Drucker Wealth 3.0 LLC reduced its position in Ecolab Inc. (NYSE:ECL – Free Report) by 13.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,249 shares of the basic materials company’s stock after selling 196 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in Ecolab were worth $335,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Aberdeen Group plc raised its stake in shares of Ecolab by 11.9% in the 2nd quarter. Aberdeen Group plc now owns 369,535 shares of the basic materials company’s stock valued at $98,854,000 after acquiring an additional 39,264 shares in the last quarter. Strong Tower Advisory Services raised its stake in shares of Ecolab by 2.5% in the 2nd quarter. Strong Tower Advisory Services now owns 12,844 shares of the basic materials company’s stock valued at $3,461,000 after acquiring an additional 317 shares in the last quarter. PDS Planning Inc bought a new position in shares of Ecolab in the 2nd quarter valued at approximately $415,000. Blue Trust Inc. raised its stake in shares of Ecolab by 14.1% in the 2nd quarter. Blue Trust Inc. now owns 3,166 shares of the basic materials company’s stock valued at $853,000 after acquiring an additional 392 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC raised its stake in shares of Ecolab by 10.3% in the 2nd quarter. Robertson Stephens Wealth Management LLC now owns 5,838 shares of the basic materials company’s stock valued at $1,577,000 after acquiring an additional 547 shares in the last quarter. 74.91% of the stock is owned by institutional investors and hedge funds.
Ecolab Stock Performance
ECL opened at $271.80 on Friday. Ecolab Inc. has a 12-month low of $221.62 and a 12-month high of $286.04. The firm has a market capitalization of $77.09 billion, a P/E ratio of 36.29, a price-to-earnings-growth ratio of 2.80 and a beta of 1.09. The stock’s 50 day moving average price is $274.05 and its two-hundred day moving average price is $263.04. The company has a quick ratio of 1.12, a current ratio of 1.44 and a debt-to-equity ratio of 0.80.
Ecolab Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 16th. Ecolab’s dividend payout ratio (DPR) is presently 34.71%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on ECL. Weiss Ratings reissued a “buy (b)” rating on shares of Ecolab in a research note on Wednesday. Oppenheimer raised Ecolab to an “outperform” rating in a research note on Wednesday, July 30th. Citigroup reissued a “buy” rating on shares of Ecolab in a research note on Monday, October 6th. Mizuho raised their target price on Ecolab from $285.00 to $305.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Finally, Robert W. Baird raised their target price on Ecolab from $300.00 to $306.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Ecolab currently has an average rating of “Moderate Buy” and a consensus target price of $292.29.
Read Our Latest Research Report on Ecolab
Insider Transactions at Ecolab
In other news, Director David Maclennan acquired 600 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were bought at an average price of $278.51 per share, with a total value of $167,106.00. Following the acquisition, the director owned 20,253 shares of the company’s stock, valued at $5,640,663.03. This trade represents a 3.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Suzanne M. Vautrinot sold 1,354 shares of Ecolab stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $283.16, for a total value of $383,398.64. Following the sale, the director directly owned 11,199 shares in the company, valued at $3,171,108.84. The trade was a 10.79% decrease in their position. The disclosure for this sale can be found here. 0.04% of the stock is owned by insiders.
Ecolab Profile
Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through three segments: Global Industrial; Global Institutional & Specialty; and Global Healthcare & Life Sciences. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries.
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