Sciencast Management LP lowered its holdings in shares of Ecolab Inc. (NYSE:ECL) by 15.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,168 shares of the basic materials company’s stock after selling 392 shares during the quarter. Sciencast Management LP’s holdings in Ecolab were worth $439,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in Ecolab by 497.3% during the 2nd quarter. Pacer Advisors Inc. now owns 21,396 shares of the basic materials company’s stock worth $4,257,000 after purchasing an additional 17,814 shares in the last quarter. SlateStone Wealth LLC boosted its holdings in shares of Ecolab by 12.3% in the second quarter. SlateStone Wealth LLC now owns 4,027 shares of the basic materials company’s stock valued at $801,000 after buying an additional 440 shares during the period. Eos Focused Equity Management L.P. increased its position in shares of Ecolab by 59.3% during the second quarter. Eos Focused Equity Management L.P. now owns 33,838 shares of the basic materials company’s stock worth $6,732,000 after acquiring an additional 12,595 shares in the last quarter. Point View Wealth Management Inc. acquired a new stake in shares of Ecolab during the second quarter worth $255,000. Finally, GWM Advisors LLC lifted its position in Ecolab by 8.3% in the 2nd quarter. GWM Advisors LLC now owns 113,797 shares of the basic materials company’s stock valued at $22,640,000 after acquiring an additional 8,703 shares in the last quarter. Institutional investors and hedge funds own 74.14% of the company’s stock.
Several analysts have issued reports on ECL shares. Citigroup dropped their price target on Ecolab from $185.00 to $164.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Boenning Scattergood upgraded Ecolab from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $197.84 to $230.00 in a report on Tuesday, July 28th. Stifel Nicolaus boosted their target price on Ecolab from $164.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Bank of America assumed coverage on shares of Ecolab in a research note on Wednesday, July 8th. They set a “neutral” rating and a $212.00 price target for the company. Finally, G.Research lowered shares of Ecolab from a “buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. Ecolab presently has a consensus rating of “Hold” and a consensus target price of $190.43.
In related news, EVP Timothy P. Mulhere sold 7,388 shares of Ecolab stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $196.35, for a total value of $1,450,633.80. Following the transaction, the executive vice president now directly owns 24,160 shares of the company’s stock, valued at $4,743,816. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laurie M. Marsh sold 12,235 shares of Ecolab stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $212.20, for a total transaction of $2,596,267.00. Following the completion of the transaction, the executive vice president now directly owns 25,324 shares in the company, valued at $5,373,752.80. The disclosure for this sale can be found here. Insiders sold 49,023 shares of company stock worth $10,095,797 over the last 90 days. 1.22% of the stock is currently owned by corporate insiders.
Shares of ECL opened at $187.08 on Friday. The firm has a market cap of $54.10 billion, a P/E ratio of 36.33, a price-to-earnings-growth ratio of 4.19 and a beta of 1.00. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.15 and a current ratio of 1.60. Ecolab Inc. has a 52 week low of $124.60 and a 52 week high of $231.36. The firm’s 50-day simple moving average is $202.22 and its 200 day simple moving average is $192.99.
Ecolab (NYSE:ECL) last issued its quarterly earnings data on Tuesday, July 28th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.20). Ecolab had a positive return on equity of 18.80% and a negative net margin of 6.17%. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the firm earned $1.42 EPS. The company’s revenue was down 28.6% on a year-over-year basis. As a group, equities analysts forecast that Ecolab Inc. will post 4.26 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Monday, June 15th. Ecolab’s dividend payout ratio is currently 32.30%.
Ecolab Company Profile
Ecolab Inc provides water, hygiene, and energy technologies and services worldwide. The company operates through Global Industrial, Global Institutional, Global Energy, and Other segments. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions primarily to industrial customers within the manufacturing, food and beverage processing, transportation, chemical, primary metals and mining, power generation, pulp and paper, pharmaceutical, and commercial laundry.
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