Kestra Advisory Services LLC reduced its holdings in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 25.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,965 shares of the basic materials company’s stock after selling 6,259 shares during the period. Kestra Advisory Services LLC’s holdings in Ecolab were worth $4,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of Ecolab by 63.1% in the 4th quarter. JPMorgan Chase & Co. now owns 10,622,035 shares of the basic materials company’s stock valued at $2,788,497,000 after purchasing an additional 4,110,472 shares during the last quarter. Capital World Investors acquired a new position in Ecolab during the 4th quarter valued at approximately $1,022,334,000. Norges Bank purchased a new position in shares of Ecolab in the fourth quarter worth $880,506,000. Auto Owners Insurance Co raised its holdings in shares of Ecolab by 26,152.0% in the fourth quarter. Auto Owners Insurance Co now owns 945,072 shares of the basic materials company’s stock worth $24,810,000 after buying an additional 941,472 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Ecolab by 104.7% during the fourth quarter. Janus Henderson Group PLC now owns 1,591,274 shares of the basic materials company’s stock worth $417,747,000 after buying an additional 813,996 shares during the period. Hedge funds and other institutional investors own 74.91% of the company’s stock.
Ecolab Stock Performance
Shares of ECL stock opened at $275.57 on Friday. Ecolab Inc. has a 52-week low of $243.15 and a 52-week high of $309.27. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market cap of $77.56 billion, a PE ratio of 37.29, a price-to-earnings-growth ratio of 2.36 and a beta of 0.89. The business has a 50-day simple moving average of $264.59 and a 200-day simple moving average of $273.03.
Ecolab Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 16th were issued a $0.73 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.92 dividend on an annualized basis and a yield of 1.1%. Ecolab’s payout ratio is presently 39.51%.
Insider Activity
In other Ecolab news, EVP Benjamin M. Clark bought 1,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 1,083 shares of the company’s stock, valued at approximately $285,727.89. The trade was a 1,204.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michel D. Doukeris acquired 7,750 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was purchased at an average price of $258.00 per share, for a total transaction of $1,999,500.00. Following the completion of the acquisition, the director owned 8,326 shares in the company, valued at $2,148,108. The trade was a 1,345.49% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 10,550 shares of company stock worth $2,719,508. 0.50% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on ECL shares. UBS Group raised Ecolab from a “neutral” rating to a “buy” rating and upped their target price for the company from $293.00 to $325.00 in a research report on Wednesday, May 27th. Jefferies Financial Group dropped their price target on Ecolab from $352.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft increased their price objective on Ecolab from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. upgraded Ecolab from a “neutral” rating to an “overweight” rating and set a $295.00 price objective for the company in a research note on Tuesday, March 24th. Finally, Robert W. Baird dropped their target price on Ecolab from $320.00 to $296.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $324.29.
Check Out Our Latest Report 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.
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