Texas Capital Bank Wealth Management Services Inc bought a new position in Ecolab Inc. (NYSE:ECL – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 2,146 shares of the basic materials company’s stock, valued at approximately $598,000.
Several other large investors have also recently made changes to their positions in ECL. Vanguard Group Inc. raised its position in Ecolab by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 25,327,693 shares of the basic materials company’s stock worth $6,649,026,000 after purchasing an additional 137,578 shares during the period. BlackRock Inc. purchased a new stake in Ecolab during the second quarter valued at about $6,422,340,000. JPMorgan Chase & Co. grew its stake in shares of Ecolab by 63.1% during the fourth quarter. JPMorgan Chase & Co. now owns 10,622,035 shares of the basic materials company’s stock valued at $2,788,497,000 after buying an additional 4,110,472 shares during the last quarter. Morgan Stanley grew its stake in shares of Ecolab by 5.9% during the fourth quarter. Morgan Stanley now owns 7,883,084 shares of the basic materials company’s stock valued at $2,069,468,000 after buying an additional 441,747 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Ecolab by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 5,635,339 shares of the basic materials company’s stock worth $1,472,599,000 after buying an additional 46,569 shares during the period. 74.91% of the stock is owned by hedge funds and other institutional investors.
Ecolab Trading Down 0.1%
ECL opened at $275.87 on Tuesday. Ecolab Inc. has a one year low of $243.15 and a one year high of $309.27. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.84 and a quick ratio of 1.57. The business has a 50 day simple moving average of $275.00 and a two-hundred day simple moving average of $273.67. The firm has a market capitalization of $77.33 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 2.38 and a beta of 0.88.
Ecolab Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be issued a $0.73 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $2.92 annualized dividend and a yield of 1.1%. Ecolab’s payout ratio is 39.19%.
Insider Activity at Ecolab
In related news, EVP Benjamin M. Clark bought 1,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $263.83 per share, with a total value of $263,830.00. Following the transaction, the executive vice president owned 1,083 shares in the company, valued at approximately $285,727.89. This trade represents a 1,204.82% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Darrell R. Brown sold 10,000 shares of Ecolab stock in a transaction dated Tuesday, June 9th. The shares were 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 in the company, valued at $8,539,712.37. The trade was a 23.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.50% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on ECL shares. Jefferies Financial Group dropped their target price on Ecolab from $352.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft lifted their price target on Ecolab from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Mizuho boosted their price objective on Ecolab from $325.00 to $327.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Oppenheimer raised Ecolab from a “market perform” rating to an “outperform” rating and set a $320.00 price objective for the company in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Ecolab from $295.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ecolab presently has a consensus rating of “Moderate Buy” and a consensus target price of $327.56.
Get Our Latest Research Report 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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