Goldman Sachs Group Inc. grew its stake in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 12.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,067,194 shares of the basic materials company’s stock after purchasing an additional 220,790 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Ecolab were worth $542,680,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wexford Capital LP bought a new position in shares of Ecolab during the third quarter valued at about $25,000. JPL Wealth Management LLC purchased a new stake in Ecolab in the 3rd quarter worth approximately $26,000. Tradewinds Capital Management LLC increased its stake in shares of Ecolab by 1,375.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 118 shares of the basic materials company’s stock valued at $31,000 after buying an additional 110 shares during the period. FSA Wealth Management LLC raised its holdings in shares of Ecolab by 88.7% during the third quarter. FSA Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 55 shares in the last quarter. Finally, Pekao Towarzystwo Funduszy Inwestycyjnych S.A. purchased a new stake in Ecolab in the fourth quarter worth $49,000. Institutional investors own 74.91% of the company’s stock.
Ecolab Price Performance
ECL opened at $254.60 on Friday. The stock has a 50-day moving average price of $261.47 and a 200-day moving average price of $271.32. The firm has a market cap of $71.65 billion, a PE ratio of 34.45, a P/E/G ratio of 2.12 and a beta of 0.90. Ecolab Inc. has a 1 year low of $243.15 and a 1 year high of $309.27. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.73.
Ecolab Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 16th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 16th. Ecolab’s dividend payout ratio is presently 39.51%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Ecolab from a “neutral” rating to an “overweight” rating and set a $295.00 target price on the stock in a research note on Tuesday, March 24th. BMO Capital Markets raised their price objective on shares of Ecolab from $323.00 to $345.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Evercore reaffirmed an “outperform” rating and set a $312.00 price objective on shares of Ecolab in a research report on Wednesday, February 18th. Weiss Ratings downgraded Ecolab from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 20th. Finally, Berenberg Bank upgraded Ecolab from a “hold” rating to a “buy” rating and set a $326.00 target price for the company in a research note on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Ecolab currently has a consensus rating of “Moderate Buy” and a consensus target price of $322.53.
Check Out Our Latest Analysis on ECL
Insider Buying and Selling at Ecolab
In other Ecolab news, Director David Maclennan acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average cost of $250.65 per share, with a total value 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. This represents a 4.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Suzanne M. Vautrinot sold 1,004 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $264.98, for a total value of $266,039.92. Following the completion of the transaction, the director directly owned 11,651 shares of the company’s stock, valued at approximately $3,087,281.98. This trade represents a 7.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.50% of the company’s stock.
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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