Eads & Heald Wealth Management trimmed its holdings in Ecolab Inc. (NYSE:ECL) by 5.3% during the second quarter, HoldingsChannel.com reports. The fund owned 12,599 shares of the basic materials company’s stock after selling 707 shares during the period. Ecolab makes up approximately 1.4% of Eads & Heald Wealth Management’s holdings, making the stock its 13th largest holding. Eads & Heald Wealth Management’s holdings in Ecolab were worth $2,488,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Greenleaf Trust increased its holdings in shares of Ecolab by 2.6% in the 2nd quarter. Greenleaf Trust now owns 3,674 shares of the basic materials company’s stock valued at $725,000 after acquiring an additional 92 shares during the period. Princeton Global Asset Management LLC increased its holdings in shares of Ecolab by 7.9% in the 1st quarter. Princeton Global Asset Management LLC now owns 3,675 shares of the basic materials company’s stock valued at $648,000 after acquiring an additional 270 shares during the period. Neuberger Berman Group LLC increased its holdings in shares of Ecolab by 0.8% in the 1st quarter. Neuberger Berman Group LLC now owns 255,687 shares of the basic materials company’s stock valued at $45,139,000 after acquiring an additional 2,065 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in shares of Ecolab in the 1st quarter valued at $94,000. Finally, Ironwood Investment Management LLC increased its holdings in shares of Ecolab by 7.7% in the 1st quarter. Ironwood Investment Management LLC now owns 2,074 shares of the basic materials company’s stock valued at $366,000 after acquiring an additional 149 shares during the period. 75.30% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the stock. BMO Capital Markets lifted their target price on shares of Ecolab from $180.00 to $208.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Bank of America reaffirmed a “buy” rating and issued a $200.00 target price (up from $178.00) on shares of Ecolab in a report on Wednesday, May 1st. Citigroup lifted their target price on shares of Ecolab from $190.00 to $206.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Zacks Investment Research raised shares of Ecolab from a “sell” rating to a “hold” rating in a report on Thursday, May 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 note on Wednesday. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $191.07.
Shares of ECL opened at $205.97 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.18 and a debt-to-equity ratio of 0.72. The firm has a market cap of $57.61 billion, a PE ratio of 39.23, a P/E/G ratio of 2.71 and a beta of 0.84. The firm has a fifty day moving average price of $197.58. Ecolab Inc. has a 1 year low of $135.77 and a 1 year high of $209.24.
Ecolab (NYSE:ECL) last announced its quarterly earnings data 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. The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Ecolab had a net margin of 10.12% and a return on equity of 19.81%. Ecolab’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.27 EPS. On average, sell-side analysts anticipate that Ecolab Inc. will post 5.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.46 per share. The ex-dividend date is Monday, September 16th. This represents a $1.84 annualized dividend and a dividend yield of 0.89%. Ecolab’s payout ratio is currently 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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