Nvest Financial LLC grew its stake in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 59.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,394 shares of the basic materials company’s stock after acquiring an additional 2,378 shares during the period. Nvest Financial LLC’s holdings in Ecolab were worth $1,781,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in ECL. HBK Sorce Advisory LLC raised its stake in shares of Ecolab by 2.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 1,362 shares of the basic materials company’s stock valued at $395,000 after purchasing an additional 36 shares during the period. Addison Advisors LLC boosted its stake in Ecolab by 5.2% in the 4th quarter. Addison Advisors LLC now owns 764 shares of the basic materials company’s stock worth $201,000 after purchasing an additional 38 shares during the period. CYBER HORNET ETFs LLC boosted its stake in Ecolab by 5.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 730 shares of the basic materials company’s stock worth $192,000 after purchasing an additional 38 shares during the period. Rothschild Investment LLC grew its holdings in Ecolab by 9.0% during the 4th quarter. Rothschild Investment LLC now owns 486 shares of the basic materials company’s stock valued at $128,000 after buying an additional 40 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its position in shares of Ecolab by 23.7% during the fourth quarter. Golden State Wealth Management LLC now owns 209 shares of the basic materials company’s stock valued at $55,000 after buying an additional 40 shares during the period. 74.91% of the stock is owned by institutional investors.
Ecolab Stock Performance
Shares of ECL opened at $279.91 on Friday. The company has a market cap of $78.47 billion, a PE ratio of 37.57, a price-to-earnings-growth ratio of 2.71 and a beta of 0.88. The company has a current ratio of 1.84, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18. The stock has a 50-day moving average price of $278.82 and a 200-day moving average price of $273.17. Ecolab Inc. has a 12-month low of $243.15 and a 12-month high of $309.27.
Ecolab Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.73 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.92 annualized dividend and a dividend yield of 1.0%. Ecolab’s dividend payout ratio (DPR) is 39.19%.
Insider Activity at Ecolab
In related news, CEO Christophe Beck sold 17,862 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $280.14, for a total value of $5,003,860.68. Following the transaction, the chief executive officer owned 72,932 shares of the company’s stock, valued at $20,431,170.48. This represents a 19.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Benjamin Clark acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $263.83 per share, for a total transaction of $263,830.00. Following the completion of the acquisition, the executive vice president owned 1,083 shares in the company, valued at $285,727.89. This represents a 1,204.82% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.50% of the company’s stock.
Analyst Ratings Changes
ECL has been the topic of a number of recent analyst reports. Oppenheimer raised shares of Ecolab from a “market perform” rating to an “outperform” rating and set a $320.00 price target on the stock in a report on Friday, July 17th. Weiss Ratings raised shares of Ecolab from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. Mizuho increased their target price on shares of Ecolab from $325.00 to $327.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Wells Fargo & Company raised their price target on shares of Ecolab from $275.00 to $295.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Finally, Jefferies Financial Group reduced their price target on shares of Ecolab from $352.00 to $345.00 and set a “buy” rating for the company 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, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $327.56.
Read Our Latest Analysis on ECL
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.
Recommended Stories
- Five stocks we like better than Ecolab
- Zscaler’s Strong Quarter Still Left Investors Waiting on 1 Key Signal
- Is Duolingo the Next Netflix-Style Comeback Story?
- GitLab’s AI Tools Are Starting to Turn Developer Demand Into Real Revenue
- GTA VI’s Console Problem Isn’t Take-Two’s Problem
Receive News & Ratings for Ecolab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecolab and related companies with MarketBeat.com's FREE daily email newsletter.
