Ecolab Inc. (ECL) Position Boosted by Nordea Investment Management AB
Nordea Investment Management AB raised its stake in Ecolab Inc. (NYSE:ECL) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,520 shares of the company’s stock after buying an additional 660 shares during the period. Nordea Investment Management AB’s holdings in Ecolab were worth $4,450,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of ECL. UBS Asset Management Americas Inc. increased its stake in shares of Ecolab by 14.8% in the first quarter. UBS Asset Management Americas Inc. now owns 3,099,051 shares of the company’s stock valued at $345,606,000 after buying an additional 399,797 shares during the last quarter. Swedbank increased its stake in shares of Ecolab by 31.8% in the second quarter. Swedbank now owns 1,279,249 shares of the company’s stock valued at $151,719,000 after buying an additional 308,469 shares during the last quarter. PGGM Investments increased its stake in shares of Ecolab by 76.9% in the second quarter. PGGM Investments now owns 569,175 shares of the company’s stock valued at $67,504,000 after buying an additional 247,406 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Ecolab by 33.1% in the second quarter. American Century Companies Inc. now owns 949,172 shares of the company’s stock valued at $112,572,000 after buying an additional 235,952 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Ecolab during the second quarter valued at $19,574,000. Hedge funds and other institutional investors own 74.79% of the company’s stock.
Ecolab Inc. (NYSE:ECL) traded up 0.28% during midday trading on Tuesday, reaching $116.66. The company had a trading volume of 407,681 shares. Ecolab Inc. has a 1-year low of $98.62 and a 1-year high of $124.60. The firm’s 50 day moving average is $119.85 and its 200 day moving average is $118.64. The stock has a market capitalization of $34.02 billion, a PE ratio of 36.58 and a beta of 0.87.
Ecolab (NYSE:ECL) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.08. Ecolab had a net margin of 7.20% and a return on equity of 19.24%. The company earned $3.32 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. Ecolab’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities analysts anticipate that Ecolab Inc. will post $4.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Tuesday, September 20th were paid a dividend of $0.35 per share. The ex-dividend date was Friday, September 16th. This represents a $1.40 annualized dividend and a dividend yield of 1.20%. Ecolab’s dividend payout ratio (DPR) is 43.89%.
ECL has been the topic of several recent analyst reports. Jefferies Group reiterated a “hold” rating on shares of Ecolab in a report on Wednesday, July 6th. Nomura reduced their price objective on Ecolab from $96.00 to $94.00 and set a “reduce” rating on the stock in a report on Wednesday, June 29th. Barclays PLC restated an “overweight” rating and set a $120.00 price objective on shares of Ecolab in a report on Friday, July 1st. Macquarie assumed coverage on Ecolab in a report on Thursday, August 25th. They set an “outperform” rating and a $143.00 price objective on the stock. Finally, Zacks Investment Research upgraded Ecolab from a “hold” rating to a “buy” rating and set a $136.00 price objective on the stock in a report on Tuesday, October 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. Ecolab currently has an average rating of “Buy” and an average price target of $127.68.
In other news, Chairman Douglas M. Baker, Jr. sold 25,800 shares of the stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $122.41, for a total transaction of $3,158,178.00. Following the completion of the sale, the chairman now owns 456,349 shares in the company, valued at $55,861,681.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christophe Beck sold 5,789 shares of the stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $122.70, for a total transaction of $710,310.30. Following the sale, the executive vice president now owns 32,475 shares of the company’s stock, valued at approximately $3,984,682.50. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
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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