Alta Capital Management LLC lowered its position in shares of Ecolab Inc. (NYSE:ECL) by 20.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 304,295 shares of the basic materials company’s stock after selling 78,458 shares during the period. Ecolab comprises about 2.6% of Alta Capital Management LLC’s holdings, making the stock its 15th largest position. Alta Capital Management LLC owned 0.11% of Ecolab worth $42,701,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Ecolab by 1.8% in the 1st quarter. BlackRock Inc. now owns 16,001,452 shares of the basic materials company’s stock valued at $2,193,323,000 after purchasing an additional 288,375 shares in the last quarter. Edgewood Management LLC lifted its position in shares of Ecolab by 3.8% during the 1st quarter. Edgewood Management LLC now owns 5,506,295 shares of the basic materials company’s stock valued at $754,748,000 after acquiring an additional 199,660 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in shares of Ecolab by 30.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,813,341 shares of the basic materials company’s stock valued at $385,623,000 after acquiring an additional 653,809 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Ecolab by 46.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,620,682 shares of the basic materials company’s stock valued at $359,217,000 after acquiring an additional 833,015 shares during the period. Finally, Eaton Vance Management lifted its position in shares of Ecolab by 2.4% during the 1st quarter. Eaton Vance Management now owns 1,607,209 shares of the basic materials company’s stock valued at $220,300,000 after acquiring an additional 37,193 shares during the period. Institutional investors and hedge funds own 76.38% of the company’s stock.
Several research analysts recently issued reports on ECL shares. Zacks Investment Research downgraded Ecolab from a “buy” rating to a “hold” rating in a research report on Monday, April 30th. Credit Suisse Group lifted their price objective on Ecolab from $137.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 2nd. Citigroup reiterated an “outperform” rating and issued a $141.00 price target on shares of Ecolab in a report on Monday, May 7th. Canaccord Genuity set a $155.00 price target on Ecolab and gave the company a “buy” rating in a report on Tuesday, April 24th. Finally, Nomura reiterated a “hold” rating and issued a $146.00 price target on shares of Ecolab in a report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $146.59.
NYSE:ECL opened at $147.04 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.27 and a quick ratio of 0.84. The stock has a market capitalization of $42.43 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 2.14 and a beta of 0.95. Ecolab Inc. has a 1-year low of $125.74 and a 1-year high of $150.46.
Ecolab (NYSE:ECL) last posted its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $1.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.27. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Ecolab had a net margin of 10.83% and a return on equity of 18.96%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 EPS. sell-side analysts expect that Ecolab Inc. will post 5.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Tuesday, September 18th will be given a $0.41 dividend. The ex-dividend date of this dividend is Monday, September 17th. This represents a $1.64 dividend on an annualized basis and a yield of 1.12%. Ecolab’s payout ratio is currently 34.97%.
Ecolab Company Profile
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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