Webster Bank N. A. lowered its position in Ecolab Inc. (NYSE:ECL) by 6.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,215 shares of the basic materials company’s stock after selling 1,865 shares during the period. Webster Bank N. A.’s holdings in Ecolab were worth $4,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. raised its stake in shares of Ecolab by 18.8% during the second quarter. Baillie Gifford & Co. now owns 16,402 shares of the basic materials company’s stock valued at $2,302,000 after acquiring an additional 2,601 shares in the last quarter. Colony Group LLC bought a new stake in shares of Ecolab during the second quarter valued at approximately $211,000. Royal London Asset Management Ltd. bought a new stake in shares of Ecolab during the second quarter valued at approximately $26,888,000. Landmark Bank bought a new stake in shares of Ecolab during the second quarter valued at approximately $1,195,000. Finally, BB&T Securities LLC raised its stake in shares of Ecolab by 3.5% during the second quarter. BB&T Securities LLC now owns 99,059 shares of the basic materials company’s stock valued at $13,900,000 after acquiring an additional 3,304 shares in the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.
ECL stock traded up $0.03 during trading on Friday, hitting $145.98. 1,532,500 shares of the company’s stock traded hands, compared to its average volume of 1,189,445. The firm has a market cap of $45.29 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 2.28 and a beta of 0.95. The company has a quick ratio of 0.84, a current ratio of 1.27 and a debt-to-equity ratio of 0.80. Ecolab Inc. has a 1 year low of $125.74 and a 1 year high of $159.92.
Ecolab (NYSE:ECL) last issued its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.27. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.69 billion. Ecolab had a net margin of 10.83% and a return on equity of 18.96%. Ecolab’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $1.13 earnings per share. Analysts anticipate that Ecolab Inc. will post 5.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Tuesday, September 18th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Monday, September 17th. Ecolab’s payout ratio is 34.97%.
In other Ecolab news, Director David Maclennan acquired 500 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The shares were bought at an average cost of $146.40 per share, with a total value of $73,200.00. Following the completion of the acquisition, the director now directly owns 2,128 shares in the company, valued at approximately $311,539.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Roberto Inchaustegui sold 10,600 shares of Ecolab stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $145.71, for a total transaction of $1,544,526.00. Following the completion of the transaction, the executive vice president now directly owns 33,202 shares in the company, valued at $4,837,863.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,885 shares of company stock worth $17,369,786. 1.50% of the stock is currently owned by corporate insiders.
Several analysts have recently weighed in on ECL shares. UBS Group lifted their price target on shares of Ecolab from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, October 2nd. Zacks Investment Research downgraded shares of Ecolab from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Nomura reaffirmed a “hold” rating and set a $146.00 price target on shares of Ecolab in a research note on Wednesday, August 1st. JPMorgan Chase & Co. raised shares of Ecolab from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 1st. Finally, ValuEngine raised shares of Ecolab from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $151.87.
Ecolab Company Profile
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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