Montecito Bank & Trust reduced its stake in Ecolab Inc. (NYSE:ECL) by 4.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,706 shares of the basic materials company’s stock after selling 385 shares during the period. Montecito Bank & Trust’s holdings in Ecolab were worth $1,521,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Harfst & Associates Inc. grew its position in Ecolab by 3.5% during the 1st quarter. Harfst & Associates Inc. now owns 1,638 shares of the basic materials company’s stock worth $289,000 after acquiring an additional 55 shares during the last quarter. Cadence Bank NA grew its position in Ecolab by 1.4% during the 1st quarter. Cadence Bank NA now owns 4,110 shares of the basic materials company’s stock worth $725,000 after acquiring an additional 57 shares during the last quarter. Sowell Financial Services LLC grew its position in Ecolab by 1.6% during the 4th quarter. Sowell Financial Services LLC now owns 3,824 shares of the basic materials company’s stock worth $564,000 after acquiring an additional 60 shares during the last quarter. Page Arthur B grew its position in Ecolab by 4.1% during the 1st quarter. Page Arthur B now owns 1,510 shares of the basic materials company’s stock worth $267,000 after acquiring an additional 60 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its position in Ecolab by 1.2% during the 1st quarter. Cullen Frost Bankers Inc. now owns 5,021 shares of the basic materials company’s stock worth $886,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

ECL has been the topic of a number of research analyst reports. UBS Group lowered Advanced Disposal Services from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Wednesday, May 1st. They noted that the move was a valuation call. BMO Capital Markets upgraded TMAC Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 2nd. Nomura set a $42.00 price target on General Motors and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Bank of America reiterated a “buy” rating and issued a $105.00 price objective (up from $100.00) on shares of Zendesk in a research report on Wednesday, May 1st. Finally, Argus increased their price objective on Thermo Fisher Scientific from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $180.93.

In other news, EVP Jill S. Wyant sold 29,300 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $179.14, for a total value of $5,248,802.00. Following the transaction, the executive vice president now owns 34,718 shares of the company’s stock, valued at approximately $6,219,382.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy P. Mulhere sold 10,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $198.17, for a total value of $1,981,700.00. Following the sale, the executive vice president now directly owns 13,066 shares in the company, valued at approximately $2,589,289.22. The disclosure for this sale can be found here. In the last three months, insiders sold 76,519 shares of company stock worth $14,253,673. 1.52% of the stock is currently owned by company insiders.

Shares of ECL stock traded up $2.72 during trading hours on Tuesday, reaching $199.96. The company had a trading volume of 594,700 shares, compared to its average volume of 1,076,459. The firm’s 50 day simple moving average is $195.90. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.75 and a current ratio of 1.14. The firm has a market capitalization of $56.85 billion, a price-to-earnings ratio of 38.09, a price-to-earnings-growth ratio of 2.68 and a beta of 0.84. Ecolab Inc. has a 1-year low of $135.77 and a 1-year high of $200.93.

Ecolab (NYSE:ECL) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.01. The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.57 billion. Ecolab had a return on equity of 19.50% and a net margin of 10.06%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 EPS. On average, equities analysts predict that Ecolab Inc. will post 5.9 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Monday, June 17th. Ecolab’s dividend payout ratio (DPR) is currently 35.05%.

About Ecolab

Ecolab Inc provides water, hygiene, and energy technologies and services worldwide. The company operates through Global Industrial, Global Institutional, Global Energy, and Other segments. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions primarily to industrial customers within the manufacturing, food and beverage processing, transportation, chemical, primary metals and mining, power generation, pulp and paper, pharmaceutical, and commercial laundry.

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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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