Axa Sells 432,519 Shares of Ecolab Inc. (ECL)
Axa trimmed its holdings in shares of Ecolab Inc. (NYSE:ECL) by 32.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 917,685 shares of the basic materials company’s stock after selling 432,519 shares during the period. Axa owned about 0.32% of Ecolab worth $118,023,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Ecolab during the 3rd quarter worth about $485,000. Public Employees Retirement System of Ohio raised its holdings in shares of Ecolab by 1.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 176,341 shares of the basic materials company’s stock valued at $22,679,000 after purchasing an additional 2,491 shares during the period. Smith Shellnut Wilson LLC ADV raised its holdings in shares of Ecolab by 61.1% in the 3rd quarter. Smith Shellnut Wilson LLC ADV now owns 3,585 shares of the basic materials company’s stock valued at $461,000 after purchasing an additional 1,360 shares during the period. Belpointe Asset Management LLC bought a new stake in shares of Ecolab in the 3rd quarter valued at about $825,000. Finally, IFM Investors Pty Ltd bought a new stake in shares of Ecolab in the 3rd quarter valued at about $941,000. Institutional investors own 76.98% of the company’s stock.
In other Ecolab news, SVP Bruno Lavandier sold 1,250 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $135.71, for a total transaction of $169,637.50. Following the transaction, the senior vice president now owns 7,725 shares in the company, valued at approximately $1,048,359.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Douglas M. Baker, Jr. sold 18,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $137.09, for a total transaction of $2,467,620.00. Following the transaction, the chief executive officer now owns 427,548 shares in the company, valued at approximately $58,612,555.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,446 shares of company stock worth $7,886,307. Insiders own 1.49% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Credit Suisse Group reaffirmed a “hold” rating on shares of Ecolab in a report on Wednesday, September 6th. Robert W. Baird reaffirmed a “hold” rating and issued a $140.00 target price on shares of Ecolab in a report on Thursday, October 12th. Royal Bank of Canada upped their target price on shares of Ecolab from $137.00 to $143.00 and gave the company an “outperform” rating in a report on Tuesday, November 7th. BidaskClub raised shares of Ecolab from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 23rd. Finally, Zacks Investment Research raised shares of Ecolab from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. Ecolab has a consensus rating of “Hold” and a consensus target price of $136.86.
Ecolab Inc. (ECL) opened at $134.37 on Friday. The firm has a market cap of $39,003.43, a PE ratio of 29.67, a price-to-earnings-growth ratio of 2.25 and a beta of 1.05. The company has a quick ratio of 0.83, a current ratio of 1.23 and a debt-to-equity ratio of 0.89. Ecolab Inc. has a fifty-two week low of $116.92 and a fifty-two week high of $137.96.
Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.01. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Ecolab had a net margin of 9.67% and a return on equity of 19.05%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. equities research analysts anticipate that Ecolab Inc. will post 4.7 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, December 19th will be issued a $0.41 dividend. This is a boost from Ecolab’s previous quarterly dividend of $0.37. This represents a $1.64 annualized dividend and a yield of 1.22%. The ex-dividend date is Monday, December 18th. Ecolab’s dividend payout ratio is currently 33.26%.
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.
Want to see what other hedge funds are holding ECL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ecolab Inc. (NYSE:ECL).
Receive News & Ratings for Ecolab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecolab and related companies with Analyst Ratings Network's FREE daily email newsletter.