Ingalls & Snyder LLC cut its stake in Ecolab Inc. (NYSE:ECL) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,951 shares of the basic materials company’s stock after selling 1,334 shares during the period. Ingalls & Snyder LLC’s holdings in Ecolab were worth $1,738,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. C WorldWide Group Holding A S raised its holdings in shares of Ecolab by 1.8% in the 3rd quarter. C WorldWide Group Holding A S now owns 3,769,066 shares of the basic materials company’s stock worth $484,739,000 after buying an additional 64,833 shares in the last quarter. Edgewood Management LLC raised its holdings in shares of Ecolab by 0.9% in the 3rd quarter. Edgewood Management LLC now owns 3,503,447 shares of the basic materials company’s stock worth $450,578,000 after buying an additional 30,773 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Ecolab by 2.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,896,477 shares of the basic materials company’s stock worth $243,906,000 after buying an additional 39,638 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Ecolab by 4.2% in the 3rd quarter. Legal & General Group Plc now owns 1,421,340 shares of the basic materials company’s stock worth $182,806,000 after buying an additional 56,812 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in shares of Ecolab by 0.6% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,385,012 shares of the basic materials company’s stock worth $178,126,000 after buying an additional 8,942 shares in the last quarter. 76.57% of the stock is owned by institutional investors and hedge funds.
ECL has been the subject of a number of recent research reports. Zacks Investment Research cut Ecolab from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Robert W. Baird reissued a “hold” rating and issued a $140.00 target price on shares of Ecolab in a report on Thursday, October 12th. Stifel Nicolaus restated a “hold” rating and set a $140.00 price target on shares of Ecolab in a research report on Wednesday, November 1st. Jefferies Group increased their price target on Ecolab from $130.00 to $140.00 and gave the stock a “hold” rating in a research report on Wednesday, November 1st. Finally, Barclays increased their price target on Ecolab from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. Ecolab currently has a consensus rating of “Hold” and a consensus target price of $137.21.
Ecolab Inc. (ECL) opened at $139.75 on Friday. The company has a market capitalization of $40,375.73, a price-to-earnings ratio of 30.71, a price-to-earnings-growth ratio of 2.06 and a beta of 1.05. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.23 and a quick ratio of 0.83. Ecolab Inc. has a 12-month low of $117.55 and a 12-month high of $139.97.
Ecolab (NYSE:ECL) last announced its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $1.37 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.01. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.55 billion. Ecolab had a return on equity of 19.05% and a net margin of 9.67%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $1.28 EPS. equities research analysts predict that Ecolab Inc. will post 4.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, December 19th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 1.17%. This is a positive change from Ecolab’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 18th. Ecolab’s dividend payout ratio (DPR) is presently 33.26%.
In other Ecolab news, CEO Douglas M. Baker, Jr. sold 18,000 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $137.09, for a total value of $2,467,620.00. Following the transaction, the chief executive officer now directly owns 427,548 shares in the company, valued at approximately $58,612,555.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael A. Hickey sold 19,300 shares of the stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $137.54, for a total value of $2,654,522.00. Following the completion of the transaction, the executive vice president now owns 43,262 shares in the company, valued at $5,950,255.48. The disclosure for this sale can be found here. Insiders sold a total of 57,446 shares of company stock worth $7,886,307 over the last quarter. Corporate insiders own 1.49% of the company’s stock.
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s cleaning and sanitizing programs and products, pest elimination services and equipment maintenance and repair services support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors in over 170 countries.
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