Ecolab Inc. (ECL) Shares Sold by Arcadia Investment Management Corp MI
Arcadia Investment Management Corp MI reduced its stake in Ecolab Inc. (NYSE:ECL) by 8.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,963 shares of the basic materials company’s stock after selling 5,303 shares during the period. Ecolab makes up approximately 2.3% of Arcadia Investment Management Corp MI’s investment portfolio, making the stock its 8th largest position. Arcadia Investment Management Corp MI’s holdings in Ecolab were worth $7,164,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of ECL. BlackRock Inc. raised its position in Ecolab by 2,154.8% in the first quarter. BlackRock Inc. now owns 15,032,404 shares of the basic materials company’s stock valued at $1,884,161,000 after buying an additional 14,365,723 shares during the last quarter. Vanguard Group Inc. raised its position in Ecolab by 5.4% in the first quarter. Vanguard Group Inc. now owns 20,454,223 shares of the basic materials company’s stock valued at $2,563,731,000 after buying an additional 1,044,370 shares during the last quarter. Alliancebernstein L.P. raised its position in Ecolab by 19.3% in the first quarter. Alliancebernstein L.P. now owns 3,555,051 shares of the basic materials company’s stock valued at $445,590,000 after buying an additional 574,200 shares during the last quarter. Renaissance Technologies LLC bought a new position in Ecolab during the first quarter valued at approximately $59,389,000. Finally, AXA raised its position in Ecolab by 38.6% in the first quarter. AXA now owns 1,406,156 shares of the basic materials company’s stock valued at $176,247,000 after buying an additional 391,686 shares during the last quarter. Institutional investors and hedge funds own 75.53% of the company’s stock.
Ecolab Inc. (ECL) opened at 131.46 on Tuesday. The firm has a market capitalization of $38.04 billion, a price-to-earnings ratio of 30.05 and a beta of 0.98. Ecolab Inc. has a 12 month low of $110.65 and a 12 month high of $134.89. The company’s 50-day moving average price is $131.81 and its 200 day moving average price is $128.52.
Ecolab (NYSE:ECL) last issued its earnings results on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.01. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Ecolab had a net margin of 9.66% and a return on equity of 18.93%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. Analysts predict 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. Investors of record on Tuesday, September 19th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Monday, September 18th. Ecolab’s payout ratio is 33.79%.
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ECL has been the subject of several recent research reports. J P Morgan Chase & Co raised Ecolab from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $120.00 to $138.00 in a research report on Friday, May 26th. UBS AG reissued a “buy” rating and issued a $147.00 price target (up from $144.00) on shares of Ecolab in a research report on Wednesday, August 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $130.00 price target on shares of Ecolab in a research report on Wednesday, August 16th. BidaskClub lowered Ecolab from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $130.00 price target on shares of Ecolab in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Ecolab presently has an average rating of “Hold” and a consensus price target of $133.57.
In other Ecolab news, major shareholder William H. Gates III bought 75,500 shares of Ecolab stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average cost of $132.57 per share, for a total transaction of $10,009,035.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bruno Lavandier sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $133.52, for a total transaction of $133,520.00. Following the completion of the transaction, the senior vice president now directly owns 8,922 shares of the company’s stock, valued at approximately $1,191,265.44. 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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