Polaris Greystone Financial Group LLC purchased a new position in Ecolab Inc. (NYSE:ECL) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 3,452 shares of the company’s stock, valued at approximately $409,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of ECL. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Ecolab by 2.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,279 shares of the company’s stock valued at $1,373,000 after buying an additional 286 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Ecolab by 0.7% in the first quarter. Arizona State Retirement System now owns 88,436 shares of the company’s stock valued at $9,862,000 after buying an additional 600 shares during the last quarter. Eachwin Capital LP acquired a new position in shares of Ecolab during the first quarter valued at about $464,000. Moore Capital Management LP boosted its position in shares of Ecolab by 266.7% in the first quarter. Moore Capital Management LP now owns 127,300 shares of the company’s stock valued at $14,196,000 after buying an additional 92,582 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Ecolab during the first quarter valued at about $694,000. Hedge funds and other institutional investors own 74.79% of the company’s stock.
Shares of Ecolab Inc. (NYSE:ECL) traded up 0.12% during midday trading on Friday, hitting $115.10. 860,134 shares of the stock were exchanged. Ecolab Inc. has a one year low of $98.62 and a one year high of $124.60. The company has a market cap of $33.56 billion, a price-to-earnings ratio of 36.09 and a beta of 0.87. The firm has a 50 day moving average of $118.10 and a 200-day moving average of $118.82.
Ecolab (NYSE:ECL) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.08 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.08. Ecolab had a return on equity of 19.24% and a net margin of 7.20%. The business earned $3.32 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the previous year, the company posted $1.08 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities analysts expect that Ecolab Inc. will post $4.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Tuesday, September 20th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, September 16th. Ecolab’s dividend payout ratio is presently 43.89%.
ECL has been the topic of several recent research reports. Jefferies Group reiterated a “hold” rating on shares of Ecolab in a report on Wednesday, July 6th. Macquarie initiated coverage on shares of Ecolab in a report on Thursday, August 25th. They set an “outperform” rating and a $143.00 target price on the stock. Nomura increased their target price on shares of Ecolab from $94.00 to $98.00 and gave the stock a “reduce” rating in a report on Monday, August 22nd. Zacks Investment Research upgraded shares of Ecolab from a “hold” rating to a “buy” rating and set a $136.00 target price on the stock in a report on Tuesday, October 4th. Finally, Deutsche Bank AG increased their target price on shares of Ecolab from $118.00 to $126.00 and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $127.68.
In related news, EVP Christophe Beck sold 5,789 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $122.70, for a total transaction of $710,310.30. Following the completion of the sale, the executive vice president now owns 32,475 shares in the company, valued at $3,984,682.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Douglas M. Baker, Jr. sold 25,800 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $122.41, for a total value of $3,158,178.00. Following the sale, the chairman now owns 456,349 shares of the company’s stock, valued at approximately $55,861,681.09. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
Ecolab Company Profile
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s segments include Global Industrial, Global Institutional, Global Energy, Other and Corporate. The Global Industrial segment consists of the Water, Food and Beverage, Paper and Textile Care operating units. The Global Institutional segment consists of the Institutional, Specialty and Healthcare operating units.