Patten Group buys $1,952,710 stake in Ecolab (ECL)

Ecolab (ECL) : Patten Group scooped up 2,535 additional shares in Ecolab during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 15,947 shares of Ecolab which is valued at $1,952,710.Ecolab makes up approximately 0.90% of Patten Group’s portfolio.

Other Hedge Funds, Including , Logan Capital Management Inc boosted its stake in ECL in the latest quarter, The investment management firm added 2,616 additional shares and now holds a total of 55,066 shares of Ecolab which is valued at $6,742,832. Ecolab makes up approx 0.53% of Logan Capital Management Inc’s portfolio.Front Barnett Associates reduced its stake in ECL by selling 40 shares or 0.5% in the most recent quarter. The Hedge Fund company now holds 7,925 shares of ECL which is valued at $962,174. Ecolab makes up approx 0.19% of Front Barnett Associates’s portfolio.State Treasurer State Of Michigan reduced its stake in ECL by selling 100 shares or 0.11% in the most recent quarter. The Hedge Fund company now holds 91,653 shares of ECL which is valued at $11,127,591. Ecolab makes up approx 0.08% of State Treasurer State Of Michigan’s portfolio.

Ecolab closed down -0.96 points or -0.78% at $122.74 with 698,799 shares getting traded on Wednesday. Post opening the session at $124.47, the shares hit an intraday low of $122.26 and an intraday high of $124.47 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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. Macquarie Initiated Ecolab on Aug 26, 2016 to “Outperform”, Price Target of the shares are set at $143.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 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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