OLD National Bancorp IN increased its holdings in Ecolab Inc. (NYSE:ECL) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,161 shares of the basic materials company’s stock after purchasing an additional 756 shares during the quarter. OLD National Bancorp IN’s holdings in Ecolab were worth $2,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Comerica Securities Inc. boosted its position in Ecolab by 75.7% during the 1st quarter. Comerica Securities Inc. now owns 4,629 shares of the basic materials company’s stock valued at $580,000 after acquiring an additional 1,995 shares in the last quarter. Papp L Roy & Associates lifted its holdings in shares of Ecolab by 4.1% during the first quarter. Papp L Roy & Associates now owns 27,778 shares of the basic materials company’s stock valued at $3,482,000 after purchasing an additional 1,091 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Ecolab by 19.3% during the first quarter. Alliancebernstein L.P. now owns 3,555,051 shares of the basic materials company’s stock valued at $445,590,000 after purchasing an additional 574,200 shares during the last quarter. AXA lifted its holdings in shares of Ecolab by 38.6% during the first quarter. AXA now owns 1,406,156 shares of the basic materials company’s stock valued at $176,247,000 after purchasing an additional 391,686 shares during the last quarter. Finally, Kings Point Capital Management lifted its holdings in shares of Ecolab by 19.2% during the first quarter. Kings Point Capital Management now owns 10,685 shares of the basic materials company’s stock valued at $1,339,000 after purchasing an additional 1,723 shares during the last quarter. 75.31% of the stock is currently owned by institutional investors.
Ecolab Inc. (NYSE:ECL) opened at 129.655 on Wednesday. The company’s 50 day moving average is $131.45 and its 200 day moving average is $130.96. The stock has a market cap of $37.52 billion, a PE ratio of 29.642 and a beta of 0.98. Ecolab Inc. has a one year low of $110.65 and a one year high of $134.89.
Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.36 by $0.01. Ecolab had a net margin of 9.66% and a return on equity of 18.93%. The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. Ecolab’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities research analysts expect that Ecolab Inc. will post $4.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Tuesday, September 19th were given a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 18th. This represents a $1.48 annualized dividend and a yield of 1.13%. Ecolab’s dividend payout ratio (DPR) is 33.79%.
Several equities analysts have recently issued reports on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $140.00 target price on shares of Ecolab in a report on Wednesday. Robert W. Baird restated a “hold” rating and issued a $140.00 price objective on shares of Ecolab in a report on Thursday, October 12th. Zacks Investment Research downgraded shares of Ecolab from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Instinet reaffirmed a “neutral” rating and issued a $117.00 target price (down previously from $120.00) on shares of Ecolab in a research report on Tuesday, September 12th. Finally, Nomura reaffirmed a “hold” rating and issued a $117.00 target price (down previously from $120.00) on shares of Ecolab in a research report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $134.93.
In related news, insider Thomas W. Handley sold 7,397 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $130.63, for a total value of $966,270.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder William H. Gates III purchased 75,500 shares of Ecolab stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average price of $132.57 per share, with a total value of $10,009,035.00. The disclosure for this purchase can be found here. 1.49% of the stock is owned by corporate insiders.
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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