Czech National Bank increased its stake in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 3.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,097 shares of the basic materials company’s stock after acquiring an additional 2,673 shares during the period. Czech National Bank’s holdings in Ecolab were worth $20,087,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Wexford Capital LP acquired a new stake in Ecolab in the third quarter valued at $25,000. JPL Wealth Management LLC acquired a new position in shares of Ecolab during the 3rd quarter worth about $26,000. Costello Asset Management INC bought a new stake in shares of Ecolab in the 1st quarter valued at about $27,000. Kemnay Advisory Services Inc. bought a new stake in shares of Ecolab in the 4th quarter valued at about $27,000. Finally, Meeder Asset Management Inc. acquired a new stake in Ecolab in the 4th quarter valued at about $29,000. 74.91% of the stock is currently owned by institutional investors.
Ecolab Trading Up 0.5%
Shares of ECL stock opened at $284.86 on Friday. The firm has a 50 day moving average price of $272.17 and a two-hundred day moving average price of $273.76. The company has a quick ratio of 1.57, a current ratio of 1.84 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $80.17 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 2.45 and a beta of 0.88. Ecolab Inc. has a 12-month low of $243.15 and a 12-month high of $309.27.
Ecolab Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Ecolab’s dividend payout ratio is currently 39.19%.
Insider Activity
In other news, Director Michel D. Doukeris acquired 7,750 shares of the stock in a transaction on Wednesday, June 10th. The shares were purchased at an average price of $258.00 per share, for a total transaction of $1,999,500.00. Following the transaction, the director directly owned 8,326 shares of the company’s stock, valued at approximately $2,148,108. This represents a 1,345.49% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Maclennan purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average price of $250.65 per share, for a total transaction of $250,650.00. Following the completion of the purchase, the director directly owned 25,230 shares of the company’s stock, valued at $6,323,899.50. This represents a 4.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 9,750 shares of company stock worth $2,513,980. Corporate insiders own 0.50% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on ECL shares. Weiss Ratings downgraded Ecolab from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 20th. Citigroup raised their price objective on Ecolab from $325.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. UBS Group reiterated a “buy” rating and set a $342.00 target price on shares of Ecolab in a research note on Wednesday, July 29th. Bank of America boosted their target price on Ecolab from $337.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Finally, Oppenheimer raised Ecolab from a “market perform” rating to an “outperform” rating and set a $320.00 price target for the company in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ecolab currently has an average rating of “Moderate Buy” and an average price target of $327.56.
View Our Latest Stock Analysis on Ecolab
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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