Inverness Counsel Ny buys $32.9 Million stake in Ecolab (ECL)

Ecolab (ECL) : Inverness Counsel Ny scooped up 70,350 additional shares in Ecolab during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 283,710 shares of Ecolab which is valued at $32.9 Million.Ecolab makes up approximately 2.60% of Inverness Counsel Ny’s portfolio.

Other Hedge Funds, Including , Balentine sold out all of its stake in ECL during the most recent quarter. The investment firm sold 45 shares of ECL which is valued $5,221.Cibc Asset Management Inc boosted its stake in ECL in the latest quarter, The investment management firm added 2,536 additional shares and now holds a total of 33,400 shares of Ecolab which is valued at $3.9 Million. Ecolab makes up approx 0.03% of Cibc Asset Management Inc’s portfolio.Boston Financial Mangement Inc boosted its stake in ECL in the latest quarter, The investment management firm added 1,235 additional shares and now holds a total of 26,895 shares of Ecolab which is valued at $3.1 Million. Ecolab makes up approx 0.47% of Boston Financial Mangement Inc’s portfolio.Agf Investments America reduced its stake in ECL by selling 20,204 shares or 32.14% in the most recent quarter. The Hedge Fund company now holds 42,658 shares of ECL which is valued at $5 Million. Ecolab makes up approx 3.64% of Agf Investments America’s portfolio.

Ecolab opened for trading at $116.23 and hit $118.37 on the upside on Monday, eventually ending the session at $118.16, with a gain of 1.84% or 2.14 points. The heightened volatility saw the trading volume jump to 9,84,824 shares. Company has a market cap of $34,657 M.

On the company’s financial health, Ecolab reported $0.77 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.76. The company had revenue of $3097.40 million for the quarter, compared to analysts expectations of $3119.22 million. The company’s revenue was down -6.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.80 EPS.

Investors should note that on May 5, 2016, Ecolab announced a cash dividend of $0.3500. The company’s management has announced Jun 17, 2016 as the ex-dividend date and fixed the record date on Jun 21, 2016. The payable date has been fixed on Jul 15, 2016.

Many Wall Street Analysts have commented on Ecolab. Ecolab was Initiated by Nomura to “Reduce” on Apr 20, 2016. Company shares were Resumed by Credit Suisse on Mar 24, 2016 to “Neutral”, Firm has raised the Price Target to $ 109 from a previous price target of $107 .Ecolab was Initiated by Sterne Agee CRT to “Buy” on Mar 22, 2016.

Ecolab Inc. provides water hygiene and energy technologies and services. The Company operating segments include Global Industrial Global Institutional Global Energy and Other. The Company’s Global Industrial segment consists of the Water Food and Beverage Paper and Textile Care operating units. Global Institutional segment consists of the Institutional Specialty and Healthcare operating units. The Global Energy segment provides on-site technology-driven solutions to the global drilling oil and gas production refining and petrochemical industries. Other segment consists of the pest elimination and equipment care operating units. 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.

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