Ecolab Inc. (NYSE:ECL) Stake Boosted by Mn Services Vermogensbeheer B.V.
Mn Services Vermogensbeheer B.V. raised its position in Ecolab Inc. (NYSE:ECL) by 509.0% during the second quarter, Holdings Channel reports. The institutional investor owned 42,620 shares of the basic materials company’s stock after buying an additional 35,622 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Ecolab were worth $5,658,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in shares of Ecolab during the first quarter worth $134,000. BNP Paribas Arbitrage SA raised its position in shares of Ecolab by 269.4% in the first quarter. BNP Paribas Arbitrage SA now owns 191,189 shares of the basic materials company’s stock worth $23,964,000 after buying an additional 139,434 shares in the last quarter. State Street Corp raised its position 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 worth $1,496,059,000 after buying an additional 31,277 shares in the last quarter. YHB Investment Advisors Inc. raised its position in shares of Ecolab by 0.6% in the first quarter. YHB Investment Advisors Inc. now owns 112,954 shares of the basic materials company’s stock worth $14,581,000 after buying an additional 649 shares in the last quarter. Finally, Bell Bank raised its position in shares of Ecolab by 6.7% in the first quarter. Bell Bank now owns 4,706 shares of the basic materials company’s stock worth $590,000 after buying an additional 297 shares in the last quarter. 75.66% of the stock is currently owned by institutional investors.
Shares of Ecolab Inc. (ECL) traded down 0.32% during mid-day trading on Friday, reaching $129.81. The company had a trading volume of 618,651 shares. The company’s 50-day moving average is $132.19 and its 200 day moving average is $127.80. The stock has a market capitalization of $37.56 billion, a P/E ratio of 29.68 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 issued its earnings results on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. Analysts anticipate that Ecolab Inc. will post $4.80 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Tuesday, September 19th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, September 18th. Ecolab’s dividend payout ratio (DPR) is currently 33.79%.
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A number of research analysts have weighed in on ECL shares. Zacks Investment Research lowered Ecolab from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $141.00 price target (up previously from $133.00) on shares of Ecolab in a research note on Friday, June 2nd. Deutsche Bank AG increased their price target on Ecolab from $132.00 to $134.00 and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. Credit Suisse Group set a $128.00 price target on Ecolab and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Finally, UBS AG reissued a “buy” rating and set a $147.00 price target (up previously from $144.00) on shares of Ecolab in a research note on Wednesday, August 2nd. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $133.43.
In related news, major shareholder William H. Gates III bought 75,500 shares of the firm’s stock in a transaction on 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christophe Beck sold 6,959 shares of Ecolab stock in a transaction on Friday, May 19th. The shares were sold at an average price of $127.11, for a total transaction of $884,558.49. Following the sale, the executive vice president now directly 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 have sold a total of 44,810 shares of company stock valued at $5,897,361 in the last three months. 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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