Ecolab stock in a transaction dated Thursday, August 2nd. The stock was acquired at an average price of $146.40 per share, with a total value of $73,200.00. Following the purchase, the director now directly owns 2,128 shares of the company’s stock, valued at $311,539.20. The disclosure for this purchase can be found here. Insiders sold 73,100 shares of company stock valued at $10,879,715 in the last quarter. Corporate insiders own 1.50% of the company’s stock.
Ecolab Inc provides water, hygiene, and energy technologies and services for customers worldwide. The company operates through Global Industrial, Global Institutional, and Global Energy segments. The Global Industrial segment provides water treatment and process applications, and cleaning and sanitizing solutions primarily to large industrial customers within the manufacturing, food and beverage processing, chemical, mining and primary metals, power generation, pulp and paper, and commercial laundry industries.
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