Bessemer Group Inc. Cuts Position in Ecolab Inc. (NYSE:ECL)
Bessemer Group Inc. lessened its holdings in Ecolab Inc. (NYSE:ECL) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,788 shares of the basic materials company’s stock after selling 766 shares during the period. Bessemer Group Inc.’s holdings in Ecolab were worth $9,238,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in ECL. Permanens Capital L.P. purchased a new position in Ecolab in the first quarter valued at approximately $26,000. Liberty Wealth Management LLC purchased a new position in Ecolab in the fourth quarter valued at approximately $27,000. Advisory Alpha LLC purchased a new position in Ecolab in the first quarter valued at approximately $28,000. Private Ocean LLC purchased a new position in Ecolab in the first quarter valued at approximately $29,000. Finally, Brand Asset Management Group Inc. purchased a new position in Ecolab in the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.
Several equities research analysts have issued reports on ECL shares. UBS Group downgraded Advanced Disposal Services from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research report on Wednesday, May 1st. They noted that the move was a valuation call. BMO Capital Markets upgraded TMAC Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 2nd. Nomura set a $42.00 target price on General Motors and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Bank of America restated a “buy” rating and set a $105.00 target price (up previously from $100.00) on shares of Zendesk in a research report on Wednesday, May 1st. Finally, Argus increased their target price on Thermo Fisher Scientific from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $180.93.
Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.01. The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Ecolab had a net margin of 10.06% and a return on equity of 19.50%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share. On average, analysts anticipate that Ecolab Inc. will post 5.9 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th were issued a $0.46 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $1.84 annualized dividend and a dividend yield of 0.93%. Ecolab’s payout ratio is currently 35.05%.
In other news, Director Victoria Reich sold 1,500 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $199.25, for a total value of $298,875.00. Following the transaction, the director now owns 20,987 shares of the company’s stock, valued at $4,181,659.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Timothy P. Mulhere sold 10,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $198.17, for a total transaction of $1,981,700.00. Following the completion of the transaction, the executive vice president now directly owns 13,066 shares in the company, valued at approximately $2,589,289.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,519 shares of company stock worth $14,253,673. Insiders own 1.52% of the company’s stock.
Ecolab Company Profile
Ecolab Inc provides water, hygiene, and energy technologies and services worldwide. The company operates through Global Industrial, Global Institutional, Global Energy, and Other segments. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions primarily to industrial customers within the manufacturing, food and beverage processing, transportation, chemical, primary metals and mining, power generation, pulp and paper, pharmaceutical, and commercial laundry.
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