Ingalls & Snyder LLC reduced its position in Ecolab Inc. (NYSE:ECL) by 11.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 11,451 shares of the basic materials company’s stock after selling 1,500 shares during the quarter. Ingalls & Snyder LLC’s holdings in Ecolab were worth $1,607,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in ECL. FTB Advisors Inc. increased its stake in Ecolab by 3.8% in the 1st quarter. FTB Advisors Inc. now owns 27,654 shares of the basic materials company’s stock valued at $3,810,000 after buying an additional 1,012 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Ecolab by 9.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 8,497 shares of the basic materials company’s stock worth $1,165,000 after purchasing an additional 751 shares during the period. Rhumbline Advisers grew its stake in shares of Ecolab by 0.3% during the 1st quarter. Rhumbline Advisers now owns 502,734 shares of the basic materials company’s stock worth $68,910,000 after purchasing an additional 1,688 shares during the period. Mcdonald Capital Investors Inc. CA grew its stake in shares of Ecolab by 0.5% during the 1st quarter. Mcdonald Capital Investors Inc. CA now owns 874,966 shares of the basic materials company’s stock worth $119,932,000 after purchasing an additional 4,558 shares during the period. Finally, Fulton Bank N.A. grew its stake in shares of Ecolab by 56.5% during the 1st quarter. Fulton Bank N.A. now owns 6,051 shares of the basic materials company’s stock worth $830,000 after purchasing an additional 2,184 shares during the period. 76.42% of the stock is currently owned by institutional investors.
In related news, EVP Christophe Beck sold 25,500 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $147.83, for a total value of $3,769,665.00. Following the sale, the executive vice president now directly owns 27,649 shares in the company, valued at approximately $4,087,351.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Maclennan acquired 500 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The stock was acquired at an average price of $146.40 per share, for a total transaction of $73,200.00. Following the completion of the transaction, the director now directly owns 2,128 shares in the company, valued at $311,539.20. The disclosure for this purchase can be found here. Insiders sold a total of 51,500 shares of company stock worth $7,611,383 over the last quarter. Insiders own 1.50% of the company’s stock.
Ecolab stock opened at $150.87 on Thursday. Ecolab Inc. has a 52 week low of $125.74 and a 52 week high of $151.01. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.84 and a current ratio of 1.27. The stock has a market capitalization of $43.28 billion, a P/E ratio of 32.17, a price-to-earnings-growth ratio of 2.18 and a beta of 0.95.
Ecolab (NYSE:ECL) last released its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $1.27 EPS for the quarter, hitting the consensus estimate of $1.27. Ecolab had a net margin of 10.83% and a return on equity of 18.96%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the firm earned $1.13 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. analysts forecast that Ecolab Inc. will post 5.37 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 given a $0.41 dividend. The ex-dividend date is Monday, September 17th. This represents a $1.64 annualized dividend and a dividend yield of 1.09%. Ecolab’s dividend payout ratio is presently 34.97%.
ECL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of Ecolab from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 1st. Zacks Investment Research cut shares of Ecolab from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Canaccord Genuity set a $160.00 price target on shares of Ecolab and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Credit Suisse Group upped their price target on shares of Ecolab from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 1st. Finally, ValuEngine cut shares of Ecolab from a “buy” rating to a “hold” rating in a research note on Saturday, May 26th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $147.00.
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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