Nordea Investment Management AB trimmed its stake in shares of Ecolab Inc. (NYSE:ECL) by 20.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 260,990 shares of the basic materials company’s stock after selling 66,756 shares during the quarter. Nordea Investment Management AB owned about 0.09% of Ecolab worth $46,076,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its stake in Ecolab by 14,455.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,084,837 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 4,056,773 shares in the last quarter. Norges Bank acquired a new position in shares of Ecolab during the 4th quarter worth approximately $261,004,000. 1832 Asset Management L.P. grew its position in shares of Ecolab by 8,750.5% during the 4th quarter. 1832 Asset Management L.P. now owns 992,404 shares of the basic materials company’s stock worth $145,953,000 after purchasing an additional 981,191 shares in the last quarter. BlackRock Inc. grew its position in shares of Ecolab by 4.1% during the 4th quarter. BlackRock Inc. now owns 16,641,721 shares of the basic materials company’s stock worth $2,452,158,000 after purchasing an additional 656,297 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Ecolab by 43.8% during the 4th quarter. California Public Employees Retirement System now owns 1,324,421 shares of the basic materials company’s stock worth $195,153,000 after purchasing an additional 403,454 shares in the last quarter. Institutional investors and hedge funds own 75.21% of the company’s stock.
Several analysts recently issued reports on ECL shares. Zacks Investment Research lowered shares of Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Edward Jones lowered shares of Ecolab from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. Nomura set a $42.00 price objective on shares of General Motors and gave the stock a “hold” rating in a research report on Thursday, May 2nd. UBS Group lowered shares of Advanced Disposal Services from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Wednesday, May 1st. They noted that the move was a valuation call. Finally, BMO Capital Markets raised shares of TMAC Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Ecolab presently has a consensus rating of “Hold” and an average target price of $180.93.
Shares of NYSE ECL traded up $1.43 during midday trading on Thursday, hitting $199.56. The company’s stock had a trading volume of 1,068,464 shares, compared to its average volume of 1,099,205. The company’s fifty day simple moving average is $192.31. Ecolab Inc. has a one year low of $135.77 and a one year high of $200.93. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.73. The stock has a market cap of $56.66 billion, a price-to-earnings ratio of 38.01, a price-to-earnings-growth ratio of 2.68 and a beta of 0.84.
Ecolab (NYSE:ECL) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.57 billion. Ecolab had a net margin of 10.06% and a return on equity of 19.50%. Ecolab’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. As a group, analysts expect that Ecolab Inc. will post 5.9 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 18th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.92%. The ex-dividend date is Monday, June 17th. Ecolab’s payout ratio is 35.05%.
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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