Smithbridge Asset Management Inc. DE raised its position in Ecolab Inc. (NYSE:ECL) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,815 shares of the basic materials company’s stock after buying an additional 165 shares during the period. Ecolab comprises 2.2% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 18th largest position. Smithbridge Asset Management Inc. DE’s holdings in Ecolab were worth $2,630,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Federated Investors Inc. PA raised its position in shares of Ecolab by 14.8% in the fourth quarter. Federated Investors Inc. PA now owns 7,898 shares of the basic materials company’s stock worth $926,000 after buying an additional 1,019 shares during the period. Perigon Wealth Management LLC increased its position in shares of Ecolab by 26.2% in the fourth quarter. Perigon Wealth Management LLC now owns 1,262 shares of the basic materials company’s stock worth $158,000 after buying an additional 262 shares in the last quarter. HighPoint Advisor Group LLC increased its position in shares of Ecolab by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 7,910 shares of the basic materials company’s stock worth $996,000 after buying an additional 142 shares in the last quarter. M Holdings Securities Inc. increased its position in shares of Ecolab by 1.0% in the fourth quarter. M Holdings Securities Inc. now owns 7,188 shares of the basic materials company’s stock worth $843,000 after buying an additional 72 shares in the last quarter. Finally, Kentucky Retirement Systems purchased a new position in shares of Ecolab during the fourth quarter worth $2,232,000. Institutional investors own 75.66% of the company’s stock.
Ecolab Inc. (ECL) opened at 129.81 on Friday. The stock has a market capitalization of $37.56 billion, a PE ratio of 29.68 and a beta of 0.98. The firm has a 50-day moving average of $132.19 and a 200-day moving average of $127.80. Ecolab Inc. has a 1-year low of $110.65 and a 1-year high of $134.89.
Ecolab (NYSE:ECL) last announced its earnings results on Tuesday, August 1st. The basic materials company reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.01. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.40 billion. Ecolab had a net margin of 9.66% and a return on equity of 18.93%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 earnings per share. Equities analysts expect that Ecolab Inc. will post $4.80 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Tuesday, September 19th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, September 18th. This represents a $1.48 dividend on an annualized basis and a yield of 1.14%. Ecolab’s dividend payout ratio is presently 33.79%.
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A number of brokerages recently weighed in on ECL. UBS AG reissued a “buy” rating and set a $147.00 target price (up previously from $144.00) on shares of Ecolab in a research note on Tuesday. Credit Suisse Group set a $128.00 target price on shares of Ecolab and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $130.00 price target on shares of Ecolab in a research note on Thursday, August 3rd. Deutsche Bank AG lifted their price target on shares of Ecolab from $132.00 to $134.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Finally, Canaccord Genuity lifted their price target on shares of Ecolab from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $133.43.
In other news, SVP Bruno Lavandier sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $133.52, for a total transaction of $133,520.00. Following the transaction, the senior vice president now owns 8,922 shares in the company, valued at $1,191,265.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Christophe Beck sold 6,959 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $127.11, for a total transaction of $884,558.49. Following the transaction, the executive vice president now owns 42,419 shares in the company, valued at approximately $5,391,879.09. The disclosure for this sale can be found here. Insiders sold 44,810 shares of company stock valued at $5,897,361 over the last quarter. 1.49% of the stock is currently owned by corporate insiders.
Ecolab Company Profile
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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