Ecolab Inc. (ECL) Position Increased by Shell Asset Management Co.
Shell Asset Management Co. raised its stake in shares of Ecolab Inc. (NYSE:ECL) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,992 shares of the basic materials company’s stock after buying an additional 358 shares during the period. Shell Asset Management Co.’s holdings in Ecolab were worth $6,504,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Ecolab by 5.4% in the first quarter. Vanguard Group Inc. now owns 20,454,223 shares of the basic materials company’s stock valued at $2,563,731,000 after buying an additional 1,044,370 shares in the last quarter. 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 in 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 in 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 in 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 in the last quarter. Institutional investors own 75.66% of the company’s stock.
Ecolab Inc. (NYSE:ECL) opened at 129.81 on Friday. The firm has a 50-day moving average of $132.19 and a 200-day moving average of $127.80. The company has a market cap of $37.56 billion, a PE ratio of 29.68 and a beta of 0.98. Ecolab Inc. has a one year low of $110.65 and a one year high of $134.89.
Ecolab (NYSE:ECL) last posted its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.01. Ecolab had a net margin of 9.66% and a return on equity of 18.93%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the firm posted $1.08 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. On average, analysts predict that Ecolab Inc. will post $4.80 EPS for the current 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 issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $1.48 annualized dividend and a dividend yield of 1.14%. Ecolab’s payout ratio is 33.79%.
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ECL has been the subject of several recent analyst reports. J P Morgan Chase & Co upgraded Ecolab from a “neutral” rating to an “overweight” rating and raised their target price for the company from $120.00 to $138.00 in a research note on Friday, May 26th. UBS AG restated a “buy” rating and set a $147.00 target price (up from $144.00) on shares of Ecolab in a research note on Wednesday, August 2nd. Stifel Nicolaus restated a “hold” rating and set a $130.00 target price on shares of Ecolab in a research note on Thursday, August 3rd. Canaccord Genuity restated a “buy” rating and set a $135.00 target price on shares of Ecolab in a research note on Monday, May 1st. Finally, Credit Suisse Group set a $128.00 target price on Ecolab and gave the company a “hold” rating in a research note on Thursday, August 3rd. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $133.43.
In other news, SVP Bruno Lavandier sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $133.52, for a total transaction of $133,520.00. Following the transaction, 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 legal filing with the SEC, which is accessible through the SEC website. Also, EVP Christophe Beck sold 6,959 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $127.11, for a total transaction of $884,558.49. Following the transaction, the executive vice president now owns 42,419 shares in the company, valued at approximately $5,391,879.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,810 shares of company stock worth $5,897,361. Insiders own 1.49% of the company’s stock.
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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