Landsberg Bennett & Dubbaneh LLC raised its position in shares of Ecolab Inc. (NYSE:ECL) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,812 shares of the basic materials company’s stock after purchasing an additional 339 shares during the period. Ecolab accounts for approximately 1.1% of Landsberg Bennett & Dubbaneh LLC’s holdings, making the stock its 22nd biggest position. Landsberg Bennett & Dubbaneh LLC’s holdings in Ecolab were worth $4,116,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Ecolab by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 22,709,178 shares of the basic materials company’s stock valued at $4,483,701,000 after purchasing an additional 419,611 shares during the period. BlackRock Inc. boosted its stake in Ecolab by 3.4% during the 2nd quarter. BlackRock Inc. now owns 17,657,493 shares of the basic materials company’s stock valued at $3,486,296,000 after purchasing an additional 578,662 shares during the period. Morgan Stanley boosted its stake in Ecolab by 251.6% during the 2nd quarter. Morgan Stanley now owns 7,383,606 shares of the basic materials company’s stock valued at $1,457,819,000 after purchasing an additional 5,283,861 shares during the period. Edgewood Management LLC lifted its stake in shares of Ecolab by 1.0% in the 2nd quarter. Edgewood Management LLC now owns 6,535,415 shares of the basic materials company’s stock worth $1,290,352,000 after acquiring an additional 64,560 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of Ecolab by 0.8% in the 2nd quarter. Wells Fargo & Company MN now owns 1,993,368 shares of the basic materials company’s stock worth $393,570,000 after acquiring an additional 16,768 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Darrell R. Brown sold 12,678 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 21,061 shares of the company’s stock, valued at $4,171,973.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alex N. Blanco sold 51,400 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $203.07, for a total transaction of $10,437,798.00. Following the sale, the executive vice president now directly owns 59,425 shares of the company’s stock, valued at $12,067,434.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,358 shares of company stock valued at $13,423,309. Company insiders own 1.52% of the company’s stock.
ECL stock traded up $1.53 on Friday, hitting $194.72. 63,336 shares of the company’s stock traded hands, compared to its average volume of 1,003,190. Ecolab Inc. has a 1-year low of $135.77 and a 1-year high of $209.87. The stock has a market cap of $54.57 billion, a price-to-earnings ratio of 37.09, a P/E/G ratio of 2.58 and a beta of 0.81. The stock has a fifty day moving average of $199.41 and a 200-day moving average of $192.61. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.72.
Ecolab (NYSE:ECL) last released its earnings results on Tuesday, July 30th. The basic materials company reported $1.42 EPS for the quarter, beating the 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 business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the business earned $1.27 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities research analysts anticipate that Ecolab Inc. will post 5.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.94%. The ex-dividend date is Monday, September 16th. Ecolab’s dividend payout ratio is presently 35.05%.
A number of brokerages have recently weighed in on ECL. UBS Group set a $202.00 price target on shares of Ecolab and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Credit Suisse Group set a $181.00 price target on shares of Ecolab and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Morgan Stanley upped their price target on shares of Ecolab from $140.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Canaccord Genuity upped their price target on shares of Ecolab from $198.00 to $222.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, ValuEngine lowered shares of Ecolab from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $193.14.
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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