Willingdon Wealth Management trimmed its holdings in Ecolab Inc. (NYSE:ECL) by 8.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,770 shares of the basic materials company’s stock after selling 171 shares during the period. Willingdon Wealth Management’s holdings in Ecolab were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Putnam FL Investment Management Co. bought a new stake in shares of Ecolab in the second quarter valued at about $28,000. Permanens Capital L.P. bought a new stake in shares of Ecolab in the first quarter valued at about $26,000. Focused Wealth Management Inc bought a new stake in shares of Ecolab in the second quarter valued at about $30,000. Advisory Alpha LLC bought a new stake in shares of Ecolab in the first quarter valued at about $28,000. Finally, Private Ocean LLC bought a new stake in shares of Ecolab in the first quarter valued at about $29,000. 75.32% of the stock is owned by hedge funds and other institutional investors.
ECL has been the topic of a number of research reports. Morgan Stanley boosted their price target on Ecolab from $140.00 to $205.00 and gave the company an “equal weight” rating in a report on Monday. Nomura boosted their price target on Ecolab from $208.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. UBS Group set a $202.00 price target on Ecolab and gave the company a “hold” rating in a report on Wednesday, July 31st. Canaccord Genuity boosted their price target on Ecolab from $198.00 to $222.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, BMO Capital Markets boosted their price target on Ecolab from $180.00 to $208.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Ecolab has a consensus rating of “Hold” and a consensus price target of $192.00.
Ecolab (NYSE:ECL) last released its earnings results on Tuesday, July 30th. The basic materials company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.01. Ecolab had a return on equity of 19.81% and a net margin of 10.12%. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the company posted $1.27 earnings per share. Ecolab’s revenue was up 1.9% on a year-over-year basis. On average, equities research analysts predict that Ecolab Inc. will post 5.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.46 per share. The ex-dividend date is Monday, September 16th. This represents a $1.84 annualized dividend and a yield of 0.89%. Ecolab’s payout ratio is presently 35.05%.
In other Ecolab news, EVP Alex N. Blanco sold 51,400 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $203.07, for a total transaction of $10,437,798.00. Following the transaction, the executive vice president now owns 59,425 shares of the company’s stock, valued at $12,067,434.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Elizabeth A. Simermeyer sold 3,875 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $183.90, for a total value of $712,612.50. Following the transaction, the executive vice president now directly owns 10,421 shares in the company, valued at approximately $1,916,421.90. The disclosure for this sale can be found here. Insiders have sold 95,650 shares of company stock worth $18,898,540 in the last quarter. 1.52% of the stock is currently owned by corporate insiders.
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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