Patten & Patten Inc. TN Sells 575 Shares of Ecolab Inc. (NYSE:ECL)

Patten & Patten Inc. TN trimmed its position in shares of Ecolab Inc. (NYSE:ECL) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,246 shares of the basic materials company’s stock after selling 575 shares during the quarter. Patten & Patten Inc. TN’s holdings in Ecolab were worth $3,613,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ECL. Morgan Stanley boosted its position in shares of Ecolab by 251.6% during the second quarter. Morgan Stanley now owns 7,383,606 shares of the basic materials company’s stock worth $1,457,819,000 after purchasing an additional 5,283,861 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Ecolab by 6,924.5% during the second quarter. Nuveen Asset Management LLC now owns 1,475,074 shares of the basic materials company’s stock worth $291,239,000 after purchasing an additional 1,454,075 shares in the last quarter. Thoroughbred Financial Services LLC boosted its position in shares of Ecolab by 20,154.4% during the second quarter. Thoroughbred Financial Services LLC now owns 587,581 shares of the basic materials company’s stock worth $58,758,000 after purchasing an additional 584,680 shares in the last quarter. BlackRock Inc. boosted its position in shares of Ecolab by 3.4% during the second quarter. BlackRock Inc. now owns 17,657,493 shares of the basic materials company’s stock worth $3,486,296,000 after purchasing an additional 578,662 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Ecolab by 1.9% during the second quarter. Vanguard Group Inc. now owns 22,709,178 shares of the basic materials company’s stock worth $4,483,701,000 after purchasing an additional 419,611 shares in the last quarter. 75.97% of the stock is currently owned by institutional investors.

ECL traded up $0.66 during trading on Tuesday, hitting $194.67. The company had a trading volume of 443,904 shares, compared to its average volume of 953,960. The company has a market capitalization of $56.04 billion, a PE ratio of 37.08, a PEG ratio of 2.64 and a beta of 0.81. Ecolab Inc. has a one year low of $135.77 and a one year high of $209.87. The firm’s 50-day moving average price is $198.65 and its 200 day moving average price is $193.03. The company has a quick ratio of 0.78, a current ratio of 1.18 and a debt-to-equity ratio of 0.72.

Ecolab (NYSE:ECL) last issued its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.01. Ecolab had a net margin of 10.12% and a return on equity of 19.81%. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period in the previous year, the business earned $1.27 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. Sell-side analysts forecast that Ecolab Inc. will post 5.91 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.84 annualized dividend and a yield of 0.95%. Ecolab’s payout ratio is currently 35.05%.

In other Ecolab news, EVP Darrell R. Brown sold 2,280 shares of Ecolab stock in a transaction on Monday, August 19th. The shares were sold at an average price of $207.95, for a total value of $474,126.00. Following the sale, the executive vice president now directly owns 8,061 shares in the company, valued at approximately $1,676,284.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alex N. Blanco sold 51,400 shares of Ecolab stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $203.07, for a total transaction of $10,437,798.00. Following the completion of the sale, the executive vice president now owns 59,425 shares in the company, valued at $12,067,434.75. The disclosure for this sale can be found here. Insiders sold a total of 66,358 shares of company stock worth $13,423,309 over the last quarter. Company insiders own 1.52% of the company’s stock.

Several equities research analysts recently commented on the stock. Credit Suisse Group set a $181.00 price objective on shares of Ecolab and gave the company a “neutral” rating in a research report on Wednesday, July 31st. BMO Capital Markets boosted their price objective on shares of Ecolab from $180.00 to $208.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. Morgan Stanley boosted their price objective on shares of Ecolab from $140.00 to $205.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Citigroup boosted their price objective on shares of Ecolab from $190.00 to $206.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Nomura boosted their price objective on shares of Ecolab from $208.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Ecolab currently has an average rating of “Hold” and a consensus target price of $193.14.

Ecolab Profile

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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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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