BRYN MAWR TRUST Co Has $1.23 Million Holdings in Ecolab Inc. (ECL)
BRYN MAWR TRUST Co reduced its stake in Ecolab Inc. (NYSE:ECL) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,236 shares of the basic materials company’s stock after selling 15 shares during the period. BRYN MAWR TRUST Co’s holdings in Ecolab were worth $1,226,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. Acrospire Investment Management LLC increased its stake in Ecolab by 700.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the basic materials company’s stock worth $212,000 after purchasing an additional 1,400 shares during the period. Sandy Spring Bank increased its stake in Ecolab by 0.8% in the 2nd quarter. Sandy Spring Bank now owns 4,311 shares of the basic materials company’s stock worth $572,000 after purchasing an additional 34 shares during the period. PNC Financial Services Group Inc. increased its stake in Ecolab by 1.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 355,850 shares of the basic materials company’s stock worth $47,239,000 after purchasing an additional 5,189 shares during the period. Investment Centers of America Inc. increased its stake in Ecolab by 1.3% in the 2nd quarter. Investment Centers of America Inc. now owns 6,520 shares of the basic materials company’s stock worth $866,000 after purchasing an additional 83 shares during the period. Finally, Amalgamated Bank increased its stake in Ecolab by 53.5% in the 2nd quarter. Amalgamated Bank now owns 30,352 shares of the basic materials company’s stock worth $4,029,000 after purchasing an additional 10,579 shares during the period. 75.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ecolab Inc. (NYSE ECL) traded up 0.17% during midday trading on Wednesday, hitting $130.96. The stock had a trading volume of 30,591 shares. Ecolab Inc. has a 52-week low of $110.65 and a 52-week high of $134.89. The company’s 50 day moving average is $131.25 and its 200 day moving average is $129.52. The company has a market cap of $37.90 billion, a PE ratio of 29.94 and a beta of 0.99.
Ecolab (NYSE:ECL) last issued its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.01. Ecolab had a return on equity of 18.93% and a net margin of 9.66%. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior year, the business posted $1.08 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts anticipate that Ecolab Inc. will post $4.74 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Tuesday, September 19th will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, September 18th. This represents a $1.48 annualized dividend and a yield of 1.13%. Ecolab’s payout ratio is currently 33.79%.
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A number of brokerages have commented on ECL. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $141.00 price target (up from $133.00) on shares of Ecolab in a research note on Friday, June 2nd. Credit Suisse Group reaffirmed a “hold” rating on shares of Ecolab in a research note on Wednesday, September 6th. 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. Zacks Investment Research cut Ecolab from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Canaccord Genuity lifted their price target on Ecolab from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Ecolab presently has an average rating of “Hold” and an average price target of $133.93.
In other news, major shareholder William H. Gates III acquired 75,500 shares of Ecolab stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of $132.57 per share, for a total transaction of $10,009,035.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas W. Handley sold 7,397 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $130.63, for a total value of $966,270.11. The disclosure for this sale can be found here. Company 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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