CIBC Asset Management Inc trimmed its holdings in Ecolab Inc. (NYSE:ECL – Get Rating) by 36.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,179 shares of the basic materials company’s stock after selling 15,250 shares during the quarter. CIBC Asset Management Inc’s holdings in Ecolab were worth $4,622,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Rational Advisors LLC raised its holdings in Ecolab by 133.3% during the 4th quarter. Rational Advisors LLC now owns 105 shares of the basic materials company’s stock worth $25,000 after buying an additional 60 shares during the period. US Asset Management LLC acquired a new stake in Ecolab during the 1st quarter worth about $25,000. EverSource Wealth Advisors LLC acquired a new stake in Ecolab during the 4th quarter worth about $26,000. Retirement Planning Co of New England Inc. acquired a new stake in Ecolab during the 4th quarter worth about $28,000. Finally, O Dell Group LLC raised its holdings in Ecolab by 62.1% during the 1st quarter. O Dell Group LLC now owns 188 shares of the basic materials company’s stock worth $33,000 after buying an additional 72 shares during the period. 75.04% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Ecolab news, EVP Michael C. Mccormick sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $167.72, for a total transaction of $503,160.00. Following the completion of the sale, the executive vice president now owns 50,060 shares of the company’s stock, valued at $8,396,063.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Michael C. Mccormick sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $167.72, for a total value of $503,160.00. Following the completion of the sale, the executive vice president now directly owns 50,060 shares of the company’s stock, valued at $8,396,063.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arthur J. Higgins sold 3,200 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $166.74, for a total value of $533,568.00. Following the completion of the sale, the director now directly owns 22,530 shares of the company’s stock, valued at $3,756,652.20. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.
Ecolab Trading Down 0.2 %
Ecolab (NYSE:ECL – Get Rating) last announced its earnings results on Tuesday, July 26th. The basic materials company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Ecolab had a return on equity of 18.56% and a net margin of 8.17%. The company’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 earnings per share. On average, research analysts forecast that Ecolab Inc. will post 4.78 EPS for the current fiscal year.
Ecolab Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Tuesday, September 20th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, September 19th. This represents a $2.04 dividend on an annualized basis and a yield of 1.23%. Ecolab’s payout ratio is currently 53.13%.
Analyst Upgrades and Downgrades
ECL has been the topic of several recent analyst reports. Northcoast Research initiated coverage on Ecolab in a report on Friday, July 15th. They set a “neutral” rating on the stock. Royal Bank of Canada cut their price objective on Ecolab from $225.00 to $190.00 in a report on Thursday, July 14th. Mizuho dropped their target price on Ecolab from $198.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, June 29th. JPMorgan Chase & Co. upgraded Ecolab from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $191.00 to $190.00 in a report on Wednesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Ecolab from $195.00 to $180.00 in a report on Wednesday, July 27th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $194.12.
Ecolab Company Profile
Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through Global Industrial, Global Institutional & Specialty, and Global Healthcare & Life Sciences segments. The 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, refining, and petrochemical industries.
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