Victory Capital Management Inc. raised its position in Ecolab Inc. (NYSE:ECL) by 125.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 93,624 shares of the basic materials company’s stock after purchasing an additional 52,078 shares during the period. Victory Capital Management Inc.’s holdings in Ecolab were worth $13,138,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in ECL. Caisse DE Depot ET Placement DU Quebec lifted its holdings in 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 valued at $359,217,000 after purchasing an additional 833,015 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in 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 valued at $385,623,000 after purchasing an additional 653,809 shares in the last quarter. Aristotle Capital Management LLC lifted its holdings in Ecolab by 1,925.1% in the 1st quarter. Aristotle Capital Management LLC now owns 341,014 shares of the basic materials company’s stock valued at $46,743,000 after purchasing an additional 324,175 shares in the last quarter. BlackRock Inc. lifted its holdings in Ecolab by 1.8% in the 1st quarter. BlackRock Inc. now owns 16,001,452 shares of the basic materials company’s stock valued at $2,193,323,000 after purchasing an additional 288,375 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Ecolab by 156.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 338,803 shares of the basic materials company’s stock valued at $46,050,000 after purchasing an additional 206,824 shares in the last quarter. Institutional investors own 76.38% of the company’s stock.
A number of research analysts have weighed in on the company. Nomura restated a “hold” rating and issued a $146.00 price objective on shares of Ecolab in a report on Wednesday, August 1st. Oppenheimer raised their price objective on Ecolab from $153.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th. Credit Suisse Group raised their price objective on Ecolab from $137.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, May 2nd. Boenning Scattergood reiterated a “buy” rating on shares of Ecolab in a report on Tuesday, July 31st. Finally, Zacks Investment Research upgraded Ecolab from a “hold” rating to a “buy” rating and set a $165.00 price target on the stock in a report on Thursday, May 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. Ecolab presently has a consensus rating of “Hold” and an average price target of $147.00.
Shares of ECL opened at $147.31 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.27 and a quick ratio of 0.84. The company has a market capitalization of $42.43 billion, a P/E ratio of 31.41, a price-to-earnings-growth ratio of 2.14 and a beta of 0.95. Ecolab Inc. has a 52-week low of $125.74 and a 52-week high of $150.46.
Ecolab (NYSE:ECL) last issued its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $1.27 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.27. Ecolab had a return on equity of 18.96% and a net margin of 10.83%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the business earned $1.13 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. sell-side analysts predict that Ecolab Inc. will post 5.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Tuesday, September 18th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Monday, September 17th. Ecolab’s dividend payout ratio is presently 34.97%.
In other Ecolab news, Director David Maclennan bought 500 shares of Ecolab stock in a transaction that occurred on Thursday, August 2nd. The shares were purchased at an average cost of $146.40 per share, for a total transaction of $73,200.00. Following the completion of the transaction, the director now owns 2,128 shares of the company’s stock, valued at approximately $311,539.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Victoria Reich sold 6,700 shares of the stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $148.40, for a total value of $994,280.00. Following the transaction, the director now owns 20,987 shares in the company, valued at $3,114,470.80. The disclosure for this sale can be found here. Insiders sold 42,800 shares of company stock worth $6,308,471 in the last three months. 1.50% of the stock is owned by corporate insiders.
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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