Victory Capital Management Inc. Acquires 266 Shares of Ecolab Inc. (ECL)
Victory Capital Management Inc. boosted its position in shares of Ecolab Inc. (NYSE:ECL) by 2.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 10,616 shares of the company’s stock after buying an additional 266 shares during the period. Victory Capital Management Inc.’s holdings in Ecolab were worth $1,259,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Bartlett & Co. LLC boosted its position in Ecolab by 2.0% in the second quarter. Bartlett & Co. LLC now owns 1,568 shares of the company’s stock worth $186,000 after buying an additional 30 shares during the last quarter. Washington Trust Bank boosted its position in Ecolab by 29.2% in the second quarter. Washington Trust Bank now owns 1,592 shares of the company’s stock worth $189,000 after buying an additional 360 shares during the last quarter. Nichols & Pratt Advisers LLP MA purchased a new position in Ecolab during the second quarter worth about $205,000. Agran Libbie purchased a new position in Ecolab during the second quarter worth about $214,000. Finally, Savant Capital LLC purchased a new position in Ecolab during the second quarter worth about $215,000. Hedge funds and other institutional investors own 74.79% of the company’s stock.
Shares of Ecolab Inc. (NYSE:ECL) traded up 0.43% on Wednesday, reaching $117.81. 308,714 shares of the company were exchanged. The stock has a market capitalization of $34.35 billion, a price-to-earnings ratio of 36.94 and a beta of 0.90. The firm’s 50 day moving average price is $121.67 and its 200 day moving average price is $117.16. Ecolab Inc. has a 52 week low of $98.62 and a 52 week high of $124.60.
Ecolab (NYSE:ECL) last posted its earnings results on Tuesday, August 2nd. The company reported $1.08 EPS for the quarter, meeting analysts’ consensus estimates of $1.08. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.33 billion. Ecolab had a net margin of 7.20% and a return on equity of 19.24%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 EPS. Equities research analysts anticipate that Ecolab Inc. will post $4.44 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Tuesday, September 20th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, September 16th. Ecolab’s dividend payout ratio (DPR) is 43.89%.
A number of research firms have issued reports on ECL. Stifel Nicolaus cut shares of Ecolab from a “buy” rating to a “hold” rating in a research report on Tuesday, August 2nd. Nomura reduced their price target on shares of Ecolab from $96.00 to $94.00 and set a “reduce” rating on the stock in a research report on Wednesday, June 29th. Credit Suisse Group AG reiterated a “hold” rating and set a $120.00 price target on shares of Ecolab in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of Ecolab from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Finally, Barclays PLC boosted their price target on shares of Ecolab from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $126.74.
In other Ecolab news, EVP Christophe Beck sold 5,789 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $122.70, for a total transaction of $710,310.30. Following the transaction, the executive vice president now owns 32,475 shares of the company’s stock, valued at approximately $3,984,682.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael A. Hickey sold 17,761 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $123.90, for a total transaction of $2,200,587.90. Following the transaction, the executive vice president now directly owns 61,342 shares in the company, valued at approximately $7,600,273.80. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
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.
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