FUKOKU MUTUAL LIFE INSURANCE Co Maintains Stake in Ecolab Inc. (ECL)
FUKOKU MUTUAL LIFE INSURANCE Co maintained its stake in shares of Ecolab Inc. (NYSE:ECL) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 800 shares of the basic materials company’s stock at the end of the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Ecolab were worth $106,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the business. Guardian Life Insurance Co. of America increased its stake in Ecolab by 0.7% in 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 purchasing an additional 7 shares during the last quarter. Rench Wealth Management Inc. increased its stake in Ecolab by 0.3% in the first quarter. Rench Wealth Management Inc. now owns 2,995 shares of the basic materials company’s stock valued at $375,000 after purchasing an additional 9 shares during the last quarter. Ironwood Investment Management LLC increased its stake in Ecolab by 0.7% in the second quarter. Ironwood Investment Management LLC now owns 2,708 shares of the basic materials company’s stock valued at $359,000 after purchasing an additional 19 shares during the last quarter. JNBA Financial Advisors increased its stake in Ecolab by 2.5% in the first quarter. JNBA Financial Advisors now owns 871 shares of the basic materials company’s stock valued at $109,000 after purchasing an additional 21 shares during the last quarter. Finally, Atwood & Palmer Inc. increased its stake in Ecolab by 2.9% in the second quarter. Atwood & Palmer Inc. now owns 892 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 75.42% of the company’s stock.
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Ecolab Inc. (NYSE:ECL) traded up 0.0593% during trading on Thursday, reaching $130.8375. 52,339 shares of the company were exchanged. The firm’s 50 day moving average is $130.83 and its 200 day moving average is $129.94. The stock has a market capitalization of $37.86 billion, a PE ratio of 29.9125 and a beta of 0.98. Ecolab Inc. has a 52-week low of $110.65 and a 52-week high of $134.89.
Ecolab (NYSE:ECL) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.01. The business had revenue of $3.46 billion for 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% compared to the same quarter last year. During the same period in the prior year, the company posted $1.08 EPS. Analysts expect that Ecolab Inc. will post $4.73 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Tuesday, September 19th will be paid 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 payout ratio is currently 33.79%.
In related news, major shareholder William H. Gates III acquired 75,500 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average cost of $132.57 per share, for a total transaction of $10,009,035.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Thomas W. Handley sold 7,397 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $130.63, for a total value of $966,270.11. The disclosure for this sale can be found here. 1.49% of the stock is owned by corporate insiders.
Several brokerages have commented on ECL. Zacks Investment Research lowered shares of Ecolab from a “hold” rating to a “sell” rating in a research note on Tuesday. UBS AG reiterated a “buy” rating and issued a $147.00 price target (up from $144.00) on shares of Ecolab in a research note on Tuesday, August 8th. BidaskClub lowered shares of Ecolab from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Jefferies Group LLC restated a “hold” rating and set a $130.00 target price on shares of Ecolab in a research report on Wednesday, August 16th. Finally, Stifel Nicolaus restated a “hold” rating and set a $130.00 target price on shares of Ecolab in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $133.77.
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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