Fifth Third Bancorp reduced its position in shares of Ecolab Inc. (NYSE:ECL) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 293,800 shares of the basic materials company’s stock after selling 1,523 shares during the period. Fifth Third Bancorp owned about 0.10% of Ecolab worth $46,062,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dupont Capital Management Corp acquired a new stake in Ecolab during the second quarter worth about $626,000. Raymond James Financial Services Advisors Inc. grew its stake in Ecolab by 6.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 40,881 shares of the basic materials company’s stock worth $5,740,000 after buying an additional 2,535 shares in the last quarter. Alps Advisors Inc. acquired a new stake in Ecolab during the second quarter worth about $399,000. First Trust Advisors LP grew its stake in Ecolab by 7.1% during the second quarter. First Trust Advisors LP now owns 150,384 shares of the basic materials company’s stock worth $21,103,000 after buying an additional 9,954 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Ecolab by 125.4% during the second quarter. Victory Capital Management Inc. now owns 93,624 shares of the basic materials company’s stock worth $13,138,000 after buying an additional 52,078 shares in the last quarter. Institutional investors and hedge funds own 75.91% of the company’s stock.
ECL opened at $154.07 on Friday. Ecolab Inc. has a 1-year low of $125.74 and a 1-year high of $162.91. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.90 and a current ratio of 1.34. The company has a market capitalization of $45.51 billion, a PE ratio of 32.85, a P/E/G ratio of 2.35 and a beta of 0.88.
Ecolab (NYSE:ECL) last posted its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $1.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.53. Ecolab had a net margin of 10.99% and a return on equity of 19.13%. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same period last year, the company posted $1.37 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts expect that Ecolab Inc. will post 5.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Tuesday, December 18th will be paid a $0.46 dividend. This is an increase from Ecolab’s previous quarterly dividend of $0.41. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Monday, December 17th. Ecolab’s dividend payout ratio (DPR) is presently 34.97%.
In related news, EVP Michael A. Hickey sold 32,468 shares of Ecolab stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $155.80, for a total transaction of $5,058,514.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Douglas M. Baker, Jr. sold 40,025 shares of Ecolab stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $160.20, for a total transaction of $6,412,005.00. Following the sale, the chairman now owns 558,017 shares in the company, valued at $89,394,323.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,621 shares of company stock worth $13,352,961. 1.50% of the stock is currently owned by corporate insiders.
A number of equities research analysts have issued reports on ECL shares. Bank of America started coverage on shares of Ecolab in a research note on Tuesday, October 23rd. They set a “buy” rating and a $123.00 price objective on the stock. Zacks Investment Research upgraded shares of Ecolab from a “hold” rating to a “buy” rating and set a $176.00 price objective on the stock in a research note on Wednesday, October 10th. UBS Group increased their price objective on shares of Ecolab from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. ValuEngine upgraded shares of Ecolab from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Finally, Deutsche Bank increased their price objective on shares of Ecolab from $150.00 to $162.00 and gave the stock a “hold” rating in a research note on Monday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. Ecolab has a consensus rating of “Hold” and a consensus target price of $154.47.
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.
See Also: Debt-To-Equity Ratio
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