Cape Cod Five Cents Savings Bank reduced its position in shares of Ecolab Inc. (NYSE:ECL) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,440 shares of the basic materials company’s stock after selling 3,274 shares during the period. Ecolab accounts for 1.1% of Cape Cod Five Cents Savings Bank’s portfolio, making the stock its 27th largest position. Cape Cod Five Cents Savings Bank’s holdings in Ecolab were worth $7,095,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in Ecolab by 60.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 800 shares of the basic materials company’s stock worth $100,000 after buying an additional 300 shares during the period. JNBA Financial Advisors raised its position in Ecolab by 2.5% in the first quarter. JNBA Financial Advisors now owns 871 shares of the basic materials company’s stock worth $109,000 after buying an additional 21 shares during the period. Harfst & Associates Inc. acquired a new position in Ecolab during the first quarter worth $117,000. Guardian Life Insurance Co. of America raised its position in Ecolab by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,012 shares of the basic materials company’s stock worth $127,000 after buying an additional 7 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in Ecolab during the first quarter worth $134,000. 75.66% of the stock is owned by hedge funds and other institutional investors.
Ecolab Inc. (NYSE:ECL) traded down 0.32% during mid-day trading on Friday, hitting $129.81. The stock had a trading volume of 618,651 shares. The company has a market cap of $37.56 billion, a PE ratio of 29.68 and a beta of 0.98. Ecolab Inc. has a one year low of $110.65 and a one year high of $134.89. The firm’s 50-day moving average price is $132.19 and its 200 day moving average price is $127.80.
Ecolab (NYSE:ECL) last announced its earnings results on Tuesday, August 1st. The basic materials company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Ecolab had a return on equity of 18.93% and a net margin of 9.66%. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period last year, the business posted $1.08 EPS. Ecolab’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts anticipate that Ecolab Inc. will post $4.80 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Tuesday, September 19th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, September 18th. Ecolab’s dividend payout ratio (DPR) is presently 33.79%.
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A number of research analysts recently weighed in on the stock. Deutsche Bank AG raised their target price on shares of Ecolab from $132.00 to $134.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $141.00 target price (up from $133.00) on shares of Ecolab in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Ecolab from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Credit Suisse Group set a $128.00 target price on shares of Ecolab and gave the company a “hold” rating in a report on Thursday, August 3rd. Finally, Canaccord Genuity lifted their price objective on shares of Ecolab from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently 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 firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $133.52, for a total transaction of $133,520.00. Following the sale, the senior vice president now owns 8,922 shares of the company’s stock, valued at approximately $1,191,265.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christophe Beck sold 6,959 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $127.11, for a total value of $884,558.49. Following the sale, the executive vice president now directly owns 42,419 shares in the company, valued at approximately $5,391,879.09. The disclosure for this sale can be found here. Insiders have sold a total of 44,810 shares of company stock worth $5,897,361 in the last three months. Corporate insiders own 1.49% of the company’s stock.
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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