Jacobs Levy Equity Management Inc. increased its position in Ecolab Inc. (NYSE:ECL) by 449.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,991 shares of the basic materials company’s stock after purchasing an additional 191,377 shares during the period. Ecolab makes up approximately 0.6% of Jacobs Levy Equity Management Inc.’s holdings, making the stock its 23rd biggest position. Jacobs Levy Equity Management Inc.’s holdings in Ecolab were worth $46,199,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in ECL. Certified Advisory Corp purchased a new stake in shares of Ecolab during the 2nd quarter valued at about $25,000. Krane Funds Advisors LLC bought a new position in shares of Ecolab during the 2nd quarter valued at approximately $25,000. Next Capital Management LLC bought a new position in shares of Ecolab during the 2nd quarter valued at approximately $27,000. Putnam FL Investment Management Co. bought a new position in shares of Ecolab during the 2nd quarter valued at approximately $28,000. Finally, Permanens Capital L.P. bought a new position in shares of Ecolab during the 1st quarter valued at approximately $26,000. Institutional investors own 76.12% of the company’s stock.
ECL stock traded up $1.12 during midday trading on Friday, hitting $198.89. The company’s stock had a trading volume of 897,279 shares, compared to its average volume of 1,060,280. Ecolab Inc. has a 12 month low of $135.77 and a 12 month high of $209.87. The company has a quick ratio of 0.78, a current ratio of 1.18 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $57.23 billion, a price-to-earnings ratio of 37.88, a price-to-earnings-growth ratio of 2.68 and a beta of 0.82. The company has a 50 day moving average of $203.36 and a two-hundred day moving average of $189.36.
Ecolab (NYSE:ECL) last posted its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.01. Ecolab had a return on equity of 19.81% and a net margin of 10.12%. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the company posted $1.27 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts anticipate that Ecolab Inc. will post 5.91 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.84 annualized dividend and a yield of 0.93%. Ecolab’s payout ratio is 35.05%.
A number of brokerages recently issued reports on ECL. BMO Capital Markets boosted their price objective on Ecolab from $180.00 to $208.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Morgan Stanley boosted their price objective on Ecolab from $140.00 to $205.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Nomura boosted their price objective on Ecolab from $208.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. UBS Group set a $202.00 price objective on Ecolab and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Citigroup boosted their price objective on Ecolab from $190.00 to $206.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $192.00.
In other news, EVP Darrell R. Brown sold 12,678 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $198.09, for a total transaction of $2,511,385.02. Following the completion of the transaction, the executive vice president now directly owns 21,061 shares in the company, valued at approximately $4,171,973.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Darrell R. Brown sold 2,280 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $207.95, for a total value of $474,126.00. Following the transaction, 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 a total of 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.
Ecolab Company 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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