Forbes J M & Co. LLP Reduces Stock Position in Ecolab Inc. (NYSE:ECL)

Forbes J M & Co. LLP cut its holdings in Ecolab Inc. (NYSE:ECLFree Report) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,687 shares of the basic materials company’s stock after selling 448 shares during the quarter. Forbes J M & Co. LLP’s holdings in Ecolab were worth $7,317,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ECL. First Personal Financial Services acquired a new stake in Ecolab during the fourth quarter worth approximately $26,000. Hexagon Capital Partners LLC raised its stake in Ecolab by 150.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 135 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 81 shares during the period. Motco purchased a new position in Ecolab during the fourth quarter worth approximately $28,000. Fortitude Family Office LLC purchased a new position in Ecolab during the fourth quarter worth approximately $29,000. Finally, Rise Advisors LLC raised its stake in Ecolab by 2,042.9% during the first quarter. Rise Advisors LLC now owns 150 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 143 shares during the period. 74.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ECL. Stifel Nicolaus raised their target price on shares of Ecolab from $225.00 to $233.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Citigroup raised their price objective on shares of Ecolab from $256.00 to $257.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Piper Sandler began coverage on shares of Ecolab in a report on Wednesday, April 3rd. They issued an “overweight” rating and a $260.00 price target for the company. Raymond James lifted their price target on shares of Ecolab from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Finally, UBS Group boosted their target price on shares of Ecolab from $269.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Ecolab presently has an average rating of “Hold” and an average price target of $239.56.

Read Our Latest Report on ECL

Ecolab Stock Performance

Shares of Ecolab stock traded up $0.10 on Friday, reaching $243.99. The stock had a trading volume of 3,663,747 shares, compared to its average volume of 1,012,147. The stock has a market cap of $69.68 billion, a P/E ratio of 45.18, a price-to-earnings-growth ratio of 2.58 and a beta of 1.12. Ecolab Inc. has a fifty-two week low of $156.72 and a fifty-two week high of $245.73. The business’s 50-day moving average price is $231.56 and its two-hundred day moving average price is $217.76. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.99 and a current ratio of 1.41.

Ecolab (NYSE:ECLGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Ecolab had a net margin of 10.01% and a return on equity of 20.56%. The company had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the prior year, the company posted $0.88 EPS. The business’s revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts forecast that Ecolab Inc. will post 6.59 EPS for the current year.

Ecolab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 18th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Tuesday, June 18th. Ecolab’s dividend payout ratio is currently 42.22%.

Insiders Place Their Bets

In related news, Director David Maclennan acquired 650 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $227.37 per share, with a total value of $147,790.50. Following the acquisition, the director now directly owns 17,111 shares in the company, valued at $3,890,528.07. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Arthur J. Higgins sold 4,500 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $227.52, for a total value of $1,023,840.00. Following the sale, the director now directly owns 25,548 shares in the company, valued at approximately $5,812,680.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Maclennan purchased 650 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $227.37 per share, for a total transaction of $147,790.50. Following the completion of the transaction, the director now directly owns 17,111 shares in the company, valued at $3,890,528.07. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Ecolab Profile

(Free Report)

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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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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