Ecolab Inc. (ECL) Position Raised by TCI Wealth Advisors Inc.
TCI Wealth Advisors Inc. boosted its holdings in shares of Ecolab Inc. (NYSE:ECL) by 4.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 763 shares of the basic materials company’s stock after purchasing an additional 35 shares during the period. TCI Wealth Advisors Inc.’s holdings in Ecolab were worth $101,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. King Luther Capital Management Corp increased its holdings in Ecolab by 0.5% during the 2nd quarter. King Luther Capital Management Corp now owns 817,279 shares of the basic materials company’s stock valued at $108,494,000 after purchasing an additional 3,725 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in Ecolab by 2.9% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 86,791 shares of the basic materials company’s stock valued at $11,522,000 after purchasing an additional 2,432 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Ecolab during the 2nd quarter valued at $295,000. Norinchukin Bank The increased its holdings in Ecolab by 0.9% during the 2nd quarter. Norinchukin Bank The now owns 124,469 shares of the basic materials company’s stock valued at $16,523,000 after purchasing an additional 1,055 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in Ecolab by 3.5% during the 2nd quarter. Teachers Advisors LLC now owns 447,826 shares of the basic materials company’s stock valued at $59,449,000 after purchasing an additional 15,279 shares in the last quarter. 75.42% of the stock is owned by hedge funds and other institutional investors.
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ECL has been the subject of a number of recent analyst reports. J P Morgan Chase & Co raised Ecolab from a “neutral” rating to an “overweight” rating and raised their price target for the company from $120.00 to $138.00 in a report on Friday, May 26th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $141.00 price target (up from $133.00) on shares of Ecolab in a report on Friday, June 2nd. Zacks Investment Research cut Ecolab from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Canaccord Genuity raised their price target on Ecolab from $135.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Deutsche Bank AG raised their price target on Ecolab from $132.00 to $134.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $133.93.
Shares of Ecolab Inc. (NYSE ECL) opened at 131.05 on Monday. The firm has a market capitalization of $37.92 billion, a PE ratio of 29.96 and a beta of 0.99. The company’s 50 day moving average price is $131.31 and its 200-day moving average price is $129.38. Ecolab Inc. has a 52 week low of $110.65 and a 52 week high of $134.89.
Ecolab (NYSE:ECL) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.01. Ecolab had a return on equity of 18.93% and a net margin of 9.66%. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the prior year, the company earned $1.08 EPS. Ecolab’s revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts expect that Ecolab Inc. will post $4.74 EPS for the current fiscal year.
The company also recently declared 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, September 18th. Ecolab’s payout ratio is 33.79%.
In other news, insider Thomas W. Handley sold 7,397 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $130.63, for a total value of $966,270.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder William H. Gates III purchased 75,500 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was purchased 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. 1.49% of the stock is currently owned by corporate 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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