TIAA CREF Investment Management LLC Reduces Holdings in Ecolab Inc. (ECL)

TIAA CREF Investment Management LLC decreased its holdings in Ecolab Inc. (NYSE:ECL) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 880,368 shares of the basic materials company’s stock after selling 31,892 shares during the period. TIAA CREF Investment Management LLC owned about 0.30% of Ecolab worth $116,869,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA grew its stake in shares of Ecolab by 269.4% in the first quarter. BNP Paribas Arbitrage SA now owns 191,189 shares of the basic materials company’s stock worth $23,964,000 after acquiring an additional 139,434 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of Ecolab by 21.3% in the second quarter. Alps Advisors Inc. now owns 2,134 shares of the basic materials company’s stock worth $283,000 after acquiring an additional 375 shares in the last quarter. State Street Corp grew its stake in shares of Ecolab by 0.3% in the first quarter. State Street Corp now owns 11,935,943 shares of the basic materials company’s stock worth $1,496,059,000 after acquiring an additional 31,277 shares in the last quarter. YHB Investment Advisors Inc. grew its stake in shares of Ecolab by 0.6% in the first quarter. YHB Investment Advisors Inc. now owns 112,954 shares of the basic materials company’s stock worth $14,581,000 after acquiring an additional 649 shares in the last quarter. Finally, Bell Bank grew its stake in shares of Ecolab by 6.7% in the first quarter. Bell Bank now owns 4,706 shares of the basic materials company’s stock worth $590,000 after acquiring an additional 297 shares in the last quarter. Institutional investors and hedge funds own 75.54% of the company’s stock.

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In related news, insider Thomas W. Handley sold 7,397 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $130.63, for a total transaction of $966,270.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder William H. Gates III purchased 75,500 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were purchased at an average cost of $132.57 per share, with a total value of $10,009,035.00. The disclosure for this purchase can be found here. 1.49% of the stock is currently owned by company insiders.

Several equities analysts have commented on the stock. Instinet restated a “neutral” rating and issued a $117.00 price target (down previously from $120.00) on shares of Ecolab in a research note on Tuesday, September 12th. Nomura restated a “hold” rating and issued a $117.00 price target (down previously from $120.00) on shares of Ecolab in a research note on Tuesday, September 12th. Royal Bank Of Canada boosted their price target on shares of Ecolab from $134.00 to $137.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 12th. Canaccord Genuity restated a “buy” rating and issued a $145.00 price target on shares of Ecolab in a research note on Monday, September 11th. Finally, Credit Suisse Group restated a “hold” rating on shares of Ecolab in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $133.93.

Shares of Ecolab Inc. (NYSE:ECL) opened at 131.05 on Friday. The company has a 50-day moving average of $131.31 and a 200-day moving average of $129.38. The stock has a market capitalization of $37.92 billion, a PE ratio of 29.96 and a beta of 0.99. Ecolab Inc. has a 12 month low of $110.65 and a 12 month high of $134.89.

Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.01. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.40 billion. Ecolab had a net margin of 9.66% and a return on equity of 18.93%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $1.08 EPS. On average, equities research analysts expect that Ecolab Inc. will post $4.74 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Tuesday, September 19th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Monday, September 18th. Ecolab’s payout ratio is 33.79%.

Ecolab Company Profile

Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s cleaning and sanitizing programs and products, pest elimination services and equipment maintenance and repair services support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors in over 170 countries.

Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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