Cornerstone Advisors Inc. Maintains Position in Ecolab Inc. (NYSE:ECL)
Cornerstone Advisors Inc. held its stake in Ecolab Inc. (NYSE:ECL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,746 shares of the basic materials company’s stock at the end of the second quarter. Cornerstone Advisors Inc.’s holdings in Ecolab were worth $232,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of ECL. Vanguard Group Inc. increased its stake in Ecolab by 5.4% in the first quarter. Vanguard Group Inc. now owns 20,454,223 shares of the basic materials company’s stock worth $2,563,731,000 after buying an additional 1,044,370 shares during the period. BlackRock Inc. increased its stake in shares of Ecolab by 2,154.8% in the first quarter. BlackRock Inc. now owns 15,032,404 shares of the basic materials company’s stock valued at $1,884,161,000 after buying an additional 14,365,723 shares during the last quarter. State Street Corp increased its stake in shares of Ecolab by 0.3% in the first quarter. State Street Corp now owns 11,935,943 shares of the basic materials company’s stock valued at $1,496,059,000 after buying an additional 31,277 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Ecolab by 6.8% in the first quarter. Clearbridge Investments LLC now owns 5,012,431 shares of the basic materials company’s stock valued at $628,258,000 after buying an additional 320,253 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Ecolab by 19.3% in the first quarter. Alliancebernstein L.P. now owns 3,555,051 shares of the basic materials company’s stock valued at $445,590,000 after buying an additional 574,200 shares during the last quarter. 75.66% of the stock is owned by institutional investors and hedge funds.
Shares of Ecolab Inc. (ECL) traded down 1.06% during midday trading on Thursday, hitting $130.96. 342,896 shares of the stock traded hands. The firm has a 50-day moving average price of $132.30 and a 200-day moving average price of $127.71. The stock has a market capitalization of $37.90 billion, a P/E ratio of 29.94 and a beta of 0.98. Ecolab Inc. has a 52 week low of $110.65 and a 52 week high of $134.89.
Ecolab (NYSE:ECL) last released its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.01. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.40 billion. Ecolab had a net margin of 9.66% and a return on equity of 18.93%. Ecolab’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 EPS. On average, equities analysts predict that Ecolab Inc. will post $4.80 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Tuesday, September 19th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, September 18th. This represents a $1.48 annualized dividend and a dividend yield of 1.12%. Ecolab’s dividend payout ratio is currently 33.79%.
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ECL has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Ecolab from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $141.00 target price (up previously from $133.00) on shares of Ecolab in a research note on Friday, June 2nd. Deutsche Bank AG upped their target price on shares of Ecolab from $132.00 to $134.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Credit Suisse Group set a $128.00 target price on shares of Ecolab and gave the company a “hold” rating in a research note on Thursday, August 3rd. Finally, UBS AG reaffirmed a “buy” rating and issued a $147.00 target price (up previously from $144.00) on shares of Ecolab in a research note on Wednesday, August 2nd. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Ecolab currently has a consensus rating of “Buy” and an average price target of $133.43.
In other news, SVP Bruno Lavandier sold 1,000 shares of Ecolab stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $133.52, for a total value of $133,520.00. Following the completion of the sale, the senior vice president now owns 8,922 shares in the company, valued at approximately $1,191,265.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder William H. Gates III acquired 75,500 shares of the stock in a transaction dated Thursday, August 3rd. The stock was bought at an average price of $132.57 per share, with a total value of $10,009,035.00. The disclosure for this purchase can be found here. Insiders sold a total of 44,810 shares of company stock valued at $5,897,361 in the last quarter. 1.49% of the stock is currently owned by company insiders.
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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