Mendel Money Management purchased a new position in Ecolab Inc. (NYSE:ECL) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,089 shares of the basic materials company’s stock, valued at approximately $3,777,000. Ecolab makes up approximately 3.7% of Mendel Money Management’s portfolio, making the stock its 12th biggest holding.
Other institutional investors have also made changes to their positions in the company. Braun Bostich & Associates Inc. increased its holdings in shares of Ecolab by 487.7% in the second quarter. Braun Bostich & Associates Inc. now owns 858 shares of the basic materials company’s stock worth $120,000 after acquiring an additional 712 shares in the last quarter. Squar Milner Financial Services LLC bought a new stake in shares of Ecolab in the second quarter worth about $126,000. Flagship Harbor Advisors LLC bought a new stake in shares of Ecolab in the second quarter worth about $139,000. LeJeune Puetz Investment Counsel LLC bought a new stake in shares of Ecolab in the second quarter worth about $154,000. Finally, Harfst & Associates Inc. bought a new stake in shares of Ecolab in the second quarter worth about $201,000. Institutional investors own 76.15% of the company’s stock.
In related news, Director Victoria Reich sold 6,700 shares of the stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $148.40, for a total transaction of $994,280.00. Following the completion of the transaction, the director now directly owns 20,987 shares of the company’s stock, valued at $3,114,470.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Roberto Inchaustegui sold 10,600 shares of the stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $145.71, for a total value of $1,544,526.00. Following the transaction, the executive vice president now directly owns 33,202 shares of the company’s stock, valued at $4,837,863.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,885 shares of company stock valued at $17,369,786. 1.50% of the stock is owned by corporate insiders.
Ecolab (NYSE:ECL) last posted its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.27. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.69 billion. Ecolab had a return on equity of 18.96% and a net margin of 10.83%. Ecolab’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned $1.13 earnings per share. On average, research analysts predict that Ecolab Inc. will post 5.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Tuesday, September 18th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, September 17th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.12%. Ecolab’s payout ratio is presently 34.97%.
ECL has been the subject of several recent analyst reports. UBS Group increased their price target on Ecolab from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, October 2nd. JPMorgan Chase & Co. upgraded Ecolab from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 1st. ValuEngine upgraded Ecolab from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Nomura lowered their price target on Ecolab from $153.00 to $150.00 and set a “neutral” rating for the company in a report on Tuesday, October 16th. Finally, Credit Suisse Group increased their price target on Ecolab from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, August 1st. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Ecolab has a consensus rating of “Buy” and a consensus price target of $150.81.
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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