Danica Pension Livsforsikringsaktieselskab bought a new stake in Ecolab Inc. (NYSE:ECL – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 38,226 shares of the basic materials company’s stock, valued at approximately $10,650,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC boosted its holdings in Ecolab by 3.6% in the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 1,028 shares of the basic materials company’s stock worth $270,000 after acquiring an additional 36 shares in the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of Ecolab by 2.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 1,362 shares of the basic materials company’s stock valued at $395,000 after acquiring an additional 36 shares in the last quarter. Addison Advisors LLC increased its holdings in shares of Ecolab by 5.2% during the fourth quarter. Addison Advisors LLC now owns 764 shares of the basic materials company’s stock valued at $201,000 after acquiring an additional 38 shares in the last quarter. CYBER HORNET ETFs LLC raised its position in shares of Ecolab by 5.5% during the fourth quarter. CYBER HORNET ETFs LLC now owns 730 shares of the basic materials company’s stock worth $192,000 after purchasing an additional 38 shares during the period. Finally, Rothschild Investment LLC lifted its holdings in shares of Ecolab by 9.0% in the 4th quarter. Rothschild Investment LLC now owns 486 shares of the basic materials company’s stock worth $128,000 after purchasing an additional 40 shares in the last quarter. 74.91% of the stock is owned by institutional investors and hedge funds.
Ecolab Stock Up 1.6%
Shares of NYSE:ECL opened at $280.36 on Wednesday. The business’s 50 day moving average is $275.33 and its 200 day moving average is $273.66. 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 $78.59 billion, a price-to-earnings ratio of 37.63, a PEG ratio of 2.38 and a beta of 0.88. The company has a quick ratio of 1.57, a current ratio of 1.84 and a debt-to-equity ratio of 1.18.
Ecolab Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Ecolab’s dividend payout ratio (DPR) is presently 39.19%.
Insider Activity
In other Ecolab news, Director Suzanne M. Vautrinot sold 1,004 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $264.98, for a total value of $266,039.92. Following the completion of the sale, the director owned 11,651 shares in the company, valued at approximately $3,087,281.98. This trade represents a 7.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Darrell R. Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were 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 of the company’s stock, valued at approximately $8,539,712.37. This represents a 23.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.50% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several analysts recently issued reports on ECL shares. Citigroup lifted their price target on shares of Ecolab from $325.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Ecolab from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Bank of America raised their price objective on shares of Ecolab from $337.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Oppenheimer upgraded shares of Ecolab from a “market perform” rating to an “outperform” rating and set a $320.00 price objective for the company in a report on Friday, July 17th. Finally, Jefferies Financial Group decreased 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. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Ecolab has an average rating of “Moderate Buy” and a consensus target price of $327.56.
Get Our Latest Stock Analysis on ECL
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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