Diversify Advisory Services LLC acquired a new stake in shares of Ecolab Inc. (NYSE:ECL – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,125 shares of the basic materials company’s stock, valued at approximately $577,000.
Other institutional investors have also made changes to their positions in the company. Wexford Capital LP bought a new stake in Ecolab during the third quarter worth approximately $25,000. JPL Wealth Management LLC bought a new position in shares of Ecolab in the third quarter valued at approximately $26,000. Costello Asset Management INC acquired a new stake in shares of Ecolab in the first quarter worth $27,000. J.Safra Asset Management Corp bought a new stake in shares of Ecolab during the 2nd quarter worth $28,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Ecolab in the 4th quarter valued at $27,000. 74.91% of the stock is owned by institutional investors.
Ecolab Trading Down 1.7%
Shares of ECL opened at $280.73 on Friday. The stock’s 50-day moving average price is $276.23 and its 200 day moving average price is $273.67. 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 firm has a market capitalization of $78.70 billion, a price-to-earnings ratio of 37.68, a P/E/G ratio of 2.46 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 announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Ecolab’s dividend payout ratio (DPR) is 39.19%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on ECL shares. 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. Mizuho boosted their price objective on Ecolab from $325.00 to $327.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. BMO Capital Markets increased their target price on Ecolab from $345.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft raised their target price on Ecolab from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Wells Fargo & Company lifted their price target on Ecolab from $275.00 to $295.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. 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 given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $327.56.
Check Out Our Latest Report on Ecolab
Insider Activity
In other Ecolab news, COO Darrell R. Brown sold 10,000 shares of Ecolab stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $260.89, for a total transaction of $2,608,900.00. Following the sale, the chief operating officer owned 32,733 shares in the company, valued at $8,539,712.37. The trade was a 23.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christophe Beck sold 17,862 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $280.14, for a total transaction of $5,003,860.68. Following the completion of 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. Over the last three months, insiders have sold 28,866 shares of company stock valued at $7,878,801. 0.50% of the stock is owned by insiders.
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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