EFG International AG purchased a new position in Ecolab Inc. (NYSE:ECL – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,434 shares of the basic materials company’s stock, valued at approximately $957,000.
Other institutional investors also recently bought and sold shares of the company. Wexford Capital LP bought a new position in shares of Ecolab in the third quarter worth approximately $25,000. JPL Wealth Management LLC bought a new stake in shares of Ecolab during the third quarter valued at approximately $26,000. Costello Asset Management INC bought a new stake in shares of Ecolab during the first quarter valued at approximately $27,000. Kemnay Advisory Services Inc. purchased a new position in Ecolab in the 4th quarter worth approximately $27,000. Finally, J.Safra Asset Management Corp purchased a new position in Ecolab in the 2nd quarter worth approximately $28,000. 74.91% of the stock is owned by hedge funds and other institutional investors.
Ecolab Trading Up 0.5%
NYSE:ECL opened at $290.87 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18. Ecolab Inc. has a 12 month low of $243.15 and a 12 month high of $309.27. The company has a market cap of $81.54 billion, a PE ratio of 39.04, a price-to-earnings-growth ratio of 2.50 and a beta of 0.88. The company has a 50 day simple moving average of $277.68 and a two-hundred day simple moving average of $273.73.
Ecolab Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, September 15th. Ecolab’s dividend payout ratio is 39.19%.
Insider Transactions at Ecolab
In other news, CEO Christophe Beck sold 17,862 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $280.14, for a total transaction of $5,003,860.68. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Benjamin M. Clark acquired 1,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $263.83 per share, for a total transaction of $263,830.00. Following the purchase, the executive vice president directly owned 1,083 shares in the company, valued at approximately $285,727.89. This trade represents a 1,204.82% 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 owned by company insiders.
Wall Street Analysts Forecast Growth
ECL has been the topic of several recent analyst reports. Jefferies Financial Group cut their target price on Ecolab from $352.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Mizuho boosted their price target on Ecolab from $325.00 to $327.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. UBS Group reaffirmed a “buy” rating and set a $342.00 price target on shares of Ecolab in a report on Wednesday, July 29th. BMO Capital Markets increased their price objective on Ecolab from $345.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $337.00 price objective on shares of Ecolab in a report on Tuesday, July 7th. One equities 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.56.
View Our Latest Analysis on Ecolab
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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