Prudential Financial Inc. Has $48.55 Million Stake in Ecolab Inc. (ECL)
Prudential Financial Inc. cut its stake in shares of Ecolab Inc. (NYSE:ECL) by 1.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 365,722 shares of the basic materials company’s stock after selling 5,366 shares during the quarter. Prudential Financial Inc. owned approximately 0.13% of Ecolab worth $48,550,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. FUKOKU MUTUAL LIFE INSURANCE Co grew its position in shares of Ecolab by 60.0% during the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 800 shares of the basic materials company’s stock worth $100,000 after buying an additional 300 shares in the last quarter. JNBA Financial Advisors grew its position in shares of Ecolab by 2.5% during the first quarter. JNBA Financial Advisors now owns 871 shares of the basic materials company’s stock worth $109,000 after buying an additional 21 shares in the last quarter. Harfst & Associates Inc. acquired a new position in shares of Ecolab during the first quarter worth about $117,000. Guardian Life Insurance Co. of America grew its position in shares of Ecolab by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,012 shares of the basic materials company’s stock worth $127,000 after buying an additional 7 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Ecolab during the first quarter worth about $134,000. 75.53% of the stock is owned by institutional investors and hedge funds.
Shares of Ecolab Inc. (ECL) opened at 132.85 on Monday. The stock has a market cap of $38.44 billion, a PE ratio of 30.37 and a beta of 0.99. The firm has a 50-day moving average price of $131.75 and a 200-day moving average price of $128.91. Ecolab Inc. has a 52 week low of $110.65 and a 52 week high of $134.89.
Ecolab (NYSE:ECL) last issued its earnings results on Tuesday, August 1st. The basic materials company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.12 by $0.01. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.40 billion. Ecolab had a return on equity of 18.93% and a net margin of 9.66%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 EPS. On average, analysts forecast that Ecolab Inc. will post $4.80 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Tuesday, September 19th will be given a $0.37 dividend. The ex-dividend date of this dividend is Monday, September 18th. This represents a $1.48 annualized dividend and a dividend yield of 1.11%. Ecolab’s payout ratio is 33.79%.
In other news, SVP Bruno Lavandier sold 1,000 shares of Ecolab stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $133.52, for a total value of $133,520.00. Following the completion of the transaction, the senior vice president now owns 8,922 shares in the company, valued at approximately $1,191,265.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder William H. Gates III bought 75,500 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was purchased 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. 1.49% of the stock is currently owned by company insiders.
A number of brokerages have recently commented on ECL. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $141.00 price objective (up from $133.00) on shares of Ecolab in a research report on Friday, June 2nd. Credit Suisse Group set a $128.00 price target on Ecolab and gave the company a “hold” rating in a report on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $130.00 price target on shares of Ecolab in a report on Thursday, August 3rd. Zacks Investment Research downgraded Ecolab from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Canaccord Genuity upped their price target on Ecolab from $135.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $133.57.
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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