DNB Asset Management AS lessened its stake in Ecolab Inc. (NYSE:ECL) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,878 shares of the basic materials company’s stock after selling 1,680 shares during the quarter. DNB Asset Management AS’s holdings in Ecolab were worth $5,625,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Braun Bostich & Associates Inc. boosted its holdings in shares of Ecolab by 487.7% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 858 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 712 shares during the last quarter. Squar Milner Financial Services LLC acquired a new position in shares of Ecolab in the 2nd quarter valued at $126,000. Flagship Harbor Advisors LLC acquired a new position in shares of Ecolab in the 2nd quarter valued at $139,000. LeJeune Puetz Investment Counsel LLC acquired a new position in shares of Ecolab in the 2nd quarter valued at $154,000. Finally, Summit Trail Advisors LLC boosted its holdings in shares of Ecolab by 14,388.0% in the 1st quarter. Summit Trail Advisors LLC now owns 162,411 shares of the basic materials company’s stock valued at $162,000 after purchasing an additional 161,290 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.
In related news, Director Victoria Reich sold 6,700 shares of Ecolab stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $148.40, for a total transaction of $994,280.00. Following the sale, the director now owns 20,987 shares of the company’s stock, valued at approximately $3,114,470.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 sale, the executive vice president now directly owns 33,202 shares in the company, valued at approximately $4,837,863.42. The disclosure for this sale can be found here. Insiders have sold a total of 114,885 shares of company stock worth $17,369,786 in the last ninety days. 1.50% of the stock is currently owned by insiders.
A number of equities analysts have weighed in on the stock. Boenning Scattergood reiterated a “buy” rating on shares of Ecolab in a report on Tuesday, July 31st. Nomura lifted their price target on shares of Ecolab from $146.00 to $153.00 and gave the company a “neutral” rating in a report on Monday, August 13th. Zacks Investment Research lowered shares of Ecolab from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. JPMorgan Chase & Co. lowered shares of Ecolab from a “neutral” rating to an “underweight” rating in a report on Thursday, June 28th. Finally, Credit Suisse Group lifted their target price on shares of Ecolab from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, August 1st. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $151.87.
NYSE:ECL opened at $145.98 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.84 and a debt-to-equity ratio of 0.80. The firm has a market cap of $45.29 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 2.28 and a beta of 0.95. Ecolab Inc. has a twelve month low of $125.74 and a twelve month high of $159.92.
Ecolab (NYSE:ECL) last posted its earnings results on Tuesday, July 31st. The basic materials company reported $1.27 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.27. The business 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%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.13 EPS. Sell-side analysts forecast that Ecolab Inc. will post 5.37 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Tuesday, September 18th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.12%. The ex-dividend date is Monday, September 17th. Ecolab’s dividend payout ratio (DPR) is 34.97%.
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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