Mackenzie Financial Corp Lowers Stock Holdings in Ecolab Inc. (NYSE:ECL)

Mackenzie Financial Corp decreased its position in shares of Ecolab Inc. (NYSE:ECL) by 80.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,503 shares of the basic materials company’s stock after selling 6,255 shares during the period. Mackenzie Financial Corp’s holdings in Ecolab were worth $297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ECL. Morgan Stanley raised its position in Ecolab by 251.6% during the second quarter. Morgan Stanley now owns 7,383,606 shares of the basic materials company’s stock valued at $1,457,819,000 after purchasing an additional 5,283,861 shares in the last quarter. Nuveen Asset Management LLC raised its position in 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 valued at $291,239,000 after purchasing an additional 1,454,075 shares in the last quarter. Thoroughbred Financial Services LLC raised its position in 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 valued at $58,758,000 after purchasing an additional 584,680 shares in the last quarter. BlackRock Inc. raised its position in Ecolab by 3.4% during the second quarter. BlackRock Inc. now owns 17,657,493 shares of the basic materials company’s stock valued at $3,486,296,000 after purchasing an additional 578,662 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Ecolab by 1.9% during the second quarter. Vanguard Group Inc. now owns 22,709,178 shares of the basic materials company’s stock valued at $4,483,701,000 after purchasing an additional 419,611 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

In related news, EVP Alex N. Blanco sold 51,400 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $12,067,434.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Darrell R. Brown sold 2,280 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $207.95, for a total value of $474,126.00. Following the transaction, the executive vice president now owns 8,061 shares in the company, valued at approximately $1,676,284.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,358 shares of company stock worth $13,423,309. Company insiders own 1.52% of the company’s stock.

ECL has been the topic of a number of research reports. BMO Capital Markets raised their price target on Ecolab from $180.00 to $208.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. ValuEngine downgraded Ecolab from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley lifted their price objective on Ecolab from $140.00 to $205.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. UBS Group set a $202.00 price objective on Ecolab and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, Credit Suisse Group set a $181.00 price objective on Ecolab and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $193.14.

ECL opened at $194.74 on Friday. The company has a market cap of $55.05 billion, a P/E ratio of 34.66, a P/E/G ratio of 2.60 and a beta of 0.81. The business’s 50-day moving average price is $199.20 and its 200-day moving average price is $192.73. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.72. Ecolab Inc. has a 12 month low of $135.77 and a 12 month high of $209.87.

Ecolab (NYSE:ECL) last released its quarterly earnings data 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. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.79 billion. Ecolab had a return on equity of 19.81% and a net margin of 10.12%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.27 earnings per share. Equities research analysts forecast that Ecolab Inc. will post 5.91 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.84 annualized dividend and a dividend yield of 0.94%. Ecolab’s dividend payout ratio is currently 35.05%.

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.

Read More: What does relative strength index mean?

Want to see what other hedge funds are holding ECL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ecolab Inc. (NYSE:ECL).

Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

Receive News & Ratings for Ecolab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecolab and related companies with MarketBeat.com's FREE daily email newsletter.