Voya Investment Management LLC Increases Position in Ecolab Inc. (ECL)
Voya Investment Management LLC lifted its stake in shares of Ecolab Inc. (NYSE:ECL) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,076 shares of the basic materials company’s stock after purchasing an additional 1,533 shares during the quarter. Voya Investment Management LLC’s holdings in Ecolab were worth $13,550,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Ecolab by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 20,842,027 shares of the basic materials company’s stock valued at $2,766,780,000 after purchasing an additional 387,804 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Ecolab by 2.0% during the 2nd quarter. BlackRock Inc. now owns 15,325,707 shares of the basic materials company’s stock valued at $2,034,488,000 after purchasing an additional 293,303 shares during the last quarter. State Street Corp grew its holdings in shares of Ecolab by 0.3% during the 1st quarter. State Street Corp now owns 11,935,943 shares of the basic materials company’s stock valued at $1,496,059,000 after purchasing an additional 31,277 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of Ecolab by 6.8% during the 1st quarter. Clearbridge Investments LLC now owns 5,012,431 shares of the basic materials company’s stock valued at $628,258,000 after purchasing an additional 320,253 shares during the last quarter. Finally, C WorldWide Group Holding A S grew its holdings in shares of Ecolab by 8.3% during the 2nd quarter. C WorldWide Group Holding A S now owns 3,704,233 shares of the basic materials company’s stock valued at $491,737,000 after purchasing an additional 285,258 shares during the last quarter. 75.42% of the stock is currently owned by institutional investors.
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Ecolab Inc. (NYSE ECL) opened at 130.76 on Thursday. Ecolab Inc. has a 12 month low of $110.65 and a 12 month high of $134.89. The firm has a market cap of $37.84 billion, a P/E ratio of 29.89 and a beta of 0.98. The stock has a 50 day moving average of $130.83 and a 200-day moving average of $129.94.
Ecolab (NYSE:ECL) last released its quarterly earnings results 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. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Ecolab had a net margin of 9.66% and a return on equity of 18.93%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 earnings per share. Equities research analysts predict that Ecolab Inc. will post $4.73 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Tuesday, September 19th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Monday, September 18th. Ecolab’s dividend payout ratio (DPR) is currently 33.79%.
Several equities research analysts recently issued reports on the stock. Credit Suisse Group reaffirmed a “hold” rating on shares of Ecolab in a report on Wednesday, September 6th. Stifel Nicolaus reaffirmed a “hold” rating and set a $130.00 price target on shares of Ecolab in a report on Thursday, August 3rd. Zacks Investment Research lowered shares of Ecolab from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Canaccord Genuity lifted their price target on shares of Ecolab from $135.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, BidaskClub raised shares of Ecolab from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $133.77.
In related news, insider Thomas W. Handley sold 7,397 shares of Ecolab stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $130.63, for a total value of $966,270.11. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder William H. Gates III purchased 75,500 shares of the business’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 disclosure for this purchase can be found here. Insiders own 1.49% of the company’s stock.
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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