King Luther Capital Management Corp boosted its stake in Ecolab Inc. (NYSE:ECL) by 0.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 882,339 shares of the basic materials company’s stock after buying an additional 6,636 shares during the quarter. King Luther Capital Management Corp owned approximately 0.31% of Ecolab worth $123,819,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. Braun Bostich & Associates Inc. increased its holdings in shares of Ecolab by 487.7% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 858 shares of the basic materials company’s stock worth $120,000 after buying an additional 712 shares during the last quarter. Squar Milner Financial Services LLC bought a new position in shares of Ecolab during the second quarter worth about $126,000. Signaturefd LLC bought a new position in shares of Ecolab during the first quarter worth about $131,000. LeJeune Puetz Investment Counsel LLC bought a new position in shares of Ecolab during the second quarter worth about $154,000. Finally, Harfst & Associates Inc. bought a new position in shares of Ecolab during the second quarter worth about $201,000. 76.42% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Darrell R. Brown sold 11,800 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $150.25, for a total transaction of $1,772,950.00. Following the transaction, the executive vice president now owns 18,641 shares in the company, valued at $2,800,810.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roberto Inchaustegui sold 10,600 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $145.71, for a total transaction of $1,544,526.00. Following the transaction, the executive vice president now owns 33,202 shares in the company, valued at approximately $4,837,863.42. The disclosure for this sale can be found here. Insiders have sold 63,300 shares of company stock worth $9,384,333 in the last quarter. Company insiders own 1.50% of the company’s stock.
Shares of NYSE:ECL opened at $152.47 on Thursday. Ecolab Inc. has a 52 week low of $125.74 and a 52 week high of $152.52. The company has a market capitalization of $43.47 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 2.19 and a beta of 0.99. 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 announced its quarterly earnings results on Tuesday, July 31st. The basic materials company reported $1.27 EPS for the quarter, meeting the consensus estimate of $1.27. Ecolab had a net margin of 10.83% and a return on equity of 18.96%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the business earned $1.13 earnings per share. Ecolab’s revenue was up 6.6% compared to the same quarter last year. sell-side analysts predict that Ecolab Inc. will post 5.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Tuesday, September 18th will be paid a dividend of $0.41 per share. 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 1.08%. Ecolab’s dividend payout ratio is presently 34.97%.
A number of brokerages have issued reports on ECL. JPMorgan Chase & Co. raised shares of Ecolab from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 1st. Zacks Investment Research cut shares of Ecolab from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Canaccord Genuity set a $160.00 target price on shares of Ecolab and gave the stock a “buy” rating in a report on Tuesday, July 24th. Credit Suisse Group raised their target price on shares of Ecolab from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, August 1st. Finally, Oppenheimer raised their target price on shares of Ecolab from $153.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, August 7th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $147.00.
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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