LGT Fund Management Co Ltd. grew its holdings in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 437.7% during the first quarter, Holdings Channel reports. The firm owned 4,780 shares of the basic materials company’s stock after acquiring an additional 3,891 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Ecolab were worth $1,272,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of ECL. Diversify Wealth Management LLC bought a new position in Ecolab in the first quarter worth about $513,000. Valmark Advisers Inc. grew its holdings in shares of Ecolab by 14.7% during the first quarter. Valmark Advisers Inc. now owns 911 shares of the basic materials company’s stock valued at $242,000 after purchasing an additional 117 shares during the last quarter. Pittenger & Anderson Inc. raised its position in shares of Ecolab by 54.1% during the 1st quarter. Pittenger & Anderson Inc. now owns 28,701 shares of the basic materials company’s stock worth $7,635,000 after purchasing an additional 10,081 shares during the period. 180 Wealth Advisors LLC raised its position in shares of Ecolab by 16.8% during the 1st quarter. 180 Wealth Advisors LLC now owns 897 shares of the basic materials company’s stock worth $239,000 after purchasing an additional 129 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its holdings in shares of Ecolab by 4.1% in the 1st quarter. Citizens Financial Group Inc. RI now owns 10,198 shares of the basic materials company’s stock worth $2,713,000 after purchasing an additional 404 shares during the last quarter. 74.91% of the stock is currently owned by institutional investors.
Ecolab Trading Up 0.1%
NYSE:ECL opened at $274.60 on Monday. The stock has a market cap of $77.28 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 2.40 and a beta of 0.89. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.73 and a current ratio of 0.99. Ecolab Inc. has a 1 year low of $243.15 and a 1 year high of $309.27. The business has a fifty day moving average of $263.62 and a 200-day moving average of $272.85.
Ecolab Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 16th. Ecolab’s payout ratio is 39.51%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on ECL shares. Weiss Ratings lowered Ecolab from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 20th. Citigroup raised their target price on Ecolab from $325.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. 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. UBS Group upgraded shares of Ecolab from a “neutral” rating to a “buy” rating and upped their price target for the stock from $293.00 to $325.00 in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group dropped their price objective on shares of Ecolab from $352.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. One 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 stock. According to MarketBeat.com, Ecolab has an average rating of “Moderate Buy” and an average price target of $324.29.
Insider Buying and Selling
In related news, Director Suzanne M. Vautrinot sold 1,004 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $264.98, for a total transaction of $266,039.92. Following the sale, the director owned 11,651 shares of the company’s stock, valued at $3,087,281.98. The trade was a 7.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Darrell R. Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $260.89, for a total value of $2,608,900.00. Following the completion of the sale, the chief operating officer owned 32,733 shares of the company’s stock, valued at $8,539,712.37. This trade represents a 23.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders acquired 10,550 shares of company stock worth $2,719,508. Company insiders own 0.50% of the company’s stock.
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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