CGOV Asset Management Boosts Stake in Ecolab Inc. (ECL)
CGOV Asset Management lifted its holdings in Ecolab Inc. (NYSE:ECL) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 394,629 shares of the basic materials company’s stock after buying an additional 2,695 shares during the period. Ecolab comprises 2.5% of CGOV Asset Management’s holdings, making the stock its 19th largest holding. CGOV Asset Management’s holdings in Ecolab were worth $66,282,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. TCI Wealth Advisors Inc. increased its holdings in shares of Ecolab by 4.8% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 763 shares of the basic materials company’s stock worth $101,000 after buying an additional 35 shares during the last quarter. Atlantic Trust LLC bought a new stake in shares of Ecolab in the 2nd quarter worth about $106,000. IHT Wealth Management LLC increased its holdings in shares of Ecolab by 4.9% in the 2nd quarter. IHT Wealth Management LLC now owns 811 shares of the basic materials company’s stock worth $116,000 after buying an additional 38 shares during the last quarter. Harfst & Associates Inc. increased its holdings in shares of Ecolab by 13.2% in the 2nd quarter. Harfst & Associates Inc. now owns 1,057 shares of the basic materials company’s stock worth $140,000 after buying an additional 123 shares during the last quarter. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Ecolab in the 2nd quarter worth about $184,000. Hedge funds and other institutional investors own 76.55% of the company’s stock.
A number of analysts have recently weighed in on ECL shares. Zacks Investment Research upgraded shares of Ecolab from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Barclays reaffirmed a “buy” rating and set a $150.00 price target on shares of Ecolab in a research note on Wednesday, December 27th. Royal Bank of Canada lifted their price target on shares of Ecolab from $137.00 to $143.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 7th. Jefferies Group lifted their price target on shares of Ecolab from $130.00 to $140.00 and gave the stock a “hold” rating in a research note on Wednesday, November 1st. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $140.00 price target on shares of Ecolab in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $137.21.
Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.01. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Ecolab had a net margin of 9.67% and a return on equity of 19.05%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 EPS. equities research analysts predict that Ecolab Inc. will post 4.7 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, December 19th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.21%. This is a boost from Ecolab’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 18th. Ecolab’s payout ratio is 33.33%.
In related news, Director David Maclennan acquired 450 shares of the stock in a transaction on Monday, November 6th. The stock was bought at an average cost of $131.77 per share, with a total value of $59,296.50. Following the transaction, the director now directly owns 1,514 shares in the company, valued at $199,499.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael A. Hickey sold 19,300 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $137.54, for a total transaction of $2,654,522.00. Following the completion of the sale, the executive vice president now directly owns 43,262 shares of the company’s stock, valued at $5,950,255.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,446 shares of company stock valued at $7,886,307. 1.49% of the stock is owned by corporate insiders.
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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