Integrated Investment Consultants LLC Lowers Stake in Ecolab Inc. (ECL)
Integrated Investment Consultants LLC lowered its stake in Ecolab Inc. (NYSE:ECL) by 3.3% during the second quarter, Holdings Channel reports. The fund owned 3,921 shares of the basic materials company’s stock after selling 134 shares during the period. Integrated Investment Consultants LLC’s holdings in Ecolab were worth $521,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of ECL. Macquarie Group Ltd. increased its stake in Ecolab by 8.1% in the fourth quarter. Macquarie Group Ltd. now owns 24,970 shares of the basic materials company’s stock valued at $2,927,000 after buying an additional 1,880 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in Ecolab by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 80,693 shares of the basic materials company’s stock valued at $10,114,000 after buying an additional 1,000 shares during the last quarter. National Pension Service increased its stake in Ecolab by 6.1% in the first quarter. National Pension Service now owns 205,888 shares of the basic materials company’s stock valued at $25,806,000 after buying an additional 11,827 shares during the last quarter. Bank of Montreal Can increased its stake in Ecolab by 11.4% in the first quarter. Bank of Montreal Can now owns 186,447 shares of the basic materials company’s stock valued at $23,370,000 after buying an additional 19,051 shares during the last quarter. Finally, First National Bank of Omaha increased its stake in Ecolab by 20.5% in the first quarter. First National Bank of Omaha now owns 14,493 shares of the basic materials company’s stock valued at $1,816,000 after buying an additional 2,468 shares during the last quarter. Institutional investors and hedge funds own 75.66% of the company’s stock.
Ecolab Inc. (NYSE ECL) traded up 0.11% during mid-day trading on Friday, hitting $130.37. 197,558 shares of the stock were exchanged. Ecolab Inc. has a one year low of $110.65 and a one year high of $134.89. The company has a market cap of $37.73 billion, a P/E ratio of 29.81 and a beta of 0.98. The company has a 50-day moving average price of $132.25 and a 200-day moving average price of $127.73.
Ecolab (NYSE:ECL) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.01. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.40 billion. Ecolab had a net margin of 9.66% and a return on equity of 18.93%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.08 EPS. Analysts forecast that Ecolab Inc. will post $4.80 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Tuesday, September 19th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, September 18th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.14%. Ecolab’s dividend payout ratio is presently 33.79%.
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ECL has been the subject of several research reports. Canaccord Genuity reiterated a “buy” rating and set a $135.00 price objective on shares of Ecolab in a research note on Monday, May 1st. J P Morgan Chase & Co upgraded shares of Ecolab from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $120.00 to $138.00 in a research note on Friday, May 26th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $141.00 target price (up from $133.00) on shares of Ecolab in a research report on Friday, June 2nd. Zacks Investment Research downgraded shares of Ecolab from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Deutsche Bank AG boosted their target price on shares of Ecolab from $132.00 to $134.00 and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Ecolab currently has an average rating of “Buy” and an average target price of $133.43.
In related news, major shareholder William H. Gates III purchased 75,500 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was acquired at an average price of $132.57 per share, for a total transaction of $10,009,035.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Christophe Beck sold 6,959 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $127.11, for a total transaction of $884,558.49. Following the completion of the transaction, the executive vice president now owns 42,419 shares of the company’s stock, valued at approximately $5,391,879.09. The disclosure for this sale can be found here. Insiders sold a total of 44,810 shares of company stock valued at $5,897,361 in the last quarter. 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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