Ingalls & Snyder LLC decreased its holdings in Ecolab Inc. (NYSE:ECL) by 11.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,451 shares of the basic materials company’s stock after selling 1,500 shares during the period. Ingalls & Snyder LLC’s holdings in Ecolab were worth $1,607,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ECL. Bank of New York Mellon Corp raised its position in shares of Ecolab by 84.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,752,688 shares of the basic materials company’s stock worth $526,615,000 after acquiring an additional 1,723,429 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Ecolab in the 2nd quarter worth about $147,206,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Ecolab by 46.6% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,620,682 shares of the basic materials company’s stock worth $359,217,000 after acquiring an additional 833,015 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its position in shares of Ecolab by 30.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,813,341 shares of the basic materials company’s stock worth $385,623,000 after acquiring an additional 653,809 shares in the last quarter. Finally, Fiera Capital Corp increased its position in Ecolab by 60.3% in the 2nd quarter. Fiera Capital Corp now owns 1,006,453 shares of the basic materials company’s stock valued at $141,236,000 after buying an additional 378,720 shares in the last quarter. 76.42% of the stock is currently owned by institutional investors.
Ecolab stock opened at $156.54 on Friday. The firm has a market capitalization of $44.99 billion, a PE ratio of 33.38, a PEG ratio of 2.27 and a beta of 0.99. Ecolab Inc. has a fifty-two week low of $125.74 and a fifty-two week high of $156.71. The company has a current ratio of 1.27, a quick ratio of 0.84 and a debt-to-equity ratio of 0.80.
Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, July 31st. The basic materials company reported $1.27 earnings per share for the quarter, hitting the consensus estimate of $1.27. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations 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 prior year, the firm posted $1.13 earnings per share. sell-side analysts anticipate that Ecolab Inc. will post 5.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Tuesday, September 18th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, September 17th. This represents a $1.64 dividend on an annualized basis and a yield of 1.05%. Ecolab’s dividend payout ratio is presently 34.97%.
In other Ecolab news, EVP Larry L. Berger sold 9,317 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $153.65, for a total transaction of $1,431,557.05. Following the completion of the sale, the executive vice president now directly owns 31,093 shares in the company, valued at $4,777,439.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Timothy P. Mulhere sold 9,800 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $152.59, for a total transaction of $1,495,382.00. Following the sale, the executive vice president now owns 29,482 shares of the company’s stock, valued at $4,498,658.38. The disclosure for this sale can be found here. In the last three months, insiders sold 82,417 shares of company stock worth $12,311,272. 1.50% of the stock is owned by insiders.
A number of brokerages recently commented on ECL. Nomura reaffirmed a “hold” rating and issued a $146.00 target price on shares of Ecolab in a research report on Wednesday, August 1st. ValuEngine raised Ecolab from a “hold” rating to a “buy” rating in a report on Friday, September 7th. JPMorgan Chase & Co. lowered Ecolab from a “neutral” rating to an “underweight” rating in a report on Thursday, June 28th. Boenning Scattergood reissued a “buy” rating on shares of Ecolab in a report on Tuesday, July 31st. Finally, Zacks Investment Research raised Ecolab from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $149.00.
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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