Intech Investment Management LLC trimmed its holdings in Ecolab Inc. (NYSE:ECL – Free Report) by 37.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 12,776 shares of the basic materials company’s stock after selling 7,728 shares during the quarter. Intech Investment Management LLC’s holdings in Ecolab were worth $3,499,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Ecolab by 164.7% in the 4th 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 during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Ecolab by 39.8% during the second quarter. Sivia Capital Partners LLC now owns 1,384 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 394 shares during the period. Schnieders Capital Management LLC. grew its position in Ecolab by 22.9% in the 2nd 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 last quarter. Arkadios Wealth Advisors increased its stake in Ecolab by 3.9% in the 2nd quarter. Arkadios Wealth Advisors now owns 4,716 shares of the basic materials company’s stock valued at $1,271,000 after buying an additional 179 shares during the period. Finally, HBK Sorce Advisory LLC raised its position in Ecolab by 5.5% during the 2nd quarter. HBK Sorce Advisory LLC now owns 1,211 shares of the basic materials company’s stock worth $326,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 74.91% of the company’s stock.
Ecolab Price Performance
Ecolab stock opened at $308.06 on Monday. The firm has a market capitalization of $86.86 billion, a PE ratio of 42.32, a P/E/G ratio of 2.53 and a beta of 0.97. Ecolab Inc. has a 52 week low of $221.62 and a 52 week high of $309.27. The firm’s 50-day simple moving average is $282.85 and its 200 day simple moving average is $274.14. The company has a quick ratio of 0.81, a current ratio of 1.08 and a debt-to-equity ratio of 0.75.
Ecolab Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 17th will be paid a $0.73 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.92 dividend on an annualized basis and a yield of 0.9%. Ecolab’s dividend payout ratio is presently 40.11%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Ecolab from $300.00 to $337.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Erste Group Bank lowered Ecolab from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Citigroup increased their target price on Ecolab from $324.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Evercore reissued an “outperform” rating and issued a $312.00 price target on shares of Ecolab in a report on Wednesday, February 18th. Finally, Mizuho set a $335.00 price objective on Ecolab in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.56.
Insider Buying and Selling at Ecolab
In related news, Director David Maclennan purchased 750 shares of the company’s stock in a transaction on Monday, December 8th. The stock was bought at an average price of $257.60 per share, with a total value of $193,200.00. Following the completion of the transaction, the director owned 23,035 shares of the company’s stock, valued at approximately $5,933,816. This represents a 3.37% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christophe Beck sold 20,000 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $307.37, for a total value of $6,147,400.00. Following the completion of the transaction, the chief executive officer directly owned 90,794 shares of the company’s stock, valued at approximately $27,907,351.78. This trade represents a 18.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.50% of the stock is owned by insiders.
About Ecolab
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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