Janney Montgomery Scott LLC increased its position in shares of Ecolab Inc. (NYSE:ECL) by 11.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 78,916 shares of the basic materials company’s stock after purchasing an additional 7,982 shares during the period. Janney Montgomery Scott LLC’s holdings in Ecolab were worth $16,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Hexavest Inc. purchased a new position in Ecolab in the 4th quarter worth about $25,000. West Financial Advisors LLC acquired a new position in Ecolab in the fourth quarter valued at about $25,000. IronBridge Private Wealth LLC acquired a new position in Ecolab in the fourth quarter valued at about $25,000. Glassman Wealth Services increased its holdings in shares of Ecolab by 81.7% in the fourth quarter. Glassman Wealth Services now owns 149 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 67 shares in the last quarter. Finally, Evolution Wealth Advisors LLC increased its holdings in shares of Ecolab by 52.7% in the first quarter. Evolution Wealth Advisors LLC now owns 168 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 73.58% of the company’s stock.
ECL has been the subject of several recent research reports. Zacks Investment Research cut Ecolab from a “buy” rating to a “hold” rating and set a $221.00 price target for the company. in a research report on Wednesday, February 17th. G.Research raised Ecolab from a “hold” rating to a “buy” rating in a report on Friday, January 15th. Credit Suisse Group raised their price objective on Ecolab from $210.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 28th. Deutsche Bank Aktiengesellschaft upgraded Ecolab from a “hold” rating to a “buy” rating and lifted their price target for the company from $225.00 to $250.00 in a research note on Monday, March 29th. Finally, Gabelli upgraded Ecolab from a “hold” rating to a “buy” rating in a research note on Friday, January 15th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $228.00.
Ecolab (NYSE:ECL) last issued its earnings results on Tuesday, April 27th. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.90 billion. Ecolab had a negative net margin of 8.21% and a positive return on equity of 18.14%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 earnings per share. On average, sell-side analysts expect that Ecolab Inc. will post 4.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Tuesday, March 16th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Monday, March 15th. Ecolab’s dividend payout ratio is currently 32.99%.
In other Ecolab news, EVP Jill S. Wyant sold 2,613 shares of the business’s stock in a transaction that occurred on Tuesday, March 9th. The stock was sold at an average price of $214.54, for a total transaction of $560,593.02. Following the completion of the sale, the executive vice president now directly owns 10,123 shares of the company’s stock, valued at approximately $2,171,788.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.22% of the company’s stock.
Ecolab Company Profile
Ecolab Inc provides water, hygiene, and infection prevention solutions and services worldwide. Its Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, and petrochemical industries.
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