Fiduciary Financial Services of The Southwest Inc. TX Has $1.03 Million Stake in Ecolab Inc. (ECL)
Fiduciary Financial Services of The Southwest Inc. TX raised its stake in Ecolab Inc. (NYSE:ECL) by 0.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,781 shares of the basic materials company’s stock after buying an additional 68 shares during the period. Fiduciary Financial Services of The Southwest Inc. TX’s holdings in Ecolab were worth $1,033,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of ECL. CGOV Asset Management boosted its stake in shares of Ecolab by 5.3% in the first quarter. CGOV Asset Management now owns 540,525 shares of the basic materials company’s stock valued at $90,256,000 after buying an additional 27,135 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Ecolab during the first quarter worth about $134,000. First Manhattan Co. boosted its position in shares of Ecolab by 1.6% in the first quarter. First Manhattan Co. now owns 4,510 shares of the basic materials company’s stock worth $548,000 after buying an additional 73 shares in the last quarter. Intermede Investment Partners Ltd boosted its position in shares of Ecolab by 7.6% in the first quarter. Intermede Investment Partners Ltd now owns 215,880 shares of the basic materials company’s stock worth $27,058,000 after buying an additional 15,214 shares in the last quarter. Finally, Korea Investment CORP boosted its position in shares of Ecolab by 180.0% in the first quarter. Korea Investment CORP now owns 67,507 shares of the basic materials company’s stock worth $8,461,000 after buying an additional 43,397 shares in the last quarter. Institutional investors own 75.53% of the company’s stock.
Ecolab Inc. (NYSE ECL) opened at 131.04 on Monday. The stock has a 50 day moving average of $131.81 and a 200 day moving average of $128.52. The firm has a market cap of $37.92 billion, a PE ratio of 29.96 and a beta of 0.98. Ecolab Inc. has a 12-month low of $110.65 and a 12-month high of $134.89.
Ecolab (NYSE:ECL) last announced its earnings results on Tuesday, August 1st. The basic materials company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.40 billion. Ecolab had a return on equity of 18.93% and a net margin of 9.66%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 earnings per share. On average, equities research analysts anticipate that Ecolab Inc. will post $4.80 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors 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 dividend yield of 1.13%. Ecolab’s dividend payout ratio is presently 33.79%.
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A number of research analysts recently issued reports on ECL shares. Canaccord Genuity restated a “buy” rating and set a $135.00 price objective on shares of Ecolab in a report on Monday, May 1st. J P Morgan Chase & Co upgraded shares of Ecolab from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $120.00 to $138.00 in a report on Friday, May 26th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $141.00 price objective (up previously from $133.00) on shares of Ecolab in a report on Friday, June 2nd. Zacks Investment Research cut shares of Ecolab from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Deutsche Bank AG boosted their price objective on shares of Ecolab from $132.00 to $134.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Ecolab presently has a consensus rating of “Hold” and a consensus target price of $133.57.
In other Ecolab news, major shareholder William H. Gates III bought 75,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was bought at an average price of $132.57 per share, for a total transaction of $10,009,035.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael A. Hickey sold 13,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $131.30, for a total value of $1,798,810.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,851 shares of company stock valued at $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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