World Investment Advisors cut its stake in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 36.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,149 shares of the basic materials company’s stock after selling 6,901 shares during the period. World Investment Advisors’ holdings in Ecolab were worth $3,327,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in ECL. Saudi Central Bank bought a new position in shares of Ecolab during the first quarter valued at about $25,000. Financial Connections Group Inc. purchased a new stake in Ecolab in the 2nd quarter valued at about $26,000. J.Safra Asset Management Corp lifted its position in shares of Ecolab by 202.6% during the 2nd quarter. J.Safra Asset Management Corp now owns 115 shares of the basic materials company’s stock worth $31,000 after buying an additional 77 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its stake in shares of Ecolab by 81.5% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 118 shares of the basic materials company’s stock worth $32,000 after buying an additional 53 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new position in shares of Ecolab in the second quarter valued at approximately $41,000. Institutional investors own 74.91% of the company’s stock.
Ecolab Price Performance
Shares of NYSE:ECL opened at $265.86 on Friday. The firm has a market capitalization of $75.30 billion, a PE ratio of 38.20, a P/E/G ratio of 2.51 and a beta of 0.98. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.83. The company has a 50-day moving average price of $264.45 and a two-hundred day moving average price of $268.81. Ecolab Inc. has a twelve month low of $221.62 and a twelve month high of $286.04.
Ecolab Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Tuesday, December 16th will be issued a $0.73 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This is an increase from Ecolab’s previous quarterly dividend of $0.65. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.1%. Ecolab’s dividend payout ratio is 41.95%.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. Stifel Nicolaus cut their price objective on Ecolab from $303.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Robert W. Baird set a $307.00 target price on Ecolab in a research note on Wednesday, October 29th. Mizuho set a $315.00 price target on shares of Ecolab in a report on Wednesday, October 29th. UBS Group decreased their price objective on shares of Ecolab from $299.00 to $291.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ecolab from $250.00 to $265.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $294.57.
Check Out Our Latest Report on Ecolab
Insider Activity
In related news, CEO Christophe Beck sold 21,714 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $261.41, for a total transaction of $5,676,256.74. Following the sale, the chief executive officer directly owned 72,644 shares in the company, valued at approximately $18,989,868.04. The trade was a 23.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Boo Alexander A. De sold 1,422 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $268.25, for a total value of $381,451.50. Following the sale, the executive vice president directly owned 5,726 shares in the company, valued at $1,535,999.50. This trade represents a 19.89% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.04% of the stock is owned by company insiders.
Ecolab Profile
Ecolab, Inc is a global provider of water, hygiene and infection prevention solutions and services. The company develops and supplies cleaning and sanitizing chemicals, dispensing equipment, water-treatment systems, pest elimination services and related technologies designed to help businesses maintain clean, safe and efficient operations. Its offerings span both products and onsite services, often paired with technical support and training.
Ecolab serves a broad range of end markets including hospitality and foodservice, food and beverage processing, healthcare, manufacturing and industrial operations, and energy and utilities.
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