Simmons Bank Decreases Position in Ecolab Inc. (ECL)
Simmons Bank reduced its stake in shares of Ecolab Inc. (NYSE:ECL) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,589 shares of the basic materials company’s stock after selling 47 shares during the quarter. Simmons Bank’s holdings in Ecolab were worth $609,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. TCI Wealth Advisors Inc. boosted its holdings in shares of Ecolab by 4.8% during the second quarter. TCI Wealth Advisors Inc. now owns 763 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 35 shares during the period. JNBA Financial Advisors boosted its holdings 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 purchasing an additional 21 shares during the period. Harfst & Associates Inc. acquired a new stake in shares of Ecolab during the first quarter worth approximately $117,000. Atwood & Palmer Inc. boosted its holdings in shares of Ecolab by 2.9% during the second quarter. Atwood & Palmer Inc. now owns 892 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 25 shares during the period. Finally, Guardian Life Insurance Co. of America boosted its holdings 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 purchasing an additional 7 shares during the period. Institutional investors and hedge funds own 75.42% of the company’s stock.
Several analysts recently commented on ECL shares. Zacks Investment Research cut shares of Ecolab from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Canaccord Genuity lifted their target price on shares of Ecolab from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Deutsche Bank AG lifted their target price on shares of Ecolab from $132.00 to $134.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. UBS AG reiterated a “buy” rating and issued a $147.00 target price (up from $144.00) on shares of Ecolab in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $130.00 target price on shares of Ecolab in a research note on Thursday, August 3rd. Two investment 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 stock currently has an average rating of “Hold” and a consensus target price of $133.77.
In related news, major shareholder William H. Gates III purchased 75,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas W. Handley sold 7,397 shares of the firm’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 company insiders.
Shares of Ecolab Inc. (NYSE ECL) traded up 0.01% during mid-day trading on Monday, hitting $131.98. 103,668 shares of the stock were exchanged. The firm has a 50-day moving average price of $130.86 and a 200 day moving average price of $130.00. The company has a market capitalization of $38.19 billion, a PE ratio of 30.17 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 quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.01. Ecolab had a return on equity of 18.93% and a net margin of 9.66%. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the firm posted $1.08 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities research analysts expect that Ecolab Inc. will post $4.73 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Tuesday, September 19th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.12%. The ex-dividend date is Monday, September 18th. Ecolab’s payout ratio is 33.79%.
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.
Want to see what other hedge funds are holding ECL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ecolab Inc. (NYSE:ECL).
Receive News & Stock Ratings for Ecolab Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecolab Inc. and related stocks with our FREE daily email newsletter.