Ecolab Inc. (NYSE:ECL) Shares Sold by State of Tennessee Treasury Department
State of Tennessee Treasury Department reduced its position in shares of Ecolab Inc. (NYSE:ECL) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,959 shares of the basic materials company’s stock after selling 783 shares during the period. State of Tennessee Treasury Department’s holdings in Ecolab were worth $9,188,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of ECL. Victory Capital Management Inc. increased its position in shares of Ecolab by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 124,557 shares of the basic materials company’s stock worth $24,038,000 after purchasing an additional 2,251 shares in the last quarter. Martingale Asset Management L P raised its position in shares of Ecolab by 3.1% during the 4th quarter. Martingale Asset Management L P now owns 46,689 shares of the basic materials company’s stock worth $9,012,000 after purchasing an additional 1,400 shares during the last quarter. National Asset Management Inc. raised its position in shares of Ecolab by 10.0% during the 4th quarter. National Asset Management Inc. now owns 3,755 shares of the basic materials company’s stock worth $727,000 after purchasing an additional 342 shares during the last quarter. Duality Advisers LP raised its position in shares of Ecolab by 294.3% during the 4th quarter. Duality Advisers LP now owns 57,336 shares of the basic materials company’s stock worth $11,065,000 after purchasing an additional 42,796 shares during the last quarter. Finally, Busey Wealth Management acquired a new position in shares of Ecolab during the 4th quarter worth approximately $44,000. Institutional investors own 74.24% of the company’s stock.
Several brokerages have weighed in on ECL. Morgan Stanley cut their price target on Ecolab from $205.00 to $170.00 and set an “equal weight” rating for the company in a report on Monday, March 30th. BMO Capital Markets boosted their price target on Ecolab from $171.00 to $177.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th. Credit Suisse Group reiterated a “hold” rating and issued a $175.00 price target on shares of Ecolab in a report on Thursday, April 2nd. Cfra boosted their price objective on shares of Ecolab from $170.00 to $197.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. cut shares of Ecolab from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $200.00 to $152.00 in a research note on Tuesday, March 17th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $188.15.
NYSE:ECL traded down $3.28 on Friday, reaching $192.75. The stock had a trading volume of 276,935 shares, compared to its average volume of 9,128,471. The stock has a market cap of $56.88 billion, a P/E ratio of 37.06, a price-to-earnings-growth ratio of 4.40 and a beta of 1.01. The company has a 50-day moving average of $205.72 and a 200 day moving average of $190.62. The company has a current ratio of 1.51, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. Ecolab Inc. has a 12-month low of $124.60 and a 12-month high of $231.36.
Ecolab (NYSE:ECL) last issued its earnings results on Tuesday, April 28th. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.07. The business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.49 billion. Ecolab had a net margin of 10.32% and a return on equity of 20.12%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 EPS. On average, equities analysts predict that Ecolab Inc. will post 4.8 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 16th will be paid a $0.47 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.98%. Ecolab’s dividend payout ratio (DPR) is presently 32.30%.
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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