Ecolab Inc. (ECL) Shares Sold by Sit Investment Associates Inc.
Sit Investment Associates Inc. lowered its position in Ecolab Inc. (NYSE:ECL) by 4.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 113,750 shares of the company’s stock after selling 5,400 shares during the period. Sit Investment Associates Inc.’s holdings in Ecolab were worth $13,491,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. UBS Asset Management Americas Inc. boosted its stake in Ecolab by 14.8% in the first quarter. UBS Asset Management Americas Inc. now owns 3,099,051 shares of the company’s stock worth $345,606,000 after buying an additional 399,797 shares during the period. Swedbank boosted its stake in Ecolab by 31.8% in the second quarter. Swedbank now owns 1,279,249 shares of the company’s stock worth $151,719,000 after buying an additional 308,469 shares during the period. PGGM Investments boosted its stake in Ecolab by 76.9% in the second quarter. PGGM Investments now owns 569,175 shares of the company’s stock worth $67,504,000 after buying an additional 247,406 shares during the period. American Century Companies Inc. boosted its stake in Ecolab by 33.1% in the second quarter. American Century Companies Inc. now owns 949,172 shares of the company’s stock worth $112,572,000 after buying an additional 235,952 shares during the period. Finally, Bank of Montreal Can purchased a new stake in Ecolab during the second quarter worth approximately $19,574,000. Institutional investors and hedge funds own 74.80% of the company’s stock.
Shares of Ecolab Inc. (NYSE:ECL) traded up 0.39% on Thursday, hitting $120.48. The company had a trading volume of 394,248 shares. The company has a 50-day moving average of $120.90 and a 200 day moving average of $118.23. The stock has a market cap of $35.13 billion, a PE ratio of 37.78 and a beta of 0.87. Ecolab Inc. has a 12 month low of $98.62 and a 12 month high of $124.60.
Ecolab (NYSE:ECL) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.08 EPS for the quarter, meeting the consensus estimate of $1.08. Ecolab had a net margin of 7.20% and a return on equity of 19.24%. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter last year, the business earned $1.08 earnings per share. Ecolab’s revenue was down 2.1% compared to the same quarter last year. Analysts anticipate that Ecolab Inc. will post $4.44 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Tuesday, September 20th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, September 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.17%. Ecolab’s dividend payout ratio is presently 43.89%.
ECL has been the topic of several recent research reports. Jefferies Group restated a “hold” rating on shares of Ecolab in a research report on Wednesday, July 6th. Nomura dropped their price target on Ecolab from $96.00 to $94.00 and set a “reduce” rating on the stock in a research report on Wednesday, June 29th. Barclays PLC restated an “overweight” rating and issued a $120.00 price target on shares of Ecolab in a research report on Friday, July 1st. Macquarie initiated coverage on Ecolab in a research report on Thursday, August 25th. They issued an “outperform” rating and a $143.00 price target on the stock. Finally, Zacks Investment Research upgraded Ecolab from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $127.25.
In related news, EVP Christophe Beck sold 5,789 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $122.70, for a total transaction of $710,310.30. Following the completion of the sale, the executive vice president now directly owns 32,475 shares in the company, valued at $3,984,682.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael A. Hickey sold 17,761 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $123.90, for a total transaction of $2,200,587.90. Following the sale, the executive vice president now owns 61,342 shares of the company’s stock, valued at $7,600,273.80. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
Ecolab Company Profile
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s segments include Global Industrial, Global Institutional, Global Energy, Other and Corporate. The Global Industrial segment consists of the Water, Food and Beverage, Paper and Textile Care operating units. The Global Institutional segment consists of the Institutional, Specialty and Healthcare operating units.
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