State of Alaska Department of Revenue Has $138,000 Stake in Ecolab Inc. (NYSE:ECL)
State of Alaska Department of Revenue lowered its stake in Ecolab Inc. (NYSE:ECL) by 2.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,041 shares of the basic materials company’s stock after selling 30 shares during the period. State of Alaska Department of Revenue’s holdings in Ecolab were worth $138,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in shares of Ecolab by 60.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 800 shares of the basic materials company’s stock valued at $100,000 after buying an additional 300 shares during the last quarter. JNBA Financial Advisors boosted its position in shares of Ecolab by 2.5% in the first quarter. JNBA Financial Advisors now owns 871 shares of the basic materials company’s stock valued at $109,000 after buying an additional 21 shares during the last quarter. Harfst & Associates Inc. bought a new position in shares of Ecolab during the first quarter valued at about $117,000. Guardian Life Insurance Co. of America boosted its position in shares of Ecolab by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,012 shares of the basic materials company’s stock valued at $127,000 after buying an additional 7 shares during the last quarter. Finally, Global X Management Co. LLC boosted its position in shares of Ecolab by 26.2% in the first quarter. Global X Management Co. LLC now owns 1,156 shares of the basic materials company’s stock valued at $145,000 after buying an additional 240 shares during the last quarter. Institutional investors own 75.66% of the company’s stock.
Ecolab Inc. (ECL) traded up 0.11% during trading on Friday, hitting $130.37. 197,558 shares of the stock were exchanged. The company has a market cap of $37.73 billion, a price-to-earnings ratio of 29.81 and a beta of 0.98. The stock’s 50 day moving average is $132.25 and its 200-day moving average is $127.73. Ecolab Inc. has a one year low of $110.65 and a one year high of $134.89.
Ecolab (NYSE:ECL) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Ecolab had a net margin of 9.66% and a return on equity of 18.93%. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the business earned $1.08 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. On average, equities research analysts expect that Ecolab Inc. will post $4.80 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Tuesday, September 19th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, September 18th. Ecolab’s dividend payout ratio is currently 33.79%.
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Several research analysts have recently issued reports on the stock. UBS AG restated a “buy” rating and issued a $147.00 target price (up previously from $144.00) on shares of Ecolab in a report on Tuesday. Credit Suisse Group set a $128.00 price target on shares of Ecolab and gave the company a “hold” rating in a research report on Thursday, August 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $130.00 price target on shares of Ecolab in a research report on Thursday, August 3rd. Deutsche Bank AG upped their price target on shares of Ecolab from $132.00 to $134.00 and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Finally, Canaccord Genuity upped their price target 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. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $133.43.
In related news, major shareholder William H. Gates III acquired 75,500 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were acquired at an average cost of $132.57 per share, for a total transaction of $10,009,035.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bruno Lavandier sold 1,000 shares of Ecolab stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $133.52, for a total transaction of $133,520.00. Following the sale, the senior vice president now owns 8,922 shares in the company, valued at $1,191,265.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,810 shares of company stock worth $5,897,361. 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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