Huntington National Bank Has $6,571,000 Position in Ecolab Inc. (ECL)
Huntington National Bank continued to hold its stake in Ecolab Inc. (NYSE:ECL) during the second quarter, Holdings Channel reports. The firm owned 57,447 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Ecolab were worth $6,571,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Washington Trust Bank increased its stake in Ecolab by 29.2% in the second quarter. Washington Trust Bank now owns 1,592 shares of the company’s stock valued at $189,000 after buying an additional 360 shares during the last quarter. Eagle Ridge Investment Management acquired a new stake in Ecolab during the second quarter valued at about $226,000. Stratos Wealth Partners LTD. increased its stake in Ecolab by 16.9% in the first quarter. Stratos Wealth Partners LTD. now owns 2,153 shares of the company’s stock valued at $240,000 after buying an additional 311 shares during the last quarter. Private Bank & Trust Co. increased its stake in Ecolab by 10.6% in the second quarter. Private Bank & Trust Co. now owns 2,094 shares of the company’s stock valued at $248,000 after buying an additional 200 shares during the last quarter. Finally, SevenBridge Financial Group LLC acquired a new stake in Ecolab during the first quarter valued at about $250,000. 74.82% of the stock is owned by institutional investors and hedge funds.
Shares of Ecolab Inc. (NYSE:ECL) traded down 0.26% during midday trading on Tuesday, hitting $117.31. The stock had a trading volume of 1,131,075 shares. Ecolab Inc. has a 12 month low of $98.62 and a 12 month high of $124.60. The stock’s 50 day moving average price is $121.67 and its 200 day moving average price is $117.16. The firm has a market cap of $34.21 billion, a price-to-earnings ratio of 36.79 and a beta of 0.90.
Ecolab (NYSE:ECL) last released its earnings results on Tuesday, August 2nd. The company reported $1.08 EPS for the quarter, hitting analysts’ consensus estimates of $1.08. Ecolab had a return on equity of 19.24% and a net margin of 7.20%. The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the prior year, the firm posted $1.08 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. On average, equities analysts forecast that Ecolab Inc. will post $4.44 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Tuesday, September 20th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.19%. Ecolab’s dividend payout ratio is currently 43.89%.
Several analysts recently issued reports on ECL shares. Canaccord Genuity reissued a “buy” rating on shares of Ecolab in a research report on Wednesday, June 22nd. Stifel Nicolaus cut their price objective on shares of Ecolab from $129.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, June 1st. Citigroup Inc. raised shares of Ecolab from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $127.00 to $141.00 in a report on Wednesday, August 3rd. Deutsche Bank AG lifted their price objective on shares of Ecolab from $118.00 to $126.00 and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Ecolab in a report on Wednesday, July 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $126.74.
In other news, EVP Michael A. Hickey sold 17,761 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $123.90, for a total value of $2,200,587.90. Following the sale, the executive vice president now directly owns 61,342 shares of the company’s stock, valued at $7,600,273.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christophe Beck sold 5,789 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $122.70, for a total value of $710,310.30. Following the completion of the sale, the executive vice president now directly owns 32,475 shares in the company, valued at $3,984,682.50. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
Ecolab Company Profile
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s segments include Global Industrial, Global Institutional, Global Energy, Other and Corporate. The Global Industrial segment consists of the Water, Food and Beverage, Paper and Textile Care operating units. The Global Institutional segment consists of the Institutional, Specialty and Healthcare operating units.
Want to see what other hedge funds are holding ECL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ecolab Inc. (NYSE:ECL).
Receive News & Ratings for Ecolab Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecolab Inc. and related companies with MarketBeat.com's FREE daily email newsletter.