Lombard Odier Asset Management Europe Ltd lessened its position in Ecolab Inc. (NYSE:ECL – Free Report) by 28.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 72,943 shares of the basic materials company’s stock after selling 29,150 shares during the quarter. Ecolab makes up about 1.1% of Lombard Odier Asset Management Europe Ltd’s holdings, making the stock its 23rd biggest holding. Lombard Odier Asset Management Europe Ltd’s holdings in Ecolab were worth $19,404,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Ecolab by 164.7% in the fourth quarter. Brighton Jones LLC now owns 3,700 shares of the basic materials company’s stock valued at $867,000 after purchasing an additional 2,302 shares in the last quarter. Sivia Capital Partners LLC raised its position in Ecolab by 39.8% during the second quarter. Sivia Capital Partners LLC now owns 1,384 shares of the basic materials company’s stock valued at $373,000 after buying an additional 394 shares during the period. Schnieders Capital Management LLC. raised its position in Ecolab by 22.9% during the second quarter. Schnieders Capital Management LLC. now owns 1,166 shares of the basic materials company’s stock valued at $314,000 after buying an additional 217 shares during the period. NewEdge Advisors LLC lifted its stake in Ecolab by 0.8% in the 2nd quarter. NewEdge Advisors LLC now owns 21,096 shares of the basic materials company’s stock worth $5,684,000 after acquiring an additional 171 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Ecolab by 49.4% during the 2nd quarter. CIBC Asset Management Inc now owns 58,421 shares of the basic materials company’s stock worth $15,741,000 after acquiring an additional 19,324 shares during the period. 74.91% of the stock is currently owned by hedge funds and other institutional investors.
Ecolab Stock Up 2.1%
Shares of ECL stock opened at $268.73 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.73. The stock has a fifty day moving average price of $266.62 and a 200 day moving average price of $273.12. Ecolab Inc. has a one year low of $243.15 and a one year high of $309.27. The stock has a market cap of $75.63 billion, a P/E ratio of 36.36, a price-to-earnings-growth ratio of 2.34 and a beta of 0.89.
Ecolab Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 16th were given a $0.73 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.92 annualized dividend and a dividend yield of 1.1%. Ecolab’s dividend payout ratio is presently 39.51%.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on ECL shares. Oppenheimer upgraded Ecolab from a “market perform” rating to an “outperform” rating and set a $320.00 target price on the stock in a report on Friday, July 17th. Jefferies Financial Group lowered their price objective 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. Royal Bank Of Canada reissued an “outperform” rating and set a $337.00 target price on shares of Ecolab in a research note on Tuesday, July 7th. Bank of America boosted their price target on shares of Ecolab from $337.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, Weiss Ratings cut Ecolab from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $324.06.
Get Our Latest Research Report on Ecolab
Insider Transactions at Ecolab
In other Ecolab news, Director David Maclennan bought 1,000 shares of Ecolab stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of $250.65 per share, with a total value of $250,650.00. Following the acquisition, the director owned 25,230 shares in the company, valued at $6,323,899.50. This trade represents a 4.13% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Benjamin M. Clark bought 1,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $263.83 per share, for a total transaction of $263,830.00. Following the transaction, the executive vice president owned 1,083 shares of the company’s stock, valued at approximately $285,727.89. The trade was a 1,204.82% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 10,550 shares of company stock worth $2,719,508. 0.50% of the stock is currently owned by insiders.
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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