Public Sector Pension investment Board Has $3.93 Million Position in Ecolab Inc. (ECL)
Public Sector Pension investment Board decreased its position in Ecolab Inc. (NYSE:ECL) by 50.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,606 shares of the basic materials company’s stock after selling 30,000 shares during the period. Public Sector Pension investment Board’s holdings in Ecolab were worth $3,930,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. D.A. Davidson & CO. boosted its stake in Ecolab by 0.7% in the 2nd quarter. D.A. Davidson & CO. now owns 28,148 shares of the basic materials company’s stock worth $3,736,000 after purchasing an additional 201 shares in the last quarter. GSA Capital Partners LLP bought a new position in Ecolab in the 2nd quarter worth about $356,000. UBS Asset Management Americas Inc. boosted its stake in Ecolab by 2.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,285,128 shares of the basic materials company’s stock worth $303,351,000 after purchasing an additional 51,316 shares in the last quarter. Quantitative Investment Management LLC boosted its stake in Ecolab by 60.1% in the 2nd quarter. Quantitative Investment Management LLC now owns 144,100 shares of the basic materials company’s stock worth $19,129,000 after purchasing an additional 54,100 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in Ecolab by 0.6% in the 2nd quarter. Mutual of America Capital Management LLC now owns 31,834 shares of the basic materials company’s stock worth $4,226,000 after purchasing an additional 203 shares in the last quarter. Institutional investors own 75.42% of the company’s stock.
In related news, insider Thomas W. Handley sold 7,397 shares of Ecolab stock in a transaction dated Thursday, September 14th. The stock was 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 Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder William H. Gates III bought 75,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were purchased at an average cost of $132.57 per share, with a total value of $10,009,035.00. The disclosure for this purchase can be found here. Insiders own 1.49% of the company’s stock.
A number of equities analysts recently issued reports on ECL shares. Credit Suisse Group reiterated a “hold” rating on shares of Ecolab in a research note on Wednesday, September 6th. Zacks Investment Research cut shares of Ecolab from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $141.00 price target (up previously from $133.00) on shares of Ecolab in a research note on Friday, June 2nd. Canaccord Genuity upped their price target on shares of Ecolab from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, Royal Bank Of Canada upped their price target on shares of Ecolab from $134.00 to $137.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given 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.
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Ecolab Inc. (ECL) opened at 131.33 on Friday. Ecolab Inc. has a 1-year low of $110.65 and a 1-year high of $134.89. The company has a market cap of $38.00 billion, a PE ratio of 30.03 and a beta of 0.99. The firm’s 50-day moving average is $131.25 and its 200 day moving average is $129.52.
Ecolab (NYSE:ECL) last released its earnings results on Tuesday, August 1st. The basic materials company reported $1.13 EPS for the quarter, topping 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 firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the company posted $1.08 earnings per share. The company’s revenue was up 4.4% compared to the same quarter last year. Analysts predict that Ecolab Inc. will post $4.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Tuesday, September 19th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Monday, September 18th. Ecolab’s dividend payout ratio (DPR) is 33.79%.
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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