Wilmington Savings Fund Society FSB trimmed its stake in Ecolab Inc. (NYSE:ECL – Free Report) by 48.8% during the third quarter, Holdings Channel reports. The fund owned 5,850 shares of the basic materials company’s stock after selling 5,570 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Ecolab were worth $1,602,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Ecolab in the second quarter valued at approximately $847,544,000. Vanguard Group Inc. raised its holdings in Ecolab by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 25,190,115 shares of the basic materials company’s stock worth $6,898,565,000 after acquiring an additional 527,902 shares during the period. Balyasny Asset Management L.P. lifted its position in Ecolab by 195.9% during the 3rd quarter. Balyasny Asset Management L.P. now owns 670,778 shares of the basic materials company’s stock worth $183,699,000 after acquiring an additional 444,053 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Ecolab by 115.6% during the second quarter. AQR Capital Management LLC now owns 727,370 shares of the basic materials company’s stock valued at $193,753,000 after acquiring an additional 389,981 shares during the period. Finally, Holocene Advisors LP bought a new position in shares of Ecolab in the third quarter worth about $97,664,000. Institutional investors and hedge funds own 74.91% of the company’s stock.
Ecolab Price Performance
Shares of NYSE:ECL opened at $258.50 on Friday. The firm has a market capitalization of $72.89 billion, a PE ratio of 35.51, a PEG ratio of 2.16 and a beta of 0.97. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.75. Ecolab Inc. has a 1-year low of $221.62 and a 1-year high of $309.27. The business’s 50 day moving average is $286.93 and its 200-day moving average is $274.19.
Ecolab Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 17th will be paid a $0.73 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.92 dividend on an annualized basis and a yield of 1.1%. Ecolab’s payout ratio is presently 40.11%.
Insider Activity
In related news, CEO Christophe Beck sold 20,000 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $307.37, for a total value of $6,147,400.00. Following the completion of the transaction, the chief executive officer owned 90,794 shares of the company’s stock, valued at $27,907,351.78. This represents a 18.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tracy B. Mckibben sold 1,265 shares of Ecolab stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $308.66, for a total value of $390,454.90. Following the sale, the director directly owned 11,358 shares in the company, valued at $3,505,760.28. The trade was a 10.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.04% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on ECL shares. Evercore reaffirmed an “outperform” rating and issued a $312.00 target price on shares of Ecolab in a report on Wednesday, February 18th. Berenberg Bank upgraded Ecolab from a “hold” rating to a “buy” rating and set a $326.00 price target for the company in a report on Monday. Royal Bank Of Canada increased their price objective on Ecolab from $294.00 to $337.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft set a $325.00 target price on shares of Ecolab and gave the stock a “hold” rating in a research report on Friday, February 13th. Finally, UBS Group upped their target price on shares of Ecolab from $295.00 to $312.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $322.24.
Read Our Latest Stock Report on ECL
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
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