US Bancorp DE lifted its holdings in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 4.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,061,489 shares of the basic materials company’s stock after buying an additional 43,745 shares during the period. US Bancorp DE’s holdings in Ecolab were worth $278,663,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Canandaigua National Bank & Trust Co. grew its stake in Ecolab by 11.4% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 1,212 shares of the basic materials company’s stock worth $318,000 after buying an additional 124 shares during the last quarter. Cardinal Capital Management grew its stake in Ecolab by 0.3% during the 4th quarter. Cardinal Capital Management now owns 42,993 shares of the basic materials company’s stock worth $11,318,000 after buying an additional 140 shares during the last quarter. Rachor Investment Advisory Services LLC purchased a new position in Ecolab during the 4th quarter worth approximately $86,000. Simplicity Wealth LLC purchased a new position in Ecolab during the 4th quarter worth approximately $322,000. Finally, Wealthfront Advisers LLC grew its stake in Ecolab by 10.4% during the 4th quarter. Wealthfront Advisers LLC now owns 31,918 shares of the basic materials company’s stock worth $8,379,000 after buying an additional 3,004 shares during the last quarter. Institutional investors and hedge funds own 74.91% of the company’s stock.
Ecolab Trading Down 3.9%
Shares of ECL stock opened at $256.65 on Thursday. The business’s 50 day moving average is $276.55 and its two-hundred day moving average is $273.34. Ecolab Inc. has a twelve month low of $243.79 and a twelve month high of $309.27. The company has a market capitalization of $72.48 billion, a P/E ratio of 35.25, a price-to-earnings-growth ratio of 2.12 and a beta of 1.02. 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 Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 17th were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, March 17th. Ecolab’s dividend payout ratio (DPR) is 39.51%.
Analyst Ratings Changes
A number of research analysts recently issued reports on the company. BMO Capital Markets raised their price target on Ecolab from $323.00 to $345.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. BNP Paribas Exane restated an “outperform” rating and set a $345.00 price target (up from $330.00) on shares of Ecolab in a research note on Thursday, February 12th. Evercore restated an “outperform” rating and set a $312.00 price target on shares of Ecolab in a research note on Wednesday, February 18th. Weiss Ratings downgraded Ecolab from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, April 21st. Finally, Berenberg Bank upgraded Ecolab from a “hold” rating to a “buy” rating and set a $326.00 price target on the stock in a research note on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Ecolab has a consensus rating of “Moderate Buy” and a consensus target price of $322.82.
Get Our Latest Research Report on ECL
Insider Activity at Ecolab
In other Ecolab news, CEO Christophe Beck sold 20,000 shares of Ecolab stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 90,794 shares in the company, valued at approximately $27,907,351.78. This trade represents a 18.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 completion of the transaction, the director 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.50% of the company’s stock.
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.
Featured Articles
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.
