one8zero8 LLC acquired a new stake in shares of Ecolab Inc. (NYSE:ECL – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 15,746 shares of the basic materials company’s stock, valued at approximately $4,387,000.
A number of other hedge funds also recently made changes to their positions in ECL. Wexford Capital LP bought a new stake in Ecolab during the third quarter worth about $25,000. JPL Wealth Management LLC bought a new position in shares of Ecolab during the 3rd quarter valued at about $26,000. Costello Asset Management INC purchased a new position in shares of Ecolab during the 1st quarter valued at about $27,000. J.Safra Asset Management Corp purchased a new position in shares of Ecolab during the 2nd quarter valued at about $28,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Ecolab in the 4th quarter worth approximately $27,000. 74.91% of the stock is owned by institutional investors.
Ecolab Stock Performance
NYSE:ECL opened at $285.28 on Thursday. 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 Inc. has a fifty-two week low of $243.15 and a fifty-two week high of $309.27. The firm has a market cap of $79.97 billion, a PE ratio of 38.29, a price-to-earnings-growth ratio of 2.42 and a beta of 0.88. The business has a 50 day moving average price of $275.91 and a 200-day moving average price of $273.68.
Ecolab Announces Dividend
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 given a $0.73 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.0%. Ecolab’s payout ratio is presently 39.19%.
Insider Activity
In other news, Director Suzanne M. Vautrinot sold 1,004 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $264.98, for a total transaction of $266,039.92. Following the completion of the sale, the director directly owned 11,651 shares in the company, valued at approximately $3,087,281.98. This represents a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Benjamin M. Clark acquired 1,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $263.83 per share, for a total transaction of $263,830.00. Following the completion of the transaction, the executive vice president owned 1,083 shares in the company, valued at approximately $285,727.89. The trade was a 1,204.82% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.50% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on ECL. Royal Bank Of Canada reiterated an “outperform” rating and set a $337.00 price target on shares of Ecolab in a research report on Tuesday, July 7th. Oppenheimer upgraded shares of Ecolab from a “market perform” rating to an “outperform” rating and set a $320.00 price objective for the company in a report on Friday, July 17th. Robert W. Baird set a $305.00 price objective on shares of Ecolab in a research note on Wednesday, July 29th. Zacks Research cut shares of Ecolab from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. Finally, Wells Fargo & Company boosted their price target on shares of Ecolab from $275.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $327.56.
Read Our Latest Stock Report on ECL
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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