Smithbridge Asset Management Incde Lowers stake in Ecolab (ECL)

Ecolab (ECL) : Smithbridge Asset Management Incde reduced its stake in Ecolab by 0.74% during the most recent quarter end. The investment management company now holds a total of 20,025 shares of Ecolab which is valued at $2,452,061 after selling 150 shares in Ecolab , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Ecolab makes up approximately 2.21% of Smithbridge Asset Management Incde’s portfolio.

Other Hedge Funds, Including , Quadrature Capital Ltd added ECL to its portfolio by purchasing 5,235 company shares during the most recent quarter which is valued at $641,026. Ecolab makes up approx 0.04% of Quadrature Capital Ltd’s portfolio.Lafleur Godfrey reduced its stake in ECL by selling 6,208 shares or 4.18% in the most recent quarter. The Hedge Fund company now holds 142,364 shares of ECL which is valued at $17,432,472. Ecolab makes up approx 4.92% of Lafleur Godfrey’s portfolio.Garrison Bradford Associates Inc reduced its stake in ECL by selling 2,900 shares or 39.59% in the most recent quarter. The Hedge Fund company now holds 4,425 shares of ECL which is valued at $537,239. Ecolab makes up approx 0.51% of Garrison Bradford Associates Inc’s portfolio.Comgest Global Investors S.a.s. boosted its stake in ECL in the latest quarter, The investment management firm added 21,300 additional shares and now holds a total of 118,000 shares of Ecolab which is valued at $14,066,780. Ecolab makes up approx 0.42% of Comgest Global Investors S.a.s.’s portfolio.

Ecolab opened for trading at $122.8 and hit $123.28 on the upside on Tuesday, eventually ending the session at $122.67, with a gain of 0.34% or 0.41 points. The heightened volatility saw the trading volume jump to 5,63,673 shares. Company has a market cap of $35,770 M.

On the company’s financial health, Ecolab reported $1.08 EPS for the quarter, based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus estimate of $1.08. The company had revenue of $3317.00 million for the quarter, compared to analysts expectations of $3326.45 million. The company’s revenue was down -2.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.08 EPS.

Investors should note that on Aug 4, 2016, Ecolab announced a cash dividend of $0.3500. The company’s management has announced Sep 16, 2016 as the ex-dividend date and fixed the record date on Sep 20, 2016. The payable date has been fixed on Oct 17, 2016.

Many Wall Street Analysts have commented on Ecolab. Company shares were Reiterated by Nomura on Aug 22, 2016 to “Reduce”, Firm has raised the Price Target to $ 98 from a previous price target of $94 .Ecolab was Upgraded by Citigroup to ” Buy” on Aug 3, 2016. Ecolab was Downgraded by Stifel to ” Hold” on Aug 3, 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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