Syntax Research Inc. purchased a new position in Ecolab Inc. (NYSE:ECL – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm purchased 2,314 shares of the basic materials company’s stock, valued at approximately $645,000.
Several other hedge funds also recently modified their holdings of the business. Wexford Capital LP acquired a new stake in shares of Ecolab in the third quarter worth $25,000. JPL Wealth Management LLC acquired a new position in Ecolab during the 3rd quarter valued at $26,000. Costello Asset Management INC acquired a new position in Ecolab during the 1st quarter valued at $27,000. Kemnay Advisory Services Inc. bought a new stake in Ecolab in the 4th quarter valued at $27,000. Finally, J.Safra Asset Management Corp bought a new stake in Ecolab in the 2nd quarter valued at $28,000. 74.91% of the stock is owned by institutional investors.
Ecolab Trading Down 0.4%
Shares of Ecolab stock opened at $278.83 on Friday. Ecolab Inc. has a 52-week low of $243.15 and a 52-week high of $309.27. The firm has a market capitalization of $78.16 billion, a PE ratio of 37.43, a price-to-earnings-growth ratio of 2.71 and a beta of 0.88. 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 company’s fifty day moving average price is $278.89 and its two-hundred day moving average price is $273.13.
Ecolab Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.73 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.92 dividend on an annualized basis and a yield of 1.0%. Ecolab’s dividend payout ratio (DPR) is currently 39.19%.
Insider Buying and Selling at Ecolab
In related news, EVP Benjamin Clark acquired 1,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $263.83 per share, with a total value of $263,830.00. Following the completion of the acquisition, the executive vice president owned 1,083 shares of the company’s stock, valued at $285,727.89. This trade represents a 1,204.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Darrell Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $260.89, for a total value of $2,608,900.00. Following the completion of the sale, the chief operating officer owned 32,733 shares in the company, valued at approximately $8,539,712.37. This represents a 23.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.50% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on ECL shares. Robert W. Baird set a $305.00 price objective on shares of Ecolab in a report on Wednesday, July 29th. Jefferies Financial Group reduced their target price on shares of Ecolab from $352.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft lifted their target price on Ecolab from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Citigroup boosted their price target on Ecolab from $325.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Finally, BMO Capital Markets upped their price target on Ecolab from $345.00 to $360.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $327.56.
View Our Latest 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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