16,955 Shares in Ecolab Inc. (ECL) Acquired by Gs Investments Inc.
Gs Investments Inc. purchased a new stake in Ecolab Inc. (NYSE:ECL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 16,955 shares of the basic materials company’s stock, valued at approximately $2,251,000. Ecolab accounts for about 1.7% of Gs Investments Inc.’s holdings, making the stock its 19th biggest position.
A number of other institutional investors have also made changes to their positions in ECL. TCI Wealth Advisors Inc. increased its holdings in Ecolab by 4.8% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 763 shares of the basic materials company’s stock valued at $101,000 after buying an additional 35 shares during the period. Atlantic Trust LLC bought a new stake in Ecolab in the 2nd quarter valued at $106,000. JNBA Financial Advisors increased its holdings in Ecolab by 2.5% in the 1st quarter. JNBA Financial Advisors now owns 871 shares of the basic materials company’s stock valued at $109,000 after buying an additional 21 shares during the period. IHT Wealth Management LLC increased its holdings in Ecolab by 4.9% in the 2nd quarter. IHT Wealth Management LLC now owns 811 shares of the basic materials company’s stock valued at $116,000 after buying an additional 38 shares during the period. Finally, Harfst & Associates Inc. bought a new stake in Ecolab in the 1st quarter valued at $117,000. 75.39% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on ECL. UBS AG reissued a “buy” rating and issued a $147.00 price target (up previously from $144.00) on shares of Ecolab in a report on Tuesday, August 8th. BidaskClub lowered shares of Ecolab from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Robert W. Baird reaffirmed a “hold” rating and issued a $140.00 target price on shares of Ecolab in a report on Thursday, October 12th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $130.00 target price on shares of Ecolab in a report on Wednesday, August 16th. Finally, Zacks Investment Research lowered shares of Ecolab from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $134.21.
In other Ecolab news, major shareholder William H. Gates III bought 75,500 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were purchased at an average price of $132.57 per share, for a total transaction of $10,009,035.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas W. Handley sold 7,397 shares of Ecolab stock in a transaction dated Thursday, September 14th. The shares were 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. Insiders own 1.49% of the company’s stock.
Shares of Ecolab Inc. (ECL) traded up 0.21% on Friday, reaching $132.02. 101,545 shares of the company traded hands. The firm’s 50 day moving average is $131.39 and its 200 day moving average is $130.53. Ecolab Inc. has a one year low of $110.65 and a one year high of $134.89. The company has a market capitalization of $38.20 billion, a P/E ratio of 30.18 and a beta of 0.98.
Ecolab (NYSE:ECL) last released its earnings results on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the business posted $1.08 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts expect that Ecolab Inc. will post $4.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Tuesday, September 19th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Monday, September 18th. Ecolab’s dividend payout ratio is presently 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.
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