Profund Advisors LLC decreased its holdings in Ecolab Inc. (NYSE:ECL – Free Report) by 32.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,332 shares of the basic materials company’s stock after selling 2,589 shares during the quarter. Profund Advisors LLC’s holdings in Ecolab were worth $1,464,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Findlay Park Partners LLP acquired a new stake in Ecolab in the 2nd quarter worth about $115,674,000. Cornerstone Advisors LLC purchased a new position in shares of Ecolab in the second quarter valued at approximately $16,698,000. Saudi Central Bank boosted its stake in Ecolab by 89.1% during the 2nd quarter. Saudi Central Bank now owns 17,793 shares of the basic materials company’s stock worth $4,957,000 after purchasing an additional 8,384 shares during the last quarter. Nykredit A S acquired a new stake in Ecolab during the 2nd quarter worth $31,932,000. Finally, Moore Capital Management LP purchased a new stake in shares of Ecolab during the second quarter worth $7,298,000. Hedge funds and other institutional investors own 74.91% of the company’s stock.
Ecolab Trading Up 1.8%
Shares of Ecolab stock opened at $308.48 on Tuesday. The stock has a 50 day moving average of $282.55 and a 200 day moving average of $276.31. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.57 and a current ratio of 1.11. The firm has a market capitalization of $86.48 billion, a price-to-earnings ratio of 41.97, a PEG ratio of 2.84 and a beta of 0.87. Ecolab Inc. has a fifty-two week low of $243.15 and a fifty-two week high of $310.00.
Ecolab (NYSE:ECL – Get Free Report) last posted its earnings results on Tuesday, October 27th. The basic materials company reported $2.18 EPS for the quarter, meeting analysts’ consensus estimates of $2.18. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. Ecolab had a return on equity of 22.57% and a net margin of 11.99%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.07 earnings per share. As a group, research analysts predict that Ecolab Inc. will post 8.16 earnings per share for the current year.
Ecolab Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Tuesday, September 15th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, September 15th. Ecolab’s payout ratio is 39.73%.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Ecolab from $305.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. UBS Group boosted their price target on shares of Ecolab from $344.00 to $357.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Berenberg Bank boosted their price target on shares of Ecolab from $299.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Robert W. Baird set a $305.00 price objective on shares of Ecolab and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Finally, Mizuho upped their target price on Ecolab from $325.00 to $327.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $328.58.
Get Our Latest Stock Analysis on Ecolab
Insider Buying and Selling
In other Ecolab news, CEO Christophe Beck sold 17,862 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $280.14, for a total value of $5,003,860.68. Following the transaction, the chief executive officer owned 72,932 shares of the company’s stock, valued at $20,431,170.48. This represents a 19.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.50% of the stock is owned by insiders.
About Ecolab
Ecolab Inc is a global provider of water, hygiene, infection prevention and cleaning solutions for businesses and institutions. The company helps customers manage water and energy use, maintain sanitary operations, protect food supplies and comply with health and safety standards.
Ecolab serves customers across industries including food and beverage processing, hospitality, healthcare, life sciences, manufacturing, institutional facilities and energy. Its offerings include cleaning and sanitizing chemicals, water-treatment and process-management systems, pest-control services, kitchen and housekeeping products, infection-prevention programs, and related equipment, training and consulting services.
Founded in 1923 as Economics Laboratory, the company has expanded from its original focus on cleaning products into a broad range of technology-enabled services and solutions.
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