DF Dent & Co. Inc. cut its position in Ecolab Inc. (NYSE:ECL) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,308,740 shares of the basic materials company’s stock after selling 8,791 shares during the period. Ecolab accounts for 4.1% of DF Dent & Co. Inc.’s holdings, making the stock its 2nd largest position. DF Dent & Co. Inc. owned about 0.45% of Ecolab worth $183,656,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Braun Bostich & Associates Inc. raised 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 buying an additional 712 shares during the period. Squar Milner Financial Services LLC purchased a new stake in shares of Ecolab in the 2nd quarter valued at $126,000. Signaturefd LLC purchased a new stake in shares of Ecolab in the 1st quarter valued at $131,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Ecolab in the 2nd quarter valued at $139,000. Finally, LeJeune Puetz Investment Counsel LLC purchased a new stake in Ecolab during the 2nd quarter worth about $154,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on ECL. Nomura restated a “hold” rating and set a $146.00 price target on shares of Ecolab in a report on Wednesday, August 1st. JPMorgan Chase & Co. downgraded Ecolab from a “neutral” rating to an “underweight” rating in a report on Thursday, June 28th. Boenning Scattergood restated a “buy” rating on shares of Ecolab in a report on Tuesday, July 31st. Zacks Investment Research upgraded Ecolab from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Oppenheimer upped their price target on Ecolab from $153.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, August 7th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $151.13.
In related news, Director David Maclennan acquired 500 shares of the firm’s stock in a transaction on Thursday, August 2nd. The stock was bought at an average cost of $146.40 per share, with a total value of $73,200.00. Following the transaction, the director now owns 2,128 shares of the company’s stock, valued at $311,539.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Victoria Reich sold 6,700 shares of the stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $148.40, for a total value of $994,280.00. Following the sale, the director now directly owns 20,987 shares of the company’s stock, valued at $3,114,470.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,885 shares of company stock valued at $17,369,786. Insiders own 1.50% of the company’s stock.
Shares of NYSE ECL traded up $1.48 during trading hours on Friday, reaching $157.59. The stock had a trading volume of 935,362 shares, compared to its average volume of 1,181,184. The stock has a market cap of $45.29 billion, a PE ratio of 33.60, a price-to-earnings-growth 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 fifty-two week low of $125.74 and a fifty-two week high of $159.92.
Ecolab (NYSE:ECL) last announced its earnings results on Tuesday, July 31st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.27. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Ecolab had a return on equity of 18.96% and a net margin of 10.83%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 EPS. 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 given 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 dividend yield of 1.04%. Ecolab’s dividend payout ratio (DPR) is presently 34.97%.
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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