Alta Capital Management LLC lessened its holdings in shares of Ecolab Inc. (NYSE:ECL) by 96.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,785 shares of the basic materials company’s stock after selling 140,892 shares during the quarter. Alta Capital Management LLC’s holdings in Ecolab were worth $1,145,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of ECL. Certified Advisory Corp bought a new position in Ecolab during the second quarter valued at approximately $25,000. Krane Funds Advisors LLC bought a new position in Ecolab during the second quarter valued at approximately $25,000. Next Capital Management LLC bought a new position in Ecolab during the second quarter valued at approximately $27,000. Putnam FL Investment Management Co. bought a new position in Ecolab during the second quarter valued at approximately $28,000. Finally, Focused Wealth Management Inc bought a new position in Ecolab during the second quarter valued at approximately $30,000. 75.95% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Darrell R. Brown sold 12,678 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $198.09, for a total transaction of $2,511,385.02. Following the transaction, the executive vice president now owns 21,061 shares of the company’s stock, valued at $4,171,973.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Catelan Leanne bought 50,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were bought at an average cost of $1.16 per share, for a total transaction of $58,000.00. Insiders have sold 66,358 shares of company stock worth $13,423,309 in the last ninety days. 1.52% of the stock is currently owned by insiders.
Several brokerages recently weighed in on ECL. ValuEngine lowered shares of Ecolab from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. UBS Group set a $202.00 price target on shares of Ecolab and gave the company a “hold” rating in a research report on Wednesday, July 31st. BMO Capital Markets lifted their price target on shares of Ecolab from $180.00 to $208.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. Nomura lifted their price target on shares of Ecolab from $208.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Citigroup lifted their price target on shares of Ecolab from $190.00 to $206.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $193.14.
NYSE:ECL opened at $188.40 on Wednesday. Ecolab Inc. has a 12 month low of $135.77 and a 12 month high of $209.87. The firm has a market cap of $55.14 billion, a price-to-earnings ratio of 34.71, a P/E/G ratio of 2.60 and a beta of 0.81. The company has a quick ratio of 0.78, a current ratio of 1.18 and a debt-to-equity ratio of 0.72. The company’s 50 day moving average is $196.78 and its 200-day moving average is $193.67.
Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.01. Ecolab had a net margin of 10.12% and a return on equity of 19.81%. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the firm posted $1.27 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts predict that Ecolab Inc. will post 5.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Monday, September 16th. Ecolab’s dividend payout ratio (DPR) is currently 35.05%.
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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