Man Group plc grew its holdings in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 555,187 shares of the basic materials company’s stock after acquiring an additional 8,322 shares during the period. Man Group plc’s holdings in Ecolab were worth $145,748,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Ecolab by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 25,327,693 shares of the basic materials company’s stock valued at $6,649,026,000 after acquiring an additional 137,578 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Ecolab by 63.1% in the 4th quarter. JPMorgan Chase & Co. now owns 10,622,035 shares of the basic materials company’s stock valued at $2,788,497,000 after acquiring an additional 4,110,472 shares in the last quarter. Morgan Stanley lifted its position in Ecolab by 5.9% in the 4th quarter. Morgan Stanley now owns 7,883,084 shares of the basic materials company’s stock valued at $2,069,468,000 after acquiring an additional 441,747 shares in the last quarter. Geode Capital Management LLC lifted its position in Ecolab by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 5,635,339 shares of the basic materials company’s stock valued at $1,472,599,000 after acquiring an additional 46,569 shares in the last quarter. Finally, Capital World Investors bought a new position in Ecolab in the 4th quarter valued at about $1,022,334,000. 74.91% of the stock is owned by institutional investors.
Ecolab Price Performance
Ecolab stock opened at $268.87 on Thursday. Ecolab Inc. has a 52 week low of $243.15 and a 52 week high of $309.27. The company’s 50 day moving average price is $261.32 and its two-hundred day moving average price is $271.21. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market cap of $75.67 billion, a P/E ratio of 36.38, a P/E/G ratio of 2.27 and a beta of 0.90.
Ecolab Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.73 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.92 annualized dividend and a dividend yield of 1.1%. Ecolab’s dividend payout ratio (DPR) is presently 39.51%.
Insider Activity at Ecolab
In other news, COO Darrell R. Brown sold 10,000 shares of the firm’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 transaction of $2,608,900.00. Following the completion of the sale, the chief operating officer owned 32,733 shares in the company, valued at $8,539,712.37. This trade represents a 23.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Maclennan purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were bought at an average price of $250.65 per share, with a total value of $250,650.00. Following the purchase, the director owned 25,230 shares in the company, valued at $6,323,899.50. The trade was a 4.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 10,550 shares of company stock worth $2,719,508 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.
Analyst Upgrades and Downgrades
ECL has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised shares of Ecolab from a “hold” rating to a “buy” rating and set a $325.00 price target on the stock in a research report on Monday, April 20th. Jefferies Financial Group dropped their price target on shares of Ecolab from $352.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Citigroup dropped their price target on shares of Ecolab from $330.00 to $325.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $337.00 price target on shares of Ecolab in a research report on Wednesday, May 27th. Finally, Weiss Ratings cut shares of Ecolab from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $323.41.
Check Out 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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