Ecolab Inc. (ECL) Stake Boosted by Bailard Inc.
Bailard Inc. grew its position in Ecolab Inc. (NYSE:ECL) by 6.1% during the second quarter, HoldingsChannel.com reports. The firm owned 6,033 shares of the basic materials company’s stock after buying an additional 347 shares during the quarter. Bailard Inc.’s holdings in Ecolab were worth $847,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in ECL. Squar Milner Financial Services LLC bought a new position in shares of Ecolab in the second quarter valued at approximately $126,000. Signaturefd LLC bought a new position in shares of Ecolab in the first quarter valued at approximately $131,000. LeJeune Puetz Investment Counsel LLC bought a new position in shares of Ecolab in the second quarter valued at approximately $154,000. Summit Trail Advisors LLC raised its position in shares of Ecolab by 14,388.0% in the first quarter. Summit Trail Advisors LLC now owns 162,411 shares of the basic materials company’s stock valued at $162,000 after purchasing an additional 161,290 shares during the period. Finally, Bingham Osborn & Scarborough LLC bought a new position in shares of Ecolab in the second quarter valued at approximately $204,000. 76.38% of the stock is currently owned by institutional investors.
ECL has been the topic of a number of research reports. Boenning Scattergood reaffirmed a “buy” rating on shares of Ecolab in a research report on Tuesday, July 31st. Citigroup reaffirmed an “outperform” rating and set a $141.00 target price on shares of Ecolab in a research report on Monday, May 7th. Zacks Investment Research lowered shares of Ecolab from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Nomura boosted their target price on shares of Ecolab from $146.00 to $153.00 and gave the stock a “neutral” rating in a research report on Monday, August 13th. Finally, Credit Suisse Group boosted their target price on shares of Ecolab from $137.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $147.00.
Ecolab (NYSE:ECL) last announced its earnings results on Tuesday, July 31st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.27. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.69 billion. Ecolab had a net margin of 10.83% and a return on equity of 18.96%. Ecolab’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.13 earnings per share. analysts predict that Ecolab Inc. will post 5.38 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Tuesday, September 18th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Monday, September 17th. Ecolab’s dividend payout ratio (DPR) is presently 34.97%.
In other Ecolab news, EVP Roberto Inchaustegui sold 10,600 shares of the business’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $145.71, for a total value of $1,544,526.00. Following the sale, the executive vice president now owns 33,202 shares of the company’s stock, valued at approximately $4,837,863.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christophe Beck sold 25,500 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $147.83, for a total transaction of $3,769,665.00. Following the completion of the sale, the executive vice president now directly owns 27,649 shares in the company, valued at approximately $4,087,351.67. The disclosure for this sale can be found here. Insiders sold a total of 42,800 shares of company stock worth $6,308,471 in the last three months. Insiders own 1.50% of the company’s stock.
Ecolab Inc provides water, hygiene, and energy technologies and services for customers worldwide. The company operates through Global Industrial, Global Institutional, and Global Energy segments. The Global Industrial segment provides water treatment and process applications, and cleaning and sanitizing solutions primarily to large industrial customers within the manufacturing, food and beverage processing, chemical, mining and primary metals, power generation, pulp and paper, and commercial laundry industries.
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