Two Sigma Securities LLC bought a new position in shares of Ecolab Inc. (NYSE:ECL – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,680 shares of the basic materials company’s stock, valued at approximately $1,304,000.
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Ecolab in the 2nd quarter valued at $6,422,340,000. JPMorgan Chase & Co. boosted its stake in Ecolab by 63.1% in the fourth quarter. JPMorgan Chase & Co. now owns 10,622,035 shares of the basic materials company’s stock valued at $2,788,497,000 after acquiring an additional 4,110,472 shares in the last quarter. Morgan Stanley grew its holdings in shares of Ecolab by 5.9% during the fourth quarter. Morgan Stanley now owns 7,883,084 shares of the basic materials company’s stock worth $2,069,468,000 after purchasing an additional 441,747 shares during the last quarter. Corient Private Wealth LP acquired a new stake in shares of Ecolab during the second quarter worth about $244,381,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Ecolab by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 5,635,339 shares of the basic materials company’s stock valued at $1,472,599,000 after purchasing an additional 46,569 shares during the last quarter. Hedge funds and other institutional investors own 74.91% of the company’s stock.
Ecolab Stock Down 1.3%
ECL stock opened at $283.13 on Tuesday. The stock has a market capitalization of $79.37 billion, a PE ratio of 38.00, a price-to-earnings-growth ratio of 2.48 and a beta of 0.88. The company has a fifty day moving average of $278.64 and a 200-day moving average of $273.58. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.57 and a current ratio of 1.84. Ecolab Inc. has a one year low of $243.15 and a one year high of $309.27.
Ecolab Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Ecolab’s dividend payout ratio (DPR) is currently 39.19%.
Insiders Place Their Bets
In other Ecolab news, EVP Benjamin M. Clark purchased 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 purchase, the executive vice president directly owned 1,083 shares in the company, valued at $285,727.89. This represents a 1,204.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michel D. Doukeris acquired 7,750 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were acquired at an average cost of $258.00 per share, for a total transaction of $1,999,500.00. Following the acquisition, the director directly owned 8,326 shares of the company’s stock, valued at $2,148,108. This trade represents a 1,345.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.50% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Royal Bank Of Canada restated an “outperform” rating and set a $337.00 price target on shares of Ecolab in a research note on Tuesday, July 7th. Zacks Research downgraded Ecolab from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. JPMorgan Chase & Co. raised their target price on shares of Ecolab from $295.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Jefferies Financial Group cut their target price 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. Finally, Wells Fargo & Company increased their price target on shares of Ecolab from $275.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $327.56.
Read Our Latest Stock Analysis on ECL
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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