Chelsea Counsel Co. Purchases Shares of 1,500 Ecolab Inc. (ECL)
Chelsea Counsel Co. purchased a new stake in Ecolab Inc. (NYSE:ECL) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,500 shares of the basic materials company’s stock, valued at approximately $201,000.
Other hedge funds also recently modified their holdings of the company. Courier Capital LLC acquired a new position in Ecolab in the 2nd quarter valued at about $282,000. Bank of Nova Scotia Trust Co. acquired a new position in Ecolab during the 3rd quarter worth approximately $257,000. TT International increased its position in Ecolab by 52.2% during the 3rd quarter. TT International now owns 73,369 shares of the basic materials company’s stock worth $9,435,000 after purchasing an additional 25,169 shares during the period. Vident Investment Advisory LLC acquired a new position in Ecolab during the 3rd quarter worth approximately $412,000. Finally, Stephens Inc. AR increased its position in Ecolab by 4.7% during the 2nd quarter. Stephens Inc. AR now owns 18,332 shares of the basic materials company’s stock worth $2,434,000 after purchasing an additional 822 shares during the period. Hedge funds and other institutional investors own 76.55% of the company’s stock.
Several equities analysts have issued reports on the company. Robert W. Baird reiterated a “hold” rating and set a $140.00 target price on shares of Ecolab in a research report on Thursday, October 12th. Jefferies Group boosted their target price on Ecolab from $130.00 to $140.00 and gave the stock a “hold” rating in a research report on Wednesday, November 1st. Barclays boosted their target price on Ecolab from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Zacks Investment Research cut Ecolab from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, Citigroup cut Ecolab from a “buy” rating to a “neutral” rating in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $137.21.
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, topping analysts’ consensus estimates of $1.36 by $0.01. The business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Ecolab had a return on equity of 19.05% and a net margin of 9.67%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 EPS. equities analysts expect that Ecolab Inc. will post 4.7 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, December 19th will be issued a $0.41 dividend. The ex-dividend date is Monday, December 18th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from Ecolab’s previous quarterly dividend of $0.37. Ecolab’s dividend payout ratio is currently 33.33%.
In related news, insider Thomas W. Handley sold 11,644 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $137.50, for a total value of $1,601,050.00. Following the sale, the insider now owns 109,542 shares in the company, valued at approximately $15,062,025. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael A. Hickey sold 19,300 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $137.54, for a total value of $2,654,522.00. Following the completion of the sale, the executive vice president now owns 43,262 shares in the company, valued at approximately $5,950,255.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,446 shares of company stock worth $7,886,307. Insiders own 1.49% of the company’s stock.
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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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