Eagle Capital Management LLC lowered its position in shares of Ecolab Inc. (NYSE:ECL) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,389 shares of the company’s stock after selling 408 shares during the period. Ecolab accounts for approximately 3.4% of Eagle Capital Management LLC’s portfolio, making the stock its 16th largest position. Eagle Capital Management LLC’s holdings in Ecolab were worth $3,130,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Virginia Retirement System acquired a new position in shares of Ecolab during the first quarter worth $481,000. NN Investment Partners Holdings N.V. acquired a new position in shares of Ecolab during the first quarter worth $1,145,000. Menta Capital LLC increased its position in shares of Ecolab by 66.7% in the first quarter. Menta Capital LLC now owns 7,300 shares of the company’s stock worth $814,000 after buying an additional 2,920 shares in the last quarter. Aviva PLC increased its position in shares of Ecolab by 1.0% in the first quarter. Aviva PLC now owns 136,169 shares of the company’s stock worth $15,186,000 after buying an additional 1,303 shares in the last quarter. Finally, Credit Agricole S A increased its position in shares of Ecolab by 41.4% in the first quarter. Credit Agricole S A now owns 73,165 shares of the company’s stock worth $8,160,000 after buying an additional 21,414 shares in the last quarter. 74.79% of the stock is owned by institutional investors and hedge funds.
Shares of Ecolab Inc. (NYSE:ECL) traded down 0.33% during mid-day trading on Monday, hitting $116.37. 233,874 shares of the stock traded hands. The firm has a 50 day moving average of $120.04 and a 200 day moving average of $118.51. Ecolab Inc. has a 12 month low of $98.62 and a 12 month high of $124.60. The stock has a market cap of $33.93 billion, a price-to-earnings ratio of 36.49 and a beta of 0.87.
Ecolab (NYSE:ECL) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.08. Ecolab had a net margin of 7.20% and a return on equity of 19.24%. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the business posted $1.08 EPS. Ecolab’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, equities analysts expect that Ecolab Inc. will post $4.44 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Tuesday, September 20th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, September 16th. This represents a $1.40 dividend on an annualized basis and a yield of 1.20%. Ecolab’s payout ratio is 43.89%.
A number of research firms have recently commented on ECL. Canaccord Genuity reiterated a “buy” rating on shares of Ecolab in a report on Wednesday, June 22nd. Nomura cut their price target on shares of Ecolab from $96.00 to $94.00 and set a “reduce” rating on the stock in a report on Wednesday, June 29th. Barclays PLC reiterated an “overweight” rating and set a $120.00 price target on shares of Ecolab in a report on Friday, July 1st. Jefferies Group reiterated a “hold” rating on shares of Ecolab in a report on Wednesday, July 6th. Finally, Citigroup Inc. increased their price target on shares of Ecolab from $117.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, July 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $127.68.
In other Ecolab news, Chairman Douglas M. Baker, Jr. sold 25,800 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $122.41, for a total transaction of $3,158,178.00. Following the transaction, the chairman now owns 456,349 shares in the company, valued at approximately $55,861,681.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christophe Beck sold 5,789 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $122.70, for a total transaction of $710,310.30. Following the transaction, the executive vice president now owns 32,475 shares in the company, valued at approximately $3,984,682.50. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
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.