Ecolab Inc. (NYSE:ECL) Position Increased by Jennison Associates LLC

Jennison Associates LLC boosted its stake in Ecolab Inc. (NYSE:ECL) by 17.5% during the 1st quarter, HoldingsChannel reports. The fund owned 2,125 shares of the basic materials company’s stock after buying an additional 316 shares during the period. Jennison Associates LLC’s holdings in Ecolab were worth $375,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. King Luther Capital Management Corp increased its stake in Ecolab by 14.6% during the first quarter. King Luther Capital Management Corp now owns 992,563 shares of the basic materials company’s stock valued at $175,227,000 after purchasing an additional 126,542 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in Ecolab by 69.0% during the first quarter. Rockefeller Capital Management L.P. now owns 29,651 shares of the basic materials company’s stock valued at $5,234,000 after purchasing an additional 12,108 shares during the last quarter. MML Investors Services LLC increased its stake in Ecolab by 8.4% during the first quarter. MML Investors Services LLC now owns 12,754 shares of the basic materials company’s stock valued at $2,252,000 after purchasing an additional 983 shares during the last quarter. Azimuth Capital Management LLC increased its stake in Ecolab by 29.0% during the first quarter. Azimuth Capital Management LLC now owns 4,837 shares of the basic materials company’s stock valued at $854,000 after purchasing an additional 1,088 shares during the last quarter. Finally, Federated Investors Inc. PA increased its stake in Ecolab by 1.7% during the first quarter. Federated Investors Inc. PA now owns 60,535 shares of the basic materials company’s stock valued at $10,688,000 after purchasing an additional 1,011 shares during the last quarter. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have weighed in on the stock. Canaccord Genuity boosted their target price on shares of Ecolab from $186.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Zacks Investment Research lowered shares of Ecolab from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Argus boosted their target price on shares of Ecolab from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Nomura lowered their target price on shares of Ecolab from $210.00 to $208.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, UBS Group upped their price target on shares of Ecolab from $186.00 to $191.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $180.93.

In related news, insider Thomas W. Handley sold 72,526 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $174.18, for a total value of $12,632,578.68. Following the completion of the sale, the insider now owns 184,794 shares of the company’s stock, valued at $32,187,418.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leslie S. Biller sold 9,975 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $195.01, for a total transaction of $1,945,224.75. Following the completion of the sale, the director now directly owns 49,164 shares of the company’s stock, valued at approximately $9,587,471.64. The disclosure for this sale can be found here. Insiders have sold 149,145 shares of company stock valued at $26,628,601 in the last 90 days. Insiders own 1.52% of the company’s stock.

Ecolab stock opened at $198.76 on Friday. The stock has a market cap of $57.39 billion, a PE ratio of 37.86, a PEG ratio of 2.71 and a beta of 0.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.14 and a quick ratio of 0.75. Ecolab Inc. has a one year low of $135.77 and a one year high of $200.93.

Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $1.03 EPS for the quarter, topping the consensus estimate of $1.02 by $0.01. The business had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.57 billion. Ecolab had a net margin of 10.06% and a return on equity of 19.50%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Equities research analysts predict that Ecolab Inc. will post 5.9 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th will be given a dividend of $0.46 per share. The ex-dividend date is Monday, June 17th. This represents a $1.84 annualized dividend and a dividend yield of 0.93%. Ecolab’s dividend payout ratio is currently 35.05%.

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Ecolab Profile

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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