Northeast Investment Management Acquires 58 Shares of Ecolab Inc. (ECL)
Northeast Investment Management raised its stake in Ecolab Inc. (NYSE:ECL) by 2.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,043 shares of the basic materials company’s stock after buying an additional 58 shares during the period. Northeast Investment Management’s holdings in Ecolab were worth $271,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of ECL. BlackRock Inc. raised its stake 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 stake 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 stake 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 purchased a new stake in Ecolab during the first quarter valued at approximately $59,389,000. Finally, AXA raised its stake 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 own 75.53% of the company’s stock.
Shares of Ecolab Inc. (NYSE ECL) opened at 130.98 on Thursday. Ecolab Inc. has a 52 week low of $110.65 and a 52 week high of $134.89. The stock’s 50 day moving average is $131.81 and its 200-day moving average is $128.52. The firm has a market cap of $37.90 billion, a PE ratio of 29.95 and a beta of 0.98.
Ecolab (NYSE:ECL) last announced its earnings results on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.01. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.40 billion. Ecolab had a return on equity of 18.93% and a net margin of 9.66%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 EPS. On average, equities analysts predict that Ecolab Inc. will post $4.80 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Tuesday, September 19th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, September 18th. Ecolab’s payout ratio is currently 33.79%.
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Several research firms have commented on ECL. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $141.00 price target (up from $133.00) on shares of Ecolab in a research report on Friday, June 2nd. Credit Suisse Group set a $128.00 price objective on shares of Ecolab and gave the company a “hold” rating in a research report on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $130.00 price objective on shares of Ecolab in a research report on Thursday, August 3rd. Zacks Investment Research lowered shares of Ecolab from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Canaccord Genuity increased their price objective on shares of Ecolab from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 28th. One investment 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. The stock has an average rating of “Hold” and a consensus price target of $133.57.
In other news, EVP Stephen M. Taylor sold 23,151 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $133.06, for a total value of $3,080,472.06. Following the sale, the executive vice president now owns 44,466 shares of the company’s stock, valued at approximately $5,916,645.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bruno Lavandier sold 1,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $133.52, for a total value of $133,520.00. Following the completion of the sale, the senior vice president now directly owns 8,922 shares in the company, valued at approximately $1,191,265.44. The disclosure for this sale can be found here. 1.49% of the stock is owned by insiders.
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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