Cim LLC Lowers Stake in Ecolab Inc. (ECL)
Cim LLC cut its stake in shares of Ecolab Inc. (NYSE:ECL) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,746 shares of the basic materials company’s stock after selling 967 shares during the period. Ecolab comprises approximately 4.1% of Cim LLC’s investment portfolio, making the stock its 10th biggest position. Cim LLC’s holdings in Ecolab were worth $9,524,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in Ecolab by 60.0% during the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 800 shares of the basic materials company’s stock valued at $100,000 after acquiring an additional 300 shares during the last quarter. JNBA Financial Advisors boosted its position in Ecolab by 2.5% during the first quarter. JNBA Financial Advisors now owns 871 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 21 shares during the last quarter. Atwood & Palmer Inc. boosted its position in Ecolab by 2.9% during the second quarter. Atwood & Palmer Inc. now owns 892 shares of the basic materials company’s stock valued at $118,000 after acquiring an additional 25 shares during the last quarter. Harfst & Associates Inc. bought a new stake in Ecolab during the first quarter valued at $117,000. Finally, Guardian Life Insurance Co. of America boosted its position in 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 valued at $127,000 after acquiring an additional 7 shares during the last quarter. Institutional investors own 75.53% of the company’s stock.
ECL has been the topic of a number of research analyst reports. J P Morgan Chase & Co raised shares of Ecolab from a “neutral” rating to an “overweight” rating and upped their price target for the company from $120.00 to $138.00 in a research report on Friday, May 26th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $141.00 price target (up previously from $133.00) on shares of Ecolab in a research report on Friday, June 2nd. Zacks Investment Research cut shares of Ecolab from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Canaccord Genuity increased their price objective on shares of Ecolab from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, Deutsche Bank AG increased their price objective on shares of Ecolab from $132.00 to $134.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $133.57.
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In other Ecolab news, major shareholder William H. Gates III bought 75,500 shares of Ecolab stock in a transaction on Thursday, August 3rd. The stock was acquired at an average cost of $132.57 per share, with a total value of $10,009,035.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.49% of the stock is currently owned by corporate insiders.
Ecolab Inc. (NYSE:ECL) opened at 131.12 on Friday. The company has a market capitalization of $37.94 billion, a P/E ratio of 29.98 and a beta of 0.99. The stock’s 50 day moving average is $131.63 and its 200-day moving average is $129.15. Ecolab Inc. has a 52-week low of $110.65 and a 52-week high of $134.89.
Ecolab (NYSE:ECL) last released its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.01. Ecolab had a net margin of 9.66% and a return on equity of 18.93%. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the company earned $1.08 earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts predict that Ecolab Inc. will post $4.79 EPS for the current fiscal year.
The firm also recently announced 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 1.13%. Ecolab’s dividend payout ratio is currently 33.79%.
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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