Bartlett & Co. LLC raised its stake in Ecolab Inc. (NYSE:ECL) by 2.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,568 shares of the company’s stock after buying an additional 30 shares during the period. Bartlett & Co. LLC’s holdings in Ecolab were worth $186,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Washington Trust Bank boosted its stake in shares of Ecolab by 29.2% in the second quarter. Washington Trust Bank now owns 1,592 shares of the company’s stock valued at $189,000 after buying an additional 360 shares during the period. Eagle Ridge Investment Management acquired a new stake in shares of Ecolab during the second quarter valued at approximately $226,000. Stratos Wealth Partners LTD. boosted its stake in shares of Ecolab by 16.9% in the first quarter. Stratos Wealth Partners LTD. now owns 2,153 shares of the company’s stock valued at $240,000 after buying an additional 311 shares during the period. Private Bank & Trust Co. boosted its stake in shares of Ecolab by 10.6% in the second quarter. Private Bank & Trust Co. now owns 2,094 shares of the company’s stock valued at $248,000 after buying an additional 200 shares during the period. Finally, SevenBridge Financial Group LLC acquired a new stake in shares of Ecolab during the first quarter valued at approximately $250,000. 74.80% of the stock is owned by institutional investors and hedge funds.
Ecolab Inc. (NYSE:ECL) traded up 0.82% during midday trading on Friday, reaching $121.72. The company had a trading volume of 956,759 shares. The firm has a market capitalization of $35.49 billion, a P/E ratio of 38.17 and a beta of 0.90. Ecolab Inc. has a one year low of $98.62 and a one year high of $124.60. The stock’s 50 day moving average price is $121.07 and its 200-day moving average price is $117.85.
Ecolab (NYSE:ECL) last announced its earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.08. The firm earned $3.32 billion during the quarter, compared to analyst estimates of $3.33 billion. Ecolab had a net margin of 7.20% and a return on equity of 19.24%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 EPS. On average, equities research analysts anticipate that Ecolab Inc. will post $4.44 earnings per share for the current year.
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 dividend of $0.35 per share. The ex-dividend date is Friday, September 16th. This represents a $1.40 annualized dividend and a yield of 1.15%. Ecolab’s dividend payout ratio (DPR) is presently 43.89%.
Several analysts recently issued reports on ECL shares. Stifel Nicolaus lowered Ecolab from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Nomura cut their price objective on Ecolab from $96.00 to $94.00 and set a “reduce” rating for the company in a report on Wednesday, June 29th. Credit Suisse Group AG reiterated a “hold” rating and set a $120.00 price objective on shares of Ecolab in a report on Wednesday, August 3rd. Zacks Investment Research upgraded Ecolab from a “sell” rating to a “hold” rating in a report on Thursday, August 4th. Finally, Barclays PLC increased their price objective on Ecolab from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $126.74.
In other Ecolab news, EVP Christophe Beck sold 5,789 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $122.70, for a total transaction of $710,310.30. Following the sale, the executive vice president now directly owns 32,475 shares of the company’s stock, valued at approximately $3,984,682.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Douglas M. Baker, Jr. sold 25,800 shares of the business’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $122.41, for a total transaction of $3,158,178.00. Following the sale, the chairman now directly owns 456,349 shares in the company, valued at $55,861,681.09. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s segments include Global Industrial, Global Institutional, Global Energy, Other and Corporate. The Global Industrial segment consists of the Water, Food and Beverage, Paper and Textile Care operating units. The Global Institutional segment consists of the Institutional, Specialty and Healthcare operating units.
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