Sei Investments Co. lifted its stake in Ecolab Inc. (NYSE:ECL) by 17.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,146 shares of the basic materials company’s stock after purchasing an additional 8,871 shares during the period. Sei Investments Co.’s holdings in Ecolab were worth $11,876,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of ECL. Wellington Management Group LLP grew its holdings in Ecolab by 14.6% during the 1st quarter. Wellington Management Group LLP now owns 6,292,404 shares of the basic materials company’s stock worth $980,545,000 after acquiring an additional 803,856 shares during the period. Nordea Investment Management AB grew its stake in Ecolab by 109.0% in the 2nd quarter. Nordea Investment Management AB now owns 1,174,474 shares of the basic materials company’s stock valued at $228,718,000 after buying an additional 612,483 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Ecolab by 1.9% during the 2nd quarter. BlackRock Inc. now owns 19,365,917 shares of the basic materials company’s stock worth $3,852,850,000 after acquiring an additional 355,923 shares during the period. Morgan Stanley lifted its stake in Ecolab by 7.2% in the 1st quarter. Morgan Stanley now owns 5,095,171 shares of the basic materials company’s stock valued at $793,980,000 after purchasing an additional 344,404 shares during the last quarter. Finally, Advisor Group Holdings Inc. bought a new position in Ecolab in the 1st quarter valued at approximately $8,144,000. 74.16% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Jill S. Wyant sold 5,729 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $204.06, for a total transaction of $1,169,059.74. Following the transaction, the executive vice president now directly owns 24,827 shares of the company’s stock, valued at $5,066,197.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.22% of the stock is owned by corporate insiders.
Several brokerages recently commented on ECL. Gabelli downgraded shares of Ecolab from a “buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. G.Research downgraded shares of Ecolab from a “buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Bank of America initiated coverage on shares of Ecolab in a research report on Wednesday, July 8th. They issued a “neutral” rating and a $212.00 price target for the company. Boenning Scattergood upgraded shares of Ecolab from a “neutral” rating to an “outperform” rating and upped their price target for the company from $197.84 to $230.00 in a research report on Tuesday, July 28th. Finally, TheStreet cut shares of Ecolab from an “a-” rating to a “c+” rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $189.69.
Shares of NYSE ECL opened at $208.68 on Wednesday. The firm has a market cap of $58.97 billion, a PE ratio of -70.04, a P/E/G ratio of 4.94 and a beta of 0.94. Ecolab Inc. has a 12-month low of $124.60 and a 12-month high of $231.36. The company’s fifty day simple moving average is $197.41 and its 200 day simple moving average is $192.27. The company has a quick ratio of 1.22, a current ratio of 1.60 and a debt-to-equity ratio of 1.15.
Ecolab (NYSE:ECL) last issued its earnings results on Tuesday, July 28th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.20). The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Ecolab had a positive return on equity of 18.80% and a negative net margin of 6.17%. The firm’s revenue was down 28.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 earnings per share. On average, equities analysts predict that Ecolab Inc. will post 4.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Monday, September 14th. Ecolab’s dividend payout ratio is presently 32.30%.
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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