ING Groep NV Reduces Stake in Ecolab Inc. (ECL)
ING Groep NV trimmed its stake in shares of Ecolab Inc. (NYSE:ECL) by 67.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,359 shares of the basic materials company’s stock after selling 6,957 shares during the quarter. ING Groep NV’s holdings in Ecolab were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in ECL. Bank of New York Mellon Corp raised its position in shares of Ecolab by 84.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,752,688 shares of the basic materials company’s stock worth $526,615,000 after purchasing an additional 1,723,429 shares during the period. AustralianSuper Pty Ltd acquired a new stake in Ecolab in the 2nd quarter valued at approximately $147,206,000. Caisse DE Depot ET Placement DU Quebec increased its position in Ecolab by 46.6% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,620,682 shares of the basic materials company’s stock valued at $359,217,000 after acquiring an additional 833,015 shares during the period. Amundi Pioneer Asset Management Inc. increased its position in Ecolab by 30.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,813,341 shares of the basic materials company’s stock valued at $385,623,000 after acquiring an additional 653,809 shares during the period. Finally, Fiera Capital Corp increased its position in Ecolab by 60.3% in the 2nd quarter. Fiera Capital Corp now owns 1,006,453 shares of the basic materials company’s stock valued at $141,236,000 after acquiring an additional 378,720 shares during the period. Institutional investors and hedge funds own 76.42% of the company’s stock.
Shares of NYSE ECL opened at $153.20 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.27 and a quick ratio of 0.84. The firm has a market cap of $44.05 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 2.22 and a beta of 0.99. Ecolab Inc. has a 1 year low of $125.74 and a 1 year high of $153.62.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Tuesday, September 18th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Monday, September 17th. Ecolab’s payout ratio is currently 34.97%.
Several analysts recently commented on ECL shares. Canaccord Genuity set a $160.00 target price on Ecolab and gave the company a “buy” rating in a research report on Tuesday, May 22nd. ValuEngine cut Ecolab from a “buy” rating to a “hold” rating in a research report on Saturday, May 26th. JPMorgan Chase & Co. cut Ecolab from a “neutral” rating to an “underweight” rating in a research report on Friday, June 22nd. Nomura raised their target price on Ecolab from $136.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, June 28th. Finally, Zacks Investment Research cut Ecolab from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Ecolab presently has an average rating of “Buy” and a consensus price target of $147.00.
In other Ecolab news, EVP Roberto Inchaustegui sold 10,600 shares of the stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $145.71, for a total transaction of $1,544,526.00. Following the completion of the transaction, the executive vice president now directly owns 33,202 shares of the company’s stock, valued at approximately $4,837,863.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Darrell R. Brown sold 11,800 shares of the stock in a transaction on Friday, August 31st. The shares were sold at an average price of $150.25, for a total value of $1,772,950.00. Following the transaction, the executive vice president now directly owns 18,641 shares of the company’s stock, valued at $2,800,810.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,300 shares of company stock valued at $9,384,333. 1.50% of the stock is currently owned by corporate insiders.
Ecolab Inc provides water, hygiene, and energy technologies and services for customers worldwide. The company operates through Global Industrial, Global Institutional, and Global Energy segments. The Global Industrial segment provides water treatment and process applications, and cleaning and sanitizing solutions primarily to large industrial customers within the manufacturing, food and beverage processing, chemical, mining and primary metals, power generation, pulp and paper, and commercial laundry industries.
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