Ecolab Inc. (NYSE:ECL) Shares Sold by Pendal Group Ltd

Pendal Group Ltd lessened its stake in shares of Ecolab Inc. (NYSE:ECLGet Rating) by 11.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,689 shares of the basic materials company’s stock after selling 3,532 shares during the quarter. Pendal Group Ltd’s holdings in Ecolab were worth $4,888,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ahrens Investment Partners LLC acquired a new position in shares of Ecolab during the fourth quarter worth about $25,000. Rational Advisors LLC lifted its stake in shares of Ecolab by 133.3% in the fourth quarter. Rational Advisors LLC now owns 105 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 60 shares in the last quarter. US Asset Management LLC acquired a new position in shares of Ecolab in the first quarter worth about $25,000. EverSource Wealth Advisors LLC acquired a new position in shares of Ecolab in the fourth quarter worth about $26,000. Finally, Retirement Planning Co of New England Inc. acquired a new position in shares of Ecolab in the fourth quarter worth about $28,000. Institutional investors own 75.04% of the company’s stock.

ECL opened at $158.02 on Wednesday. The stock has a fifty day moving average of $160.54 and a 200-day moving average of $180.15. The firm has a market capitalization of $45.14 billion, a P/E ratio of 41.15, a PEG ratio of 2.48 and a beta of 1.03. Ecolab Inc. has a 12-month low of $143.82 and a 12-month high of $238.93. The company has a quick ratio of 0.83, a current ratio of 1.27 and a debt-to-equity ratio of 1.16.

Ecolab (NYSE:ECLGet Rating) last released its earnings results on Tuesday, April 26th. The basic materials company reported $0.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.82. Ecolab had a return on equity of 19.35% and a net margin of 8.45%. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the prior year, the company earned $0.81 earnings per share. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, analysts expect that Ecolab Inc. will post 5.02 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Tuesday, June 21st will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Friday, June 17th. Ecolab’s dividend payout ratio (DPR) is presently 53.13%.

ECL has been the topic of several recent analyst reports. Atlantic Securities initiated coverage on Ecolab in a research note on Tuesday, April 5th. They issued an “overweight” rating and a $210.00 price target on the stock. Mizuho cut their price target on Ecolab from $198.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft cut their price objective on Ecolab from $200.00 to $195.00 in a research note on Wednesday, June 8th. JPMorgan Chase & Co. upgraded Ecolab from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $191.00 to $190.00 in a research note on Wednesday, April 27th. Finally, UBS Group upgraded Ecolab from a “neutral” rating to a “buy” rating and upped their price objective for the company from $186.00 to $205.00 in a research note on Thursday, June 2nd. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Ecolab presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.94.

In other Ecolab news, Director Tracy B. Mckibben bought 1,475 shares of the stock in a transaction on Friday, April 29th. The shares were purchased at an average cost of $170.00 per share, with a total value of $250,750.00. Following the completion of the transaction, the director now directly owns 6,746 shares of the company’s stock, valued at approximately $1,146,820. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael C. Mccormick sold 3,000 shares of the stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $167.72, for a total transaction of $503,160.00. Following the transaction, the executive vice president now directly owns 50,060 shares in the company, valued at $8,396,063.20. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Ecolab Profile (Get Rating)

Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through Global Industrial, Global Institutional & Specialty, and Global Healthcare & Life Sciences segments. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries.

Further Reading

Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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