Gofen & Glossberg LLC IL Has $26.53 Million Holdings in Ecolab Inc. (ECL)
Gofen & Glossberg LLC IL reduced its position in shares of Ecolab Inc. (NYSE:ECL) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206,291 shares of the basic materials company’s stock after selling 1,786 shares during the period. Ecolab accounts for about 1.0% of Gofen & Glossberg LLC IL’s investment portfolio, making the stock its 27th largest position. Gofen & Glossberg LLC IL owned about 0.07% of Ecolab worth $26,531,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the business. Belpointe Asset Management LLC acquired a new stake in shares of Ecolab in the third quarter worth approximately $825,000. IFM Investors Pty Ltd acquired a new stake in shares of Ecolab in the third quarter worth approximately $941,000. Stonebridge Capital Advisors LLC boosted its position in shares of Ecolab by 30.0% in the third quarter. Stonebridge Capital Advisors LLC now owns 4,336 shares of the basic materials company’s stock worth $557,000 after acquiring an additional 1,000 shares during the last quarter. TT International boosted its position in shares of Ecolab by 52.2% in the third quarter. TT International now owns 73,369 shares of the basic materials company’s stock worth $9,435,000 after acquiring an additional 25,169 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of Ecolab by 1,397.8% in the third quarter. Sterling Capital Management LLC now owns 570,435 shares of the basic materials company’s stock worth $73,364,000 after acquiring an additional 532,349 shares during the last quarter. 76.98% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on ECL shares. Royal Bank of Canada raised their target price on shares of Ecolab from $134.00 to $137.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 12th. Credit Suisse Group reissued a “hold” rating on shares of Ecolab in a research report on Wednesday, September 6th. Instinet reissued a “neutral” rating and issued a $117.00 target price (down from $120.00) on shares of Ecolab in a research report on Tuesday, September 12th. Robert W. Baird reissued a “hold” rating and issued a $140.00 target price on shares of Ecolab in a research report on Thursday, October 12th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $145.00 target price on shares of Ecolab in a research report on Monday, September 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. Ecolab has a consensus rating of “Hold” and a consensus price target of $136.86.
In other news, EVP Michael A. Hickey sold 19,300 shares of Ecolab stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $137.54, for a total transaction of $2,654,522.00. Following the sale, the executive vice president now owns 43,262 shares in the company, valued at $5,950,255.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas W. Handley sold 11,644 shares of Ecolab stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $137.50, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 57,446 shares of company stock worth $7,886,307 in the last quarter. Insiders own 1.49% of the company’s stock.
Ecolab Inc. (ECL) opened at $135.00 on Thursday. Ecolab Inc. has a 1-year low of $116.92 and a 1-year high of $137.96. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.23 and a quick ratio of 0.83. The company has a market cap of $38,957.20, a P/E ratio of 29.64, a P/E/G ratio of 2.25 and a beta of 1.05.
Ecolab (NYSE:ECL) last posted its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $1.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.01. Ecolab had a net margin of 9.67% and a return on equity of 19.05%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same quarter last year, the firm posted $1.28 earnings per share. Ecolab’s revenue for the quarter was up 5.2% compared to the same quarter last year. equities analysts expect that Ecolab Inc. will post 4.7 EPS for the current fiscal year.
The firm 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. This is a positive change from Ecolab’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 18th. This represents a $1.64 annualized dividend and a yield of 1.21%. Ecolab’s dividend payout ratio (DPR) is presently 33.26%.
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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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