CAPROCK Group Inc. Sells 193 Shares of Ecolab Inc. (ECL)
CAPROCK Group Inc. reduced its stake in shares of Ecolab Inc. (NYSE:ECL) by 7.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,253 shares of the basic materials company’s stock after selling 193 shares during the period. CAPROCK Group Inc.’s holdings in Ecolab were worth $300,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of ECL. State of Alaska Department of Revenue acquired a new stake in Ecolab during the first quarter valued at approximately $134,000. BNP Paribas Arbitrage SA raised its stake in Ecolab by 269.4% in the first quarter. BNP Paribas Arbitrage SA now owns 191,189 shares of the basic materials company’s stock valued at $23,964,000 after buying an additional 139,434 shares in the last quarter. State Street Corp raised its stake in Ecolab by 0.3% in the first quarter. State Street Corp now owns 11,935,943 shares of the basic materials company’s stock valued at $1,496,059,000 after buying an additional 31,277 shares in the last quarter. YHB Investment Advisors Inc. raised its stake in Ecolab by 0.6% in the first quarter. YHB Investment Advisors Inc. now owns 112,954 shares of the basic materials company’s stock valued at $14,581,000 after buying an additional 649 shares in the last quarter. Finally, Bell Bank raised its stake in Ecolab by 6.7% in the first quarter. Bell Bank now owns 4,706 shares of the basic materials company’s stock valued at $590,000 after buying an additional 297 shares in the last quarter. Institutional investors and hedge funds own 75.73% of the company’s stock.
Ecolab Inc. (ECL) opened at 130.23 on Friday. Ecolab Inc. has a 1-year low of $110.65 and a 1-year high of $134.89. The company’s 50 day moving average is $132.10 and its 200 day moving average is $128.08. The company has a market cap of $37.69 billion, a price-to-earnings ratio of 29.77 and a beta of 0.98.
Ecolab (NYSE:ECL) last issued its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts forecast that Ecolab Inc. will post $4.80 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Tuesday, September 19th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $1.48 dividend on an annualized basis and a yield of 1.14%. Ecolab’s payout ratio is currently 33.79%.
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ECL has been the subject of several recent research reports. Zacks Investment Research lowered shares of Ecolab from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $141.00 price target (up previously from $133.00) on shares of Ecolab in a report on Friday, June 2nd. Morgan Stanley initiated coverage on shares of Ecolab in a report on Tuesday. They issued an “equal weight” rating and a $140.00 price target for the company. Deutsche Bank AG boosted their price target on shares of Ecolab from $132.00 to $134.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Finally, Credit Suisse Group set a $128.00 price target on shares of Ecolab and gave the company a “hold” rating in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $134.20.
In other Ecolab news, SVP Bruno Lavandier sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,191,265.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder William H. Gates III acquired 75,500 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of $132.57 per share, for a total transaction of $10,009,035.00. The disclosure for this purchase can be found here. In the last three months, insiders have sold 37,851 shares of company stock worth $5,012,802. 1.49% of the stock is owned by corporate insiders.
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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