Gofen & Glossberg LLC IL cut its holdings in shares of Ecolab Inc. (NYSE:ECL) by 1.6% in the 3rd quarter, Holdings Channel reports. The firm owned 196,459 shares of the basic materials company’s stock after selling 3,100 shares during the period. Ecolab makes up approximately 1.3% of Gofen & Glossberg LLC IL’s portfolio, making the stock its 19th largest holding. Gofen & Glossberg LLC IL’s holdings in Ecolab were worth $38,907,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in ECL. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Ecolab in the 3rd quarter valued at approximately $298,000. Parisi Gray Wealth Management lifted its position in shares of Ecolab by 5.0% in the 3rd quarter. Parisi Gray Wealth Management now owns 5,100 shares of the basic materials company’s stock valued at $1,010,000 after acquiring an additional 243 shares in the last quarter. Pennsylvania Trust Co lifted its position in shares of Ecolab by 1.7% in the 3rd quarter. Pennsylvania Trust Co now owns 32,602 shares of the basic materials company’s stock valued at $6,456,000 after acquiring an additional 530 shares in the last quarter. Cerebellum GP LLC purchased a new stake in shares of Ecolab in the 3rd quarter valued at approximately $63,000. Finally, Rudd International Inc. lifted its position in shares of Ecolab by 0.6% in the 3rd quarter. Rudd International Inc. now owns 19,741 shares of the basic materials company’s stock valued at $3,909,000 after acquiring an additional 118 shares in the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Alex N. Blanco sold 51,400 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $203.07, for a total value of $10,437,798.00. Following the transaction, the executive vice president now directly owns 59,425 shares in the company, valued at approximately $12,067,434.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Darrell R. Brown sold 2,280 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $207.95, for a total transaction of $474,126.00. Following the completion of the transaction, the executive vice president now owns 8,061 shares in the company, valued at $1,676,284.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,358 shares of company stock worth $13,423,309. 1.52% of the stock is currently owned by company insiders.
Ecolab (NYSE:ECL) last announced its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $1.42 EPS for the quarter, topping the Thomson Reuters’ 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 company 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 business posted $1.27 EPS. Ecolab’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts predict 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. Stockholders of record on Tuesday, September 17th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.84 annualized dividend and a dividend yield of 0.95%. Ecolab’s dividend payout ratio (DPR) is 35.05%.
Several research analysts have weighed in on ECL shares. Credit Suisse Group set a $181.00 price objective on shares of Ecolab and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Morgan Stanley upped their price objective on shares of Ecolab from $140.00 to $205.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. BMO Capital Markets upped their price objective on shares of Ecolab from $180.00 to $208.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Citigroup upped their price objective on shares of Ecolab from $190.00 to $206.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, ValuEngine lowered shares of Ecolab from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Ecolab presently has an average rating of “Hold” and an average price target of $192.00.
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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