Beacon Investment Advisory Services Inc. purchased a new position in Ecolab Inc. (NYSE:ECL – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 20,902 shares of the basic materials company’s stock, valued at approximately $5,824,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC lifted its stake in shares of Ecolab by 3.6% in the 4th quarter. Turtle Creek Wealth Advisors LLC now owns 1,028 shares of the basic materials company’s stock worth $270,000 after acquiring an additional 36 shares during the period. HBK Sorce Advisory LLC raised its holdings in Ecolab by 2.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 1,362 shares of the basic materials company’s stock worth $395,000 after purchasing an additional 36 shares in the last quarter. Steigerwald Gordon & Koch Inc. raised its holdings in Ecolab by 22.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 211 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 38 shares in the last quarter. Addison Advisors LLC lifted its position in Ecolab by 5.2% in the fourth quarter. Addison Advisors LLC now owns 764 shares of the basic materials company’s stock valued at $201,000 after purchasing an additional 38 shares during the period. Finally, CYBER HORNET ETFs LLC boosted its holdings in Ecolab by 5.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 730 shares of the basic materials company’s stock valued at $192,000 after purchasing an additional 38 shares in the last quarter. 74.91% of the stock is owned by hedge funds and other institutional investors.
Ecolab Stock Performance
ECL opened at $284.86 on Friday. Ecolab Inc. has a 1-year low of $243.15 and a 1-year high of $309.27. The stock has a market cap of $80.17 billion, a P/E ratio of 38.24, a P/E/G ratio of 2.45 and a beta of 0.88. The stock’s 50 day simple moving average is $272.17 and its 200 day simple moving average is $273.76. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.84 and a quick ratio of 1.57.
Ecolab Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, September 15th. Ecolab’s dividend payout ratio (DPR) is 39.19%.
Insider Activity at Ecolab
In other Ecolab news, Director Michel D. Doukeris purchased 7,750 shares of Ecolab stock in a transaction on Wednesday, June 10th. The shares were bought at an average price of $258.00 per share, with a total value of $1,999,500.00. Following the completion of the acquisition, the director directly owned 8,326 shares of the company’s stock, valued at approximately $2,148,108. This trade represents a 1,345.49% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Maclennan purchased 1,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average price of $250.65 per share, for a total transaction of $250,650.00. Following the completion of the transaction, the director directly owned 25,230 shares of the company’s stock, valued at approximately $6,323,899.50. The trade was a 4.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 9,750 shares of company stock valued at $2,513,980 in the last quarter. 0.50% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on ECL. Robert W. Baird set a $305.00 target price on Ecolab in a research note on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price target on Ecolab from $295.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Jefferies Financial Group dropped their price objective on Ecolab from $352.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Citigroup raised their target price on Ecolab from $325.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Finally, Wells Fargo & Company boosted their target price on shares of Ecolab from $275.00 to $295.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Ecolab currently has a consensus rating of “Moderate Buy” and an average target price of $327.56.
Ecolab Company 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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