Ecolab Inc. (NYSE:ECL) Position Boosted by Prudential PLC

Prudential PLC lifted its stake in shares of Ecolab Inc. (NYSE:ECLGet Rating) by 89.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,856 shares of the basic materials company’s stock after purchasing an additional 5,592 shares during the period. Prudential PLC’s holdings in Ecolab were worth $2,093,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Canada Pension Plan Investment Board lifted its holdings in Ecolab by 0.4% in the first quarter. Canada Pension Plan Investment Board now owns 426,465 shares of the basic materials company’s stock worth $75,297,000 after acquiring an additional 1,523 shares during the last quarter. Magellan Asset Management Ltd lifted its holdings in Ecolab by 27.7% in the first quarter. Magellan Asset Management Ltd now owns 1,452 shares of the basic materials company’s stock worth $256,000 after acquiring an additional 315 shares during the last quarter. Boston Financial Mangement LLC lifted its holdings in Ecolab by 0.9% in the first quarter. Boston Financial Mangement LLC now owns 13,833 shares of the basic materials company’s stock worth $2,442,000 after acquiring an additional 117 shares during the last quarter. Aviva PLC lifted its holdings in Ecolab by 32.0% in the first quarter. Aviva PLC now owns 110,998 shares of the basic materials company’s stock worth $19,598,000 after acquiring an additional 26,889 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Ecolab by 3.0% in the first quarter. Sei Investments Co. now owns 266,382 shares of the basic materials company’s stock worth $47,021,000 after acquiring an additional 7,739 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

Insiders Place Their Bets

In other Ecolab news, major shareholder William H. Gates III purchased 21,412 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were purchased at an average price of $169.78 per share, for a total transaction of $3,635,329.36. Following the completion of the transaction, the insider now owns 31,185,554 shares in the company, valued at approximately $5,294,683,358.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Arthur J. Higgins sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $166.74, for a total value of $533,568.00. Following the completion of the transaction, the director now owns 22,530 shares of the company’s stock, valued at approximately $3,756,652.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder William H. Gates III acquired 21,412 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was purchased at an average cost of $169.78 per share, with a total value of $3,635,329.36. Following the purchase, the insider now directly owns 31,185,554 shares in the company, valued at approximately $5,294,683,358.12. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 274,284 shares of company stock worth $47,244,385. 1.04% of the stock is owned by insiders.

Ecolab Price Performance

NYSE ECL opened at $170.92 on Friday. Ecolab Inc. has a 12 month low of $143.82 and a 12 month high of $238.93. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.29 and a quick ratio of 0.84. The firm has a market capitalization of $48.71 billion, a PE ratio of 44.51, a P/E/G ratio of 2.69 and a beta of 1.01. The company’s 50 day simple moving average is $164.15 and its 200 day simple moving average is $166.37.

Ecolab (NYSE:ECLGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The basic materials company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.03. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.48 billion. Ecolab had a net margin of 8.17% and a return on equity of 18.56%. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 earnings per share. As a group, equities research analysts forecast that Ecolab Inc. will post 4.78 EPS for the current fiscal year.

Ecolab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Tuesday, September 20th will be given a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 19th. This represents a $2.04 annualized dividend and a yield of 1.19%. Ecolab’s dividend payout ratio (DPR) is 53.13%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ECL. UBS Group cut their target price on shares of Ecolab to $198.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Wells Fargo & Company began coverage on shares of Ecolab in a research note on Tuesday, July 12th. They issued an “overweight” rating and a $187.00 price target on the stock. Royal Bank of Canada dropped their price target on shares of Ecolab from $225.00 to $190.00 in a research note on Thursday, July 14th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Ecolab from $195.00 to $180.00 in a research note on Wednesday, July 27th. Finally, Morgan Stanley dropped their price target on shares of Ecolab from $200.00 to $181.00 and set an “equal weight” rating on the stock in a research note on Monday, June 27th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $193.78.

Ecolab Profile

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Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through Global Industrial, Global Institutional & Specialty, and Global Healthcare & Life Sciences segments. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries.

See Also

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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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