Wedmont Private Capital bought a new position in shares of Ecolab Inc. (NYSE:ECL – Get Rating) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,443 shares of the basic materials company’s stock, valued at approximately $222,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Ecolab by 0.8% during the first quarter. Vanguard Group Inc. now owns 21,770,006 shares of the basic materials company’s stock worth $3,843,713,000 after purchasing an additional 166,209 shares in the last quarter. BlackRock Inc. boosted its stake in Ecolab by 7.6% in the first quarter. BlackRock Inc. now owns 20,319,742 shares of the basic materials company’s stock valued at $3,587,655,000 after acquiring an additional 1,434,495 shares in the last quarter. State Street Corp boosted its stake in Ecolab by 1.7% in the fourth quarter. State Street Corp now owns 11,479,305 shares of the basic materials company’s stock valued at $2,698,604,000 after acquiring an additional 191,446 shares in the last quarter. Wellington Management Group LLP boosted its stake in Ecolab by 6.1% in the first quarter. Wellington Management Group LLP now owns 9,256,119 shares of the basic materials company’s stock valued at $1,634,261,000 after acquiring an additional 532,170 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its stake in Ecolab by 1.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,444,028 shares of the basic materials company’s stock valued at $807,934,000 after acquiring an additional 47,403 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. Northcoast Research upgraded shares of Ecolab from a “neutral” rating to a “buy” rating and set a $188.00 price objective for the company in a research note on Tuesday, September 6th. Royal Bank of Canada decreased their price objective on shares of Ecolab from $225.00 to $190.00 in a research note on Thursday, July 14th. UBS Group reduced their target price on shares of Ecolab to $198.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Ecolab from $195.00 to $180.00 in a report on Wednesday, July 27th. Finally, Argus reduced their target price on shares of Ecolab from $230.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, May 31st. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $193.78.
Insiders Place Their Bets
Ecolab Trading Down 2.1 %
NYSE ECL opened at $156.52 on Wednesday. The stock has a market capitalization of $44.61 billion, a P/E ratio of 40.76, a P/E/G ratio of 2.61 and a beta of 1.01. Ecolab Inc. has a 52-week low of $143.82 and a 52-week high of $238.93. The firm has a 50-day moving average price of $165.28 and a 200 day moving average price of $165.84. The company has a quick ratio of 0.84, a current ratio of 1.29 and a debt-to-equity ratio of 1.15.
Ecolab (NYSE:ECL – Get 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 during the quarter, compared to analysts’ expectations of $3.48 billion. Ecolab had a net margin of 8.17% and a return on equity of 18.56%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.22 earnings per share. Equities research analysts expect that Ecolab Inc. will post 4.78 EPS for the current year.
Ecolab Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Tuesday, September 20th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 19th. This represents a $2.04 annualized dividend and a yield of 1.30%. Ecolab’s payout ratio is currently 53.13%.
Ecolab Company Profile
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.
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