Jensen Investment Management Inc. Decreases Position in Ecolab Inc. (ECL)
Jensen Investment Management Inc. reduced its stake in shares of Ecolab Inc. (NYSE:ECL) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,609,395 shares of the basic materials company’s stock after selling 4,370 shares during the period. Ecolab makes up about 4.6% of Jensen Investment Management Inc.’s holdings, making the stock its 7th largest position. Jensen Investment Management Inc.’s holdings in Ecolab were worth $327,062,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in Ecolab by 60.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 800 shares of the basic materials company’s stock valued at $100,000 after buying an additional 300 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Ecolab during the first quarter valued at approximately $134,000. Perigon Wealth Management LLC raised its stake in Ecolab by 26.2% in the fourth quarter. Perigon Wealth Management LLC now owns 1,262 shares of the basic materials company’s stock valued at $158,000 after buying an additional 262 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Ecolab during the first quarter valued at approximately $162,000. Finally, Rational Advisors LLC raised its stake in Ecolab by 14.3% in the first quarter. Rational Advisors LLC now owns 1,554 shares of the basic materials company’s stock valued at $195,000 after buying an additional 194 shares during the last quarter. 76.12% of the stock is currently owned by institutional investors.
Shares of Ecolab Inc. (NYSE ECL) opened at 134.61 on Tuesday. The stock has a market capitalization of $39.04 billion, a price-to-earnings ratio of 31.80 and a beta of 1.01. The stock’s 50 day moving average is $129.99 and its 200 day moving average is $124.39. Ecolab Inc. has a 1-year low of $110.65 and a 1-year high of $134.89.
Ecolab (NYSE:ECL) last posted its quarterly earnings data on Tuesday, May 2nd. The basic materials company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.16 billion. Ecolab had a net margin of 9.47% and a return on equity of 18.96%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. On average, equities analysts forecast that Ecolab Inc. will post $4.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Tuesday, June 20th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, June 16th. Ecolab’s dividend payout ratio is presently 34.91%.
Several research firms have commented on ECL. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $141.00 price target (up from $133.00) on shares of Ecolab in a report on Friday, June 2nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $135.00 price target on shares of Ecolab in a report on Monday, May 1st. Edward Jones raised shares of Ecolab from a “hold” rating to a “buy” rating in a report on Wednesday, February 22nd. Zacks Investment Research raised shares of Ecolab from a “sell” rating to a “hold” rating in a report on Friday, February 24th. Finally, Instinet raised shares of Ecolab from a “reduce” rating to a “neutral” rating and upped their price target for the company from $99.00 to $118.00 in a report on Monday, April 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Ecolab presently has a consensus rating of “Hold” and a consensus price target of $129.79.
In other news, EVP Stephen M. Taylor sold 23,151 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $133.06, for a total value of $3,080,472.06. Following the completion of the transaction, the executive vice president now owns 44,466 shares of the company’s stock, valued at $5,916,645.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Bruno Lavandier sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $133.52, for a total transaction of $133,520.00. Following the completion of the transaction, the senior vice president now directly owns 8,922 shares of the company’s stock, valued at approximately $1,191,265.44. The disclosure for this sale can be found here. In the last three months, insiders sold 44,810 shares of company stock valued at $5,897,361. Company insiders own 1.49% of the company’s stock.
Ecolab Company Profile
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s cleaning and sanitizing programs and products, pest elimination services and equipment maintenance and repair services support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors in over 170 countries.
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