State of Alaska Department of Revenue Sells 3,510 Shares of Ecolab Inc. (NYSE:ECL)

State of Alaska Department of Revenue lessened its stake in shares of Ecolab Inc. (NYSE:ECLGet Rating) by 8.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,870 shares of the basic materials company’s stock after selling 3,510 shares during the period. State of Alaska Department of Revenue’s holdings in Ecolab were worth $5,822,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital International Investors bought a new stake in shares of Ecolab in the 1st quarter worth $304,475,000. Norges Bank bought a new stake in shares of Ecolab in the 4th quarter worth $337,443,000. BlackRock Inc. increased its holdings in shares of Ecolab by 7.6% in the 1st quarter. BlackRock Inc. now owns 20,319,742 shares of the basic materials company’s stock worth $3,587,655,000 after purchasing an additional 1,434,495 shares in the last quarter. Sustainable Growth Advisers LP bought a new stake in shares of Ecolab in the 1st quarter worth $223,516,000. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Ecolab in the 1st quarter worth $153,507,000. Institutional investors own 87.71% of the company’s stock.

Ecolab Trading Down 2.1 %

Shares of NYSE ECL opened at $156.52 on Wednesday. The business’s 50 day moving average is $165.28 and its two-hundred day moving average is $165.84. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.29 and a quick ratio of 0.84. Ecolab Inc. has a 1-year low of $143.82 and a 1-year high of $238.93. The stock has a market capitalization of $44.61 billion, a P/E ratio of 40.76, a PEG ratio of 2.61 and a beta of 1.01.

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

Ecolab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Tuesday, September 20th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 19th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.30%. Ecolab’s payout ratio is 53.13%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. BMO Capital Markets assumed coverage on Ecolab in a report on Friday, June 3rd. They issued a “hold” rating and a $191.00 price objective for the company. Morgan Stanley cut their price objective on Ecolab from $200.00 to $181.00 and set an “equal weight” rating for the company in a report on Monday, June 27th. Northcoast Research raised Ecolab from a “neutral” rating to a “buy” rating and set a $188.00 price objective for the company in a report on Tuesday, September 6th. Royal Bank of Canada cut their price objective on Ecolab from $225.00 to $190.00 in a report on Thursday, July 14th. Finally, Credit Suisse Group raised Ecolab from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $180.00 to $195.00 in a report on Friday, June 3rd. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $193.78.

Insider Activity at Ecolab

In related news, EVP Angela M. Busch sold 2,300 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $170.66, for a total value of $392,518.00. Following the completion of the sale, the executive vice president now owns 16,716 shares in the company, valued at $2,852,752.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder William H. Gates III purchased 149,190 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was purchased at an average price of $171.47 per share, for a total transaction of $25,581,609.30. Following the completion of the acquisition, the insider now owns 30,834,744 shares of the company’s stock, valued at $5,287,233,553.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Angela M. Busch sold 2,300 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $170.66, for a total value of $392,518.00. Following the sale, the executive vice president now owns 16,716 shares of the company’s stock, valued at approximately $2,852,752.56. The disclosure for this sale can be found here. Over the last quarter, insiders bought 274,284 shares of company stock worth $47,244,385. Company insiders own 1.04% of the company’s stock.

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.

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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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