Redmond Asset Management LLC Trims Position in Ecolab Inc. (NYSE:ECL)

Redmond Asset Management LLC lessened its position in shares of Ecolab Inc. (NYSE:ECL) by 4.8% in the second quarter, Holdings Channel reports. The fund owned 11,567 shares of the basic materials company’s stock after selling 582 shares during the quarter. Ecolab comprises 1.0% of Redmond Asset Management LLC’s investment portfolio, making the stock its 29th biggest holding. Redmond Asset Management LLC’s holdings in Ecolab were worth $2,284,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Greenleaf Trust increased its position in Ecolab by 2.6% during the second 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 last quarter. Princeton Global Asset Management LLC increased its position in Ecolab by 7.9% during the first 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 last quarter. Neuberger Berman Group LLC increased its position in Ecolab by 0.8% in the first quarter. Neuberger Berman Group LLC now owns 255,687 shares of the basic materials company’s stock worth $45,139,000 after buying an additional 2,065 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new stake in Ecolab in the first quarter worth about $94,000. Finally, Ironwood Investment Management LLC increased its position in Ecolab by 7.7% in the first quarter. Ironwood Investment Management LLC now owns 2,074 shares of the basic materials company’s stock worth $366,000 after buying an additional 149 shares in the last quarter. Institutional investors own 75.32% of the company’s stock.

A number of analysts have commented on the company. UBS Group set a $202.00 price target on Ecolab and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Nomura upped their price target on Ecolab from $208.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets upped their price target on Ecolab from $180.00 to $208.00 and gave the stock a “market perform” rating in a research report on Monday, August 5th. Canaccord Genuity upped their price target on Ecolab from $198.00 to $222.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Citigroup upped their price target on Ecolab from $190.00 to $206.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $192.00.

Shares of NYSE ECL traded up $1.85 during mid-day trading on Thursday, reaching $203.49. The company’s stock had a trading volume of 15,007 shares, compared to its average volume of 1,015,294. The company has a market cap of $58.50 billion, a price-to-earnings ratio of 38.69, a PEG ratio of 2.78 and a beta of 0.84. 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’s fifty day simple moving average is $199.06. Ecolab Inc. has a 52 week low of $135.77 and a 52 week high of $209.24.

Ecolab (NYSE:ECL) last released its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.01. The firm had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.79 billion. Ecolab had a return on equity of 19.81% and a net margin of 10.12%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.27 earnings per share. As a group, equities research analysts anticipate that Ecolab Inc. will post 5.92 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Monday, September 16th. Ecolab’s dividend payout ratio (DPR) is 35.05%.

In other news, EVP Laurie M. Marsh sold 6,300 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $182.04, for a total value of $1,146,852.00. Following the completion of the transaction, the executive vice president now owns 17,583 shares of the company’s stock, valued at $3,200,809.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alex N. Blanco sold 51,400 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $203.07, for a total value of $10,437,798.00. Following the completion of the transaction, the executive vice president now directly owns 59,425 shares of the company’s stock, valued at approximately $12,067,434.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,650 shares of company stock valued at $18,898,540. Corporate insiders own 1.52% of the company’s stock.

Ecolab Company 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.

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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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