EFG International AG bought a new position in Ecolab Inc. (NYSE:ECL – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 3,434 shares of the basic materials company’s stock, valued at approximately $957,000.
Several other institutional investors and hedge funds also recently bought and sold shares of ECL. Brighton Jones LLC increased its position in Ecolab by 164.7% in the fourth quarter. Brighton Jones LLC now owns 3,700 shares of the basic materials company’s stock worth $867,000 after buying an additional 2,302 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of Ecolab by 39.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,384 shares of the basic materials company’s stock valued at $373,000 after acquiring an additional 394 shares during the period. Schnieders Capital Management LLC. grew its stake in shares of Ecolab by 22.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,166 shares of the basic materials company’s stock valued at $314,000 after acquiring an additional 217 shares during the period. NewEdge Advisors LLC increased its holdings in Ecolab by 0.8% in the 2nd quarter. NewEdge Advisors LLC now owns 21,096 shares of the basic materials company’s stock worth $5,684,000 after acquiring an additional 171 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in Ecolab by 49.4% during the 2nd quarter. CIBC Asset Management Inc now owns 58,421 shares of the basic materials company’s stock worth $15,741,000 after acquiring an additional 19,324 shares during the period. 74.91% of the stock is currently owned by hedge funds and other institutional investors.
Ecolab Trading Up 0.5%
Shares of ECL opened at $290.87 on Thursday. The company’s fifty day moving average is $277.68 and its 200 day moving average is $273.73. Ecolab Inc. has a fifty-two week low of $243.15 and a fifty-two week high of $309.27. The stock has a market capitalization of $81.54 billion, a PE ratio of 39.04, a P/E/G ratio of 2.50 and a beta of 0.88. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.57 and a current ratio of 1.84.
Ecolab Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, September 15th. Ecolab’s dividend payout ratio is presently 39.19%.
Wall Street Analyst Weigh In
ECL has been the topic of several analyst reports. Oppenheimer raised shares of Ecolab from a “market perform” rating to an “outperform” rating and set a $320.00 price target on the stock in a report on Friday, July 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Ecolab in a research note on Monday, August 17th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Ecolab from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Zacks Research downgraded shares of Ecolab from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Finally, Jefferies Financial Group cut their price target on Ecolab from $352.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.56.
View Our Latest Analysis on Ecolab
Insider Activity
In related news, CEO Christophe Beck sold 17,862 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $280.14, for a total transaction of $5,003,860.68. Following the completion of the sale, the chief executive officer directly owned 72,932 shares of the company’s stock, valued at approximately $20,431,170.48. This trade represents a 19.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Darrell R. Brown sold 10,000 shares of Ecolab stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $260.89, for a total value of $2,608,900.00. Following the sale, the chief operating officer owned 32,733 shares of the company’s stock, valued at approximately $8,539,712.37. This trade represents a 23.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.50% of the stock is currently owned by company insiders.
Ecolab Company 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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