Dearborn Partners LLC bought a new position in Ecolab Inc. (NYSE:ECL – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 79,207 shares of the basic materials company’s stock, valued at approximately $21,071,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wexford Capital LP bought a new stake in shares of Ecolab in the third quarter worth $25,000. JPL Wealth Management LLC bought a new position in Ecolab in the third quarter valued at about $26,000. Costello Asset Management INC bought a new position in Ecolab in the first quarter valued at about $27,000. J.Safra Asset Management Corp purchased a new position in Ecolab in the second quarter worth about $28,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Ecolab during the 4th quarter valued at about $27,000. 74.91% of the stock is owned by institutional investors.
Ecolab Price Performance
NYSE ECL opened at $287.03 on Tuesday. Ecolab Inc. has a 12 month low of $243.15 and a 12 month high of $309.27. The stock has a market cap of $80.46 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 2.43 and a beta of 0.88. The company’s 50 day moving average is $276.92 and its two-hundred day moving average is $273.69. The company has a current ratio of 1.84, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18.
Ecolab Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be issued a $0.73 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.92 annualized dividend and a yield of 1.0%. Ecolab’s dividend payout ratio is currently 39.19%.
Analyst Ratings Changes
Several equities research analysts have recently commented on the stock. BMO Capital Markets upped their price target on shares of Ecolab from $345.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Jefferies Financial Group cut their target price on shares of Ecolab from $352.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. UBS Group reaffirmed a “buy” rating and set a $342.00 target price on shares of Ecolab in a report on Wednesday, July 29th. Mizuho increased their price target on shares of Ecolab from $325.00 to $327.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, Robert W. Baird set a $305.00 price target on shares of Ecolab in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Ecolab has an average rating of “Moderate Buy” and a consensus target price of $327.56.
View Our Latest Report on Ecolab
Insiders Place Their Bets
In other Ecolab news, COO Darrell R. Brown sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 32,733 shares in the company, valued at $8,539,712.37. This represents a 23.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christophe Beck sold 17,862 shares of the company’s stock in a transaction 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 transaction, the chief executive officer owned 72,932 shares of the company’s stock, valued at approximately $20,431,170.48. This represents a 19.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,866 shares of company stock worth $7,878,801 in the last three months. 0.50% of the stock is owned by company insiders.
About Ecolab
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.
See Also
- Five stocks we like better than Ecolab
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
- Snowflake Could Be Headed for New Highs Despite Insider Selling
- MongoDB Is Surging—And the Next Catalyst Is Almost Here
Want to see what other hedge funds are holding ECL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ecolab Inc. (NYSE:ECL – Free Report).
Receive News & Ratings for Ecolab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecolab and related companies with MarketBeat.com's FREE daily email newsletter.
