Investment House LLC Reduced Stake in Ecolab Inc. (ECL)

Investment House LLC Reduced Stake in Ecolab Inc. (ECL)

Investment House LLC lessened its stake in shares of Ecolab Inc. (NYSE:ECL) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 79,450 shares of the basic materials company’s stock after selling 5,335 shares during the period. Ecolab comprises 1.3% of Investment House LLC’s investment portfolio, making the stock its 19th largest holding. Investment House LLC’s holdings in Ecolab were worth $12,456,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Atria Investments LLC grew its stake in shares of Ecolab by 51.3% in the 3rd quarter. Atria Investments LLC now owns 5,788 shares of the basic materials company’s stock valued at $907,000 after buying an additional 1,963 shares in the last quarter. Franklin Street Advisors Inc. NC bought a new stake in shares of Ecolab in the 3rd quarter valued at approximately $209,000. Smithbridge Asset Management Inc. DE grew its stake in shares of Ecolab by 4.0% in the 3rd quarter. Smithbridge Asset Management Inc. DE now owns 21,667 shares of the basic materials company’s stock valued at $3,397,000 after buying an additional 840 shares in the last quarter. Barometer Capital Management Inc. bought a new stake in shares of Ecolab in the 3rd quarter valued at approximately $7,431,000. Finally, Old Port Advisors bought a new stake in shares of Ecolab in the 2nd quarter valued at approximately $461,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

In other Ecolab news, Director David Maclennan acquired 500 shares of Ecolab stock in a transaction dated Thursday, August 2nd. The stock was bought at an average cost of $146.40 per share, with a total value of $73,200.00. Following the completion of the transaction, the director now owns 2,128 shares of the company’s stock, valued at $311,539.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael A. Hickey sold 32,468 shares of the stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $155.80, for a total value of $5,058,514.40. The disclosure for this sale can be found here. Insiders sold 114,885 shares of company stock valued at $17,369,786 over the last three months. 1.50% of the stock is owned by company insiders.

Ecolab stock traded down $1.77 during trading hours on Tuesday, reaching $155.60. 6,990 shares of the company were exchanged, compared to its average volume of 1,180,804. The stock has a market capitalization of $45.29 billion, a P/E ratio of 33.11, a PEG ratio of 2.28 and a beta of 0.95. The company has a quick ratio of 0.84, a current ratio of 1.27 and a debt-to-equity ratio of 0.80. Ecolab Inc. has a 12 month low of $125.74 and a 12 month high of $159.92.

Ecolab (NYSE:ECL) last announced its earnings results on Tuesday, July 31st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.27. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Ecolab had a return on equity of 18.96% and a net margin of 10.83%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.13 earnings per share. Sell-side analysts anticipate that Ecolab Inc. will post 5.37 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Tuesday, September 18th will be given a $0.41 dividend. The ex-dividend date of this dividend is Monday, September 17th. This represents a $1.64 annualized dividend and a dividend yield of 1.05%. Ecolab’s dividend payout ratio is 34.97%.

Several brokerages recently commented on ECL. UBS Group boosted their price target on Ecolab from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, October 2nd. ValuEngine raised Ecolab from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Oppenheimer boosted their price target on Ecolab from $153.00 to $156.00 and gave the company an “outperform” rating in a research note on Tuesday, August 7th. Nomura boosted their price target on Ecolab from $146.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, August 13th. Finally, Zacks Investment Research raised Ecolab from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $151.13.

Ecolab Company Profile

Ecolab Inc provides water, hygiene, and energy technologies and services for customers worldwide. The company operates through Global Industrial, Global Institutional, and Global Energy segments. The Global Industrial segment provides water treatment and process applications, and cleaning and sanitizing solutions primarily to large industrial customers within the manufacturing, food and beverage processing, chemical, mining and primary metals, power generation, pulp and paper, and commercial laundry industries.

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