Sei Investments Co. lessened its stake in Ecolab Inc. (NYSE:ECL) by 42.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 18,911 shares of the basic materials company’s stock after selling 14,109 shares during the quarter. Sei Investments Co.’s holdings in Ecolab were worth $3,855,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Solstein Capital LLC bought a new position in shares of Ecolab during the 1st quarter valued at about $28,000. Concord Wealth Partners boosted its position in shares of Ecolab by 71.4% during the 1st quarter. Concord Wealth Partners now owns 156 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 65 shares in the last quarter. Kistler Tiffany Companies LLC boosted its position in shares of Ecolab by 89.5% during the 1st quarter. Kistler Tiffany Companies LLC now owns 180 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 85 shares in the last quarter. Newfound Research LLC bought a new position in shares of Ecolab during the 2nd quarter valued at about $41,000. Finally, Regency Capital Management Inc. DE bought a new position in shares of Ecolab during the 1st quarter valued at about $43,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.
Separately, Royal Bank of Canada initiated coverage on shares of Ecolab in a research note on Thursday, September 2nd. They set an “outperform” rating and a $260.00 price objective for the company. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Ecolab currently has an average rating of “Buy” and a consensus price target of $232.60.
Ecolab (NYSE:ECL) last issued its quarterly earnings data on Tuesday, July 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.04. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.11 billion. Ecolab had a net margin of 8.66% and a return on equity of 20.14%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. On average, analysts predict that Ecolab Inc. will post 5.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Tuesday, September 14th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, September 13th. Ecolab’s payout ratio is presently 47.76%.
In other Ecolab news, EVP Michael C. Mccormick sold 9,930 shares of the stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $220.00, for a total transaction of $2,184,600.00. Following the transaction, the executive vice president now owns 63,641 shares in the company, valued at $14,001,020. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Timothy P. Mulhere sold 20,194 shares of the stock in a transaction that occurred on Friday, August 20th. The shares were sold at an average price of $221.40, for a total value of $4,470,951.60. Following the transaction, the executive vice president now owns 21,844 shares in the company, valued at approximately $4,836,261.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,460 shares of company stock worth $9,860,974. Insiders own 1.05% of the company’s stock.
Ecolab, Inc engages in the provision of products and services in the field of water, hygiene, and energy. It operates through the following segments: Global Industrial, Global Institutional & Specialty, Global Energy & Life Science, and Other. The Global Industrial segment consists of the water, food and beverage, paper, and downstream operating segments.
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