Janney Montgomery Scott LLC grew its holdings in shares of Ecolab Inc. (NYSE:ECL) by 16.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 47,716 shares of the basic materials company’s stock after purchasing an additional 6,572 shares during the period. Janney Montgomery Scott LLC’s holdings in Ecolab were worth $6,137,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Courier Capital LLC purchased a new position in Ecolab in the 2nd quarter worth approximately $282,000. Alps Advisors Inc. raised its holdings in Ecolab by 21.3% in the 2nd quarter. Alps Advisors Inc. now owns 2,134 shares of the basic materials company’s stock worth $283,000 after acquiring an additional 375 shares during the last quarter. Stephens Inc. AR raised its holdings in Ecolab by 4.7% in the 2nd quarter. Stephens Inc. AR now owns 18,332 shares of the basic materials company’s stock worth $2,434,000 after acquiring an additional 822 shares during the last quarter. Markel Corp raised its holdings in Ecolab by 4.6% in the 3rd quarter. Markel Corp now owns 228,800 shares of the basic materials company’s stock worth $29,426,000 after acquiring an additional 10,000 shares during the last quarter. Finally, King Luther Capital Management Corp raised its holdings in Ecolab by 0.5% in the 2nd quarter. King Luther Capital Management Corp now owns 817,279 shares of the basic materials company’s stock worth $108,494,000 after acquiring an additional 3,725 shares during the last quarter. Hedge funds and other institutional investors own 76.98% of the company’s stock.
In other news, SVP Bruno Lavandier sold 347 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $134.77, for a total transaction of $46,765.19. Following the completion of the sale, the senior vice president now owns 7,615 shares of the company’s stock, valued at approximately $1,026,273.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Thomas W. Handley sold 7,397 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $130.63, for a total transaction of $966,270.11. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,843 shares of company stock valued at $8,852,577. Insiders own 1.49% of the company’s stock.
Shares of Ecolab Inc. (NYSE ECL) opened at $134.85 on Wednesday. Ecolab Inc. has a 1 year low of $116.92 and a 1 year high of $137.96. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 1.23. The stock has a market cap of $38,908.09, a price-to-earnings ratio of 29.60, a PEG ratio of 2.25 and a beta of 1.05.
Ecolab (NYSE:ECL) last issued its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.01. Ecolab had a net margin of 9.67% and a return on equity of 19.05%. The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. sell-side analysts forecast that Ecolab Inc. will post 4.7 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, December 19th will be given a dividend of $0.41 per share. This is an increase from Ecolab’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 18th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.22%. Ecolab’s payout ratio is presently 33.26%.
ECL has been the subject of a number of recent analyst reports. Credit Suisse Group restated a “hold” rating on shares of Ecolab in a report on Wednesday, September 6th. Royal Bank of Canada boosted their price objective on shares of Ecolab from $134.00 to $137.00 and gave the stock an “outperform” rating in a report on Tuesday, September 12th. Zacks Investment Research upgraded shares of Ecolab from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Canaccord Genuity restated a “buy” rating and issued a $145.00 price objective on shares of Ecolab in a report on Monday, September 11th. Finally, Nomura restated a “hold” rating and issued a $117.00 price objective (down from $120.00) on shares of Ecolab in a report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $136.86.
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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