Ecolab Inc. (ECL) Shares Sold by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado cut its stake in Ecolab Inc. (NYSE:ECL) by 83.9% during the second quarter, Holdings Channel reports. The fund owned 56,515 shares of the company’s stock after selling 294,741 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Ecolab were worth $6,703,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bartlett & Co. LLC boosted its stake in Ecolab by 2.0% in the second quarter. Bartlett & Co. LLC now owns 1,568 shares of the company’s stock valued at $186,000 after buying an additional 30 shares in the last quarter. Washington Trust Bank boosted 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 in the last quarter. Agran Libbie bought a new stake in Ecolab during the second quarter valued at approximately $214,000. Savant Capital LLC bought a new stake in Ecolab during the second quarter valued at approximately $215,000. Finally, Eagle Ridge Investment Management bought a new stake in Ecolab during the second quarter valued at approximately $226,000. Institutional investors own 74.79% of the company’s stock.
Ecolab Inc. (NYSE:ECL) traded up 0.22% during midday trading on Tuesday, reaching $116.60. 634,136 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $119.64 and a 200 day moving average price of $118.67. Ecolab Inc. has a 12 month low of $98.62 and a 12 month high of $124.60. The company has a market cap of $34.00 billion, a P/E ratio of 36.56 and a beta of 0.87.
Ecolab (NYSE:ECL) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.08 EPS for the quarter, meeting the consensus estimate of $1.08. The company earned $3.32 billion during the quarter, compared to the consensus estimate of $3.33 billion. Ecolab had a return on equity of 19.24% and a net margin of 7.20%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 EPS. On average, equities analysts anticipate that Ecolab Inc. will post $4.44 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Tuesday, September 20th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Friday, September 16th. Ecolab’s payout ratio is presently 43.89%.
Several analysts recently commented on the stock. Stifel Nicolaus cut shares of Ecolab from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Nomura decreased their price target on shares of Ecolab from $96.00 to $94.00 and set a “reduce” rating for the company in a report on Wednesday, June 29th. Credit Suisse Group AG restated a “hold” rating and set a $120.00 price target on shares of Ecolab in a report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of Ecolab from a “sell” rating to a “hold” rating in a report on Thursday, August 4th. Finally, Barclays PLC raised their price target on shares of Ecolab from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, August 3rd. Two research 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 presently has a consensus rating of “Buy” and an average target price of $127.68.
In related news, Chairman Douglas M. Baker, Jr. sold 25,800 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $122.41, for a total value of $3,158,178.00. Following the sale, the chairman now owns 456,349 shares in the company, valued at approximately $55,861,681.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael A. Hickey sold 17,761 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $123.90, for a total value of $2,200,587.90. Following the completion of the sale, the executive vice president now owns 61,342 shares in the company, valued at approximately $7,600,273.80. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
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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