Ecolab Inc. (NYSE:ECL) is LaFleur & Godfrey LLC’s 3rd Largest Position

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LaFleur & Godfrey LLC cut its holdings in Ecolab Inc. (NYSE:ECL) by 2.6% in the second quarter, HoldingsChannel reports. The firm owned 94,834 shares of the basic materials company’s stock after selling 2,500 shares during the quarter. Ecolab accounts for 4.7% of LaFleur & Godfrey LLC’s portfolio, making the stock its 3rd largest position. LaFleur & Godfrey LLC’s holdings in Ecolab were worth $18,724,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ECL. Vanguard Group Inc. boosted its stake in Ecolab by 1.9% during the second quarter. Vanguard Group Inc. now owns 22,709,178 shares of the basic materials company’s stock worth $4,483,701,000 after buying an additional 419,611 shares during the period. BlackRock Inc. boosted its stake in Ecolab by 3.4% during the second quarter. BlackRock Inc. now owns 17,657,493 shares of the basic materials company’s stock worth $3,486,296,000 after buying an additional 578,662 shares during the period. Morgan Stanley boosted its stake in Ecolab by 251.6% during the second quarter. Morgan Stanley now owns 7,383,606 shares of the basic materials company’s stock worth $1,457,819,000 after buying an additional 5,283,861 shares during the period. Edgewood Management LLC boosted its stake in Ecolab by 1.0% during the second quarter. Edgewood Management LLC now owns 6,535,415 shares of the basic materials company’s stock worth $1,290,352,000 after buying an additional 64,560 shares during the period. Finally, Northern Trust Corp boosted its stake in Ecolab by 0.7% during the first quarter. Northern Trust Corp now owns 3,199,716 shares of the basic materials company’s stock worth $564,878,000 after buying an additional 22,023 shares during the period. 75.95% of the stock is owned by hedge funds and other institutional investors.

Shares of ECL opened at $196.06 on Friday. The firm has a market capitalization of $56.42 billion, a P/E ratio of 37.34, a P/E/G ratio of 2.66 and a beta of 0.82. Ecolab Inc. has a 12-month low of $135.77 and a 12-month high of $209.87. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average price of $202.71 and a 200-day moving average price of $190.32.

Ecolab (NYSE:ECL) last issued its earnings results on Tuesday, July 30th. The basic materials company reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.01. The firm had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.79 billion. Ecolab had a net margin of 10.12% and a return on equity of 19.81%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.27 earnings per share. Analysts predict that Ecolab Inc. will post 5.91 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be issued a $0.46 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.84 annualized dividend and a dividend yield of 0.94%. Ecolab’s payout ratio is currently 35.05%.

Several research analysts have commented on ECL shares. Canaccord Genuity lifted their price objective on shares of Ecolab from $198.00 to $222.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Citigroup lifted their price objective on shares of Ecolab from $190.00 to $206.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Morgan Stanley lifted their price objective on shares of Ecolab from $140.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. UBS Group set a $202.00 price objective on shares of Ecolab and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Credit Suisse Group set a $181.00 target price on shares of Ecolab and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $192.00.

In related news, EVP Alex N. Blanco sold 51,400 shares of Ecolab stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $203.07, for a total value of $10,437,798.00. Following the completion of the sale, the executive vice president now directly owns 59,425 shares in the company, valued at $12,067,434.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Darrell R. Brown sold 2,280 shares of Ecolab stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $207.95, for a total value of $474,126.00. Following the completion of the sale, the executive vice president now owns 8,061 shares of the company’s stock, valued at $1,676,284.95. The disclosure for this sale can be found here. Insiders sold 66,358 shares of company stock valued at $13,423,309 over the last 90 days. 1.52% of the stock is currently owned by corporate insiders.

About Ecolab

Ecolab Inc provides water, hygiene, and energy technologies and services worldwide. The company operates through Global Industrial, Global Institutional, Global Energy, and Other segments. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions primarily to industrial customers within the manufacturing, food and beverage processing, transportation, chemical, primary metals and mining, power generation, pulp and paper, pharmaceutical, and commercial laundry.

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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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