Rakuten Investment Management Inc. cut its position in Ecolab Inc. (NYSE:ECL – Free Report) by 32.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,548 shares of the basic materials company’s stock after selling 15,867 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Ecolab were worth $8,908,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in ECL. Brighton Jones LLC grew its stake in shares of Ecolab by 164.7% in the fourth quarter. Brighton Jones LLC now owns 3,700 shares of the basic materials company’s stock valued at $867,000 after buying an additional 2,302 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of Ecolab by 39.8% in the second quarter. Sivia Capital Partners LLC now owns 1,384 shares of the basic materials company’s stock valued at $373,000 after buying an additional 394 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in shares of Ecolab by 22.9% in the second quarter. Schnieders Capital Management LLC. now owns 1,166 shares of the basic materials company’s stock valued at $314,000 after buying an additional 217 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Ecolab by 0.8% in the second quarter. NewEdge Advisors LLC now owns 21,096 shares of the basic materials company’s stock valued at $5,684,000 after buying an additional 171 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Ecolab by 49.4% during the second quarter. CIBC Asset Management Inc now owns 58,421 shares of the basic materials company’s stock worth $15,741,000 after purchasing an additional 19,324 shares during the period. 74.91% of the stock is owned by institutional investors.
Ecolab Stock Performance
Shares of NYSE:ECL opened at $274.15 on Wednesday. The company’s 50 day moving average price is $261.28 and its two-hundred day moving average price is $271.25. Ecolab Inc. has a 12-month low of $243.15 and a 12-month high of $309.27. The firm has a market cap of $77.16 billion, a PE ratio of 37.10, a PEG ratio of 2.22 and a beta of 0.90. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.
Ecolab Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 16th will be given a dividend of $0.73 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.92 annualized dividend and a yield of 1.1%. Ecolab’s dividend payout ratio is currently 39.51%.
Analysts Set New Price Targets
ECL has been the subject of a number of research analyst reports. Berenberg Bank raised shares of Ecolab from a “hold” rating to a “buy” rating and set a $326.00 price objective for the company in a research report on Monday, March 16th. Weiss Ratings cut shares of Ecolab from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 20th. Evercore reaffirmed an “outperform” rating and set a $312.00 price objective on shares of Ecolab in a research report on Wednesday, February 18th. UBS Group raised shares of Ecolab from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $293.00 to $325.00 in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group reduced their price objective on shares of Ecolab from $352.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $323.41.
Insider Buying and Selling at Ecolab
In other news, EVP Benjamin M. Clark acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price of $263.83 per share, with a total value of $263,830.00. Following the completion of the transaction, the executive vice president directly owned 1,083 shares of the company’s stock, valued at $285,727.89. This trade represents a 1,204.82% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Darrell R. Brown sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $260.89, for a total transaction of $2,608,900.00. Following the sale, the chief operating officer directly owned 32,733 shares of the company’s stock, valued at $8,539,712.37. This represents a 23.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have purchased a total of 10,550 shares of company stock valued at $2,719,508 over the last three months. 0.50% of the stock is owned by insiders.
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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