Pictet Asset Management Holding SA boosted its holdings in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,860,283 shares of the basic materials company’s stock after purchasing an additional 202,449 shares during the period. Ecolab comprises approximately 1.0% of Pictet Asset Management Holding SA’s holdings, making the stock its 12th largest holding. Pictet Asset Management Holding SA owned about 1.36% of Ecolab worth $1,013,557,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Wexford Capital LP purchased a new position in shares of Ecolab during the third quarter valued at approximately $25,000. JPL Wealth Management LLC purchased a new stake in Ecolab in the third quarter worth $26,000. Corundum Trust Company INC bought a new stake in Ecolab in the third quarter valued at $28,000. SJS Investment Consulting Inc. boosted its holdings in Ecolab by 1,177.8% in the third quarter. SJS Investment Consulting Inc. now owns 115 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 106 shares in the last quarter. Finally, Tradewinds Capital Management LLC increased its position in Ecolab by 1,375.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 118 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 74.91% of the company’s stock.
Ecolab Price Performance
Shares of ECL opened at $269.92 on Monday. The stock has a market cap of $76.23 billion, a PE ratio of 37.08, a price-to-earnings-growth ratio of 2.13 and a beta of 1.02. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.81 and a current ratio of 1.08. Ecolab Inc. has a fifty-two week low of $235.93 and a fifty-two week high of $309.27. The firm’s 50-day simple moving average is $278.81 and its two-hundred day simple moving average is $273.52.
Ecolab Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.73 per share. The ex-dividend date was 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%.
Analyst Upgrades and Downgrades
Several brokerages have commented on ECL. Bank of America upped their price objective on shares of Ecolab from $337.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Mizuho set a $335.00 price target on shares of Ecolab in a research report on Wednesday, February 11th. Berenberg Bank raised shares of Ecolab from a “hold” rating to a “buy” rating and set a $326.00 price target for the company in a research note on Monday, March 16th. BMO Capital Markets raised their price objective on shares of Ecolab from $323.00 to $345.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $330.00 price objective on shares of Ecolab in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $322.82.
View Our Latest Research Report on Ecolab
Insiders Place Their Bets
In other news, Director Tracy B. Mckibben sold 1,265 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $308.66, for a total transaction of $390,454.90. Following the completion of the transaction, the director directly owned 11,358 shares in the company, valued at $3,505,760.28. This trade represents a 10.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christophe Beck sold 20,000 shares of Ecolab stock in a transaction dated Tuesday, February 24th. The stock was 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 directly owned 90,794 shares of the company’s stock, valued at approximately $27,907,351.78. This represents a 18.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.50% of the stock is currently 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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