Ecolab Inc. (ECL) Shares Bought by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. lifted its stake in shares of Ecolab Inc. (NYSE:ECL) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,285,128 shares of the basic materials company’s stock after buying an additional 51,316 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.79% of Ecolab worth $303,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in ECL. FUKOKU MUTUAL LIFE INSURANCE Co grew its holdings in Ecolab by 60.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 800 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 300 shares during the period. TCI Wealth Advisors Inc. grew its holdings in Ecolab by 4.8% in the second quarter. TCI Wealth Advisors Inc. now owns 763 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 35 shares during the period. JNBA Financial Advisors grew its holdings in Ecolab by 2.5% in the first quarter. JNBA Financial Advisors now owns 871 shares of the basic materials company’s stock worth $109,000 after purchasing an additional 21 shares during the period. Harfst & Associates Inc. purchased a new stake in Ecolab in the first quarter worth about $117,000. Finally, Atwood & Palmer Inc. grew its holdings in Ecolab by 2.9% in the second quarter. Atwood & Palmer Inc. now owns 892 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 25 shares during the period. Institutional investors own 75.42% of the company’s stock.
A number of brokerages have weighed in on ECL. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $141.00 price objective (up previously from $133.00) on shares of Ecolab in a report on Friday, June 2nd. Credit Suisse Group restated a “hold” rating on shares of Ecolab in a report on Wednesday, September 6th. Stifel Nicolaus restated a “hold” rating and issued a $130.00 price objective on shares of Ecolab in a report on Thursday, August 3rd. Zacks Investment Research cut shares of Ecolab from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Canaccord Genuity upped their price objective on shares of Ecolab from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 28th. One equities research 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’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $133.93.
In other Ecolab news, insider Thomas W. Handley sold 7,397 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $130.63, for a total transaction of $966,270.11. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder William H. Gates III bought 75,500 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of $132.57 per share, for a total transaction of $10,009,035.00. The disclosure for this purchase can be found here. 1.49% of the stock is currently owned by insiders.
Ecolab Inc. (NYSE ECL) opened at 130.75 on Thursday. Ecolab Inc. has a 12 month low of $110.65 and a 12 month high of $134.89. The company’s 50-day moving average is $131.25 and its 200-day moving average is $129.52. The company has a market cap of $37.84 billion, a P/E ratio of 29.89 and a beta of 0.99.
Ecolab (NYSE:ECL) last released its earnings results on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.01. The company had revenue of $3.46 billion for 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%. Ecolab’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 EPS. On average, equities research analysts expect that Ecolab Inc. will post $4.74 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 given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, September 18th. Ecolab’s dividend payout ratio is presently 33.79%.
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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