Alpine Woods Capital Investors LLC boosted its holdings in shares of Ecolab Inc. (NYSE:ECL) by 54.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,937 shares of the basic materials company’s stock after acquiring an additional 1,737 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Ecolab were worth $872,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Everence Capital Management Inc. lifted its holdings in Ecolab by 4.4% during the first quarter. Everence Capital Management Inc. now owns 10,332 shares of the basic materials company’s stock worth $1,824,000 after acquiring an additional 434 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Ecolab by 3.4% in the 1st quarter. CIBC Asset Management Inc now owns 26,797 shares of the basic materials company’s stock valued at $4,731,000 after purchasing an additional 877 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Ecolab by 1.1% in the 1st quarter. Teacher Retirement System of Texas now owns 255,316 shares of the basic materials company’s stock valued at $45,073,000 after purchasing an additional 2,768 shares during the period. Private Ocean LLC acquired a new stake in shares of Ecolab in the 1st quarter valued at about $29,000. Finally, Toronto Dominion Bank raised its stake in shares of Ecolab by 14.6% in the 1st quarter. Toronto Dominion Bank now owns 170,699 shares of the basic materials company’s stock valued at $30,127,000 after purchasing an additional 21,794 shares during the period. Hedge funds and other institutional investors own 76.32% of the company’s stock.
Several analysts have issued reports on ECL shares. Robert W. Baird set a $166.00 price target on Ecolab and gave the company a “hold” rating in a research note on Wednesday, February 20th. Zacks Investment Research downgraded Ecolab from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Bank of America reissued a “buy” rating and issued a $200.00 price target (up previously from $178.00) on shares of Ecolab in a research note on Wednesday, May 1st. Edward Jones downgraded Ecolab from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Finally, Boenning Scattergood reissued a “buy” rating and issued a $210.00 price target on shares of Ecolab in a research note on Tuesday, February 5th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $180.93.
Ecolab (NYSE:ECL) last released its earnings results on Tuesday, April 30th. The basic materials company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.57 billion. Ecolab had a return on equity of 19.50% and a net margin of 10.06%. Ecolab’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. On average, analysts anticipate that Ecolab Inc. will post 5.91 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, June 18th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Monday, June 17th. Ecolab’s dividend payout ratio is currently 35.05%.
In related news, EVP Jill S. Wyant sold 29,300 shares of Ecolab stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $179.14, for a total value of $5,248,802.00. Following the sale, the executive vice president now owns 34,718 shares of the company’s stock, valued at $6,219,382.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy P. Mulhere sold 11,600 shares of Ecolab stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $174.39, for a total value of $2,022,924.00. Following the completion of the sale, the executive vice president now directly owns 34,666 shares in the company, valued at approximately $6,045,403.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 335,758 shares of company stock worth $57,738,346. 1.52% of the stock is owned by company insiders.
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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