Carleon Capital Partners LLC Continues to Hold Stake in Ecolab Inc. (ECL)
Carleon Capital Partners LLC maintained its position in shares of Ecolab Inc. (NYSE:ECL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,800 shares of the basic materials company’s stock at the end of the second quarter. Carleon Capital Partners LLC’s holdings in Ecolab were worth $2,093,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of 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 position in shares of 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 position in shares of 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 bought a new position in shares of Ecolab during the first quarter valued at approximately $59,389,000. Finally, AXA raised its position in shares of 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. 75.73% of the stock is owned by hedge funds and other institutional investors.
Ecolab Inc. (NYSE ECL) opened at 132.41 on Thursday. Ecolab Inc. has a 12-month low of $110.65 and a 12-month high of $134.89. The stock has a market capitalization of $38.32 billion, a price-to-earnings ratio of 30.27 and a beta of 0.98. The stock’s 50 day moving average is $132.18 and its 200 day moving average is $128.07.
Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.01. Ecolab had a return on equity of 18.93% and a net margin of 9.66%. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Ecolab Inc. will post $4.80 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders 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 dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, September 18th. Ecolab’s dividend payout ratio (DPR) is presently 33.79%.
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ECL has been the subject of several research analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Ecolab in a research report on Monday, May 1st. Zacks Investment Research lowered shares of Ecolab from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $141.00 price objective (up from $133.00) on shares of Ecolab in a research report on Friday, June 2nd. J P Morgan Chase & Co raised shares of Ecolab from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $120.00 to $138.00 in a research report on Friday, May 26th. Finally, Morgan Stanley initiated coverage on shares of Ecolab in a research report on Tuesday. They issued an “equal weight” rating and a $140.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $134.20.
In other news, EVP Christophe Beck sold 6,959 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $127.11, for a total transaction of $884,558.49. Following the completion of the sale, the executive vice president now owns 42,419 shares in the company, valued at $5,391,879.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder William H. Gates III purchased 75,500 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were bought at an average price of $132.57 per share, with a total value of $10,009,035.00. The disclosure for this purchase can be found here. Insiders have sold 44,810 shares of company stock valued at $5,897,361 in the last 90 days. 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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