Elmwood Wealth Management Inc. acquired a new stake in shares of Ecolab (NYSE:ECL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,550 shares of the basic materials company’s stock, valued at approximately $761,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Ecolab by 1.5% during the fourth quarter. BlackRock Inc. now owns 15,713,077 shares of the basic materials company’s stock valued at $2,108,380,000 after buying an additional 226,031 shares during the last quarter. Barings LLC bought a new position in shares of Ecolab during the fourth quarter valued at about $2,075,000. Ashburton Jersey Ltd lifted its position in shares of Ecolab by 302.9% during the fourth quarter. Ashburton Jersey Ltd now owns 1,370 shares of the basic materials company’s stock valued at $184,000 after purchasing an additional 1,030 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Ecolab during the fourth quarter valued at about $9,489,000. Finally, Captrust Financial Advisors bought a new position in shares of Ecolab during the fourth quarter valued at about $129,000. Hedge funds and other institutional investors own 76.21% of the company’s stock.
A number of research analysts recently weighed in on ECL shares. Zacks Investment Research raised shares of Ecolab from a “hold” rating to a “buy” rating and set a $164.00 price target on the stock in a research report on Wednesday, April 25th. ValuEngine raised shares of Ecolab from a “hold” rating to a “buy” rating in a research report on Tuesday, April 17th. BMO Capital Markets started coverage on shares of Ecolab in a research report on Tuesday, March 27th. They set an “outperform” rating and a $151.00 price target on the stock. Boenning Scattergood reissued a “buy” rating on shares of Ecolab in a research report on Monday, January 22nd. Finally, Canaccord Genuity set a $155.00 price target on shares of Ecolab and gave the company a “buy” rating in a research report on Tuesday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. Ecolab presently has an average rating of “Hold” and an average price target of $143.94.
Ecolab (NYSE:ECL) last announced its quarterly earnings data on Tuesday, May 1st. The basic materials company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.38 billion. Ecolab had a net margin of 10.62% and a return on equity of 19.01%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share. research analysts predict that Ecolab will post 5.4 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Tuesday, June 19th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 18th. This represents a $1.64 annualized dividend and a dividend yield of 1.11%. Ecolab’s payout ratio is 34.97%.
In other news, EVP Roberto Inchaustegui sold 4,800 shares of Ecolab stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $136.04, for a total value of $652,992.00. Following the completion of the transaction, the executive vice president now owns 27,402 shares in the company, valued at $3,727,768.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder William H. Gates III bought 113,768 shares of Ecolab stock in a transaction dated Wednesday, March 14th. The stock was acquired at an average price of $136.89 per share, with a total value of $15,573,701.52. The disclosure for this purchase can be found here. Insiders bought 1,848,529 shares of company stock valued at $248,579,565 in the last quarter. Corporate insiders own 1.50% of the company’s stock.
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.
Receive News & Ratings for Ecolab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecolab and related companies with MarketBeat.com's FREE daily email newsletter.