Great Lakes Advisors LLC increased its position in shares of Ecolab Inc. (NYSE:ECL) by 47.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,022 shares of the basic materials company’s stock after acquiring an additional 2,568 shares during the period. Great Lakes Advisors LLC’s holdings in Ecolab were worth $1,258,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in ECL. HM Payson & Co. raised its holdings in Ecolab by 27.1% during the third quarter. HM Payson & Co. now owns 3,819 shares of the basic materials company’s stock valued at $598,000 after buying an additional 814 shares in the last quarter. Carnegie Capital Asset Management LLC raised its holdings in Ecolab by 23.4% during the third quarter. Carnegie Capital Asset Management LLC now owns 41,974 shares of the basic materials company’s stock valued at $6,712,000 after buying an additional 7,953 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in Ecolab by 24.9% during the third quarter. Belpointe Asset Management LLC now owns 3,396 shares of the basic materials company’s stock valued at $532,000 after buying an additional 676 shares in the last quarter. Legal & General Group Plc raised its holdings in Ecolab by 4.9% during the third quarter. Legal & General Group Plc now owns 1,407,375 shares of the basic materials company’s stock valued at $220,657,000 after buying an additional 65,417 shares in the last quarter. Finally, Standard Life Aberdeen plc raised its holdings in Ecolab by 4.9% during the third quarter. Standard Life Aberdeen plc now owns 189,799 shares of the basic materials company’s stock valued at $29,757,000 after buying an additional 8,884 shares in the last quarter. Institutional investors and hedge funds own 75.91% of the company’s stock.
ECL has been the topic of several recent research reports. Bank of America initiated coverage on Ecolab in a report on Tuesday, October 23rd. They set a “buy” rating and a $123.00 target price on the stock. Zacks Investment Research upgraded Ecolab from a “hold” rating to a “buy” rating and set a $176.00 target price on the stock in a report on Wednesday, October 10th. UBS Group raised their target price on Ecolab from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, October 2nd. ValuEngine upgraded Ecolab from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Finally, Deutsche Bank raised their target price on Ecolab from $150.00 to $162.00 and gave the company a “hold” rating in a report on Monday, November 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $154.47.
In other news, EVP Larry L. Berger sold 9,317 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $153.65, for a total value of $1,431,557.05. Following the sale, the executive vice president now directly owns 31,093 shares of the company’s stock, valued at $4,777,439.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Douglas M. Baker, Jr. sold 40,025 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $160.20, for a total value of $6,412,005.00. Following the completion of the sale, the chairman now directly owns 558,017 shares in the company, valued at $89,394,323.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,621 shares of company stock worth $13,352,961. 1.50% of the stock is currently owned by company insiders.
Shares of NYSE:ECL opened at $157.55 on Friday. The stock has a market capitalization of $45.28 billion, a PE ratio of 33.59, a price-to-earnings-growth ratio of 2.33 and a beta of 0.88. Ecolab Inc. has a 52-week low of $125.74 and a 52-week high of $162.91. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.90 and a current ratio of 1.34.
Ecolab (NYSE:ECL) last issued its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $1.53 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.53. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.74 billion. Ecolab had a return on equity of 19.13% and a net margin of 10.99%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $1.37 earnings per share. On average, sell-side analysts predict that Ecolab Inc. will post 5.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Tuesday, December 18th will be given a $0.46 dividend. This is an increase from Ecolab’s previous quarterly dividend of $0.41. This represents a $1.84 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Monday, December 17th. Ecolab’s dividend payout ratio (DPR) is currently 34.97%.
TRADEMARK VIOLATION WARNING: This report was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this report on another site, it was stolen and reposted in violation of US and international trademark & copyright law. The legal version of this report can be accessed at https://www.dispatchtribunal.com/2018/12/07/great-lakes-advisors-llc-purchases-2568-shares-of-ecolab-inc-ecl.html.
Ecolab Inc provides water, hygiene, and energy technologies and services for customers worldwide. The company operates through Global Industrial, Global Institutional, and Global Energy segments. The Global Industrial segment provides water treatment and process applications, and cleaning and sanitizing solutions primarily to large industrial customers within the manufacturing, food and beverage processing, chemical, mining and primary metals, power generation, pulp and paper, and commercial laundry industries.
Further Reading: Stock Selection – What is cash flow?
Want to see what other hedge funds are holding ECL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ecolab Inc. (NYSE:ECL).
Receive News & Ratings for Ecolab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecolab and related companies with MarketBeat.com's FREE daily email newsletter.