Kingswood Wealth Advisors LLC lowered its holdings in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 7.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,170 shares of the basic materials company’s stock after selling 93 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Ecolab were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Saudi Central Bank bought a new position in shares of Ecolab during the 1st quarter valued at $25,000. Dunhill Financial LLC raised its holdings in shares of Ecolab by 176.7% during the 1st quarter. Dunhill Financial LLC now owns 119 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 76 shares in the last quarter. Ridgewood Investments LLC raised its holdings in shares of Ecolab by 70.6% during the 1st quarter. Ridgewood Investments LLC now owns 145 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 60 shares in the last quarter. Olde Wealth Management LLC bought a new position in shares of Ecolab during the 1st quarter valued at $38,000. Finally, Abound Financial LLC acquired a new position in Ecolab in the 1st quarter valued at $40,000. Institutional investors own 74.91% of the company’s stock.
Ecolab Stock Performance
NYSE ECL opened at $271.80 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.44 and a quick ratio of 1.12. The firm has a market capitalization of $77.09 billion, a price-to-earnings ratio of 36.29, a P/E/G ratio of 2.80 and a beta of 1.09. The company’s fifty day moving average is $274.05 and its two-hundred day moving average is $262.97. Ecolab Inc. has a 52-week low of $221.62 and a 52-week high of $286.04.
Ecolab Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 16th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, September 16th. Ecolab’s dividend payout ratio (DPR) is currently 34.71%.
Insider Activity
In other Ecolab news, Director David Maclennan bought 600 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average cost of $278.51 per share, for a total transaction of $167,106.00. Following the transaction, the director owned 20,253 shares in the company, valued at approximately $5,640,663.03. The trade was a 3.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jennifer J. Bradway sold 807 shares of Ecolab stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $279.28, for a total transaction of $225,378.96. Following the sale, the senior vice president owned 4,326 shares in the company, valued at approximately $1,208,165.28. This trade represents a 15.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.04% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research analysts recently issued reports on ECL shares. BMO Capital Markets raised their target price on shares of Ecolab from $307.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, September 8th. Mizuho raised their target price on shares of Ecolab from $285.00 to $305.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Robert W. Baird raised their target price on shares of Ecolab from $300.00 to $306.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Raymond James Financial started coverage on shares of Ecolab in a research note on Tuesday, August 26th. They issued a “market perform” rating on the stock. Finally, Oppenheimer upgraded shares of Ecolab to an “outperform” rating in a research note on Wednesday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.29.
Read Our Latest Research Report on Ecolab
Ecolab Company Profile
Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through three segments: Global Industrial; Global Institutional & Specialty; and Global Healthcare & Life Sciences. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries.
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