Daiwa Securities Group Inc. lessened its position in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 3.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 52,566 shares of the basic materials company’s stock after selling 2,004 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Ecolab were worth $13,800,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also bought and sold shares of ECL. Norges Bank acquired a new stake in Ecolab in the 4th quarter valued at $880,506,000. Vanguard Group Inc. boosted its stake in Ecolab by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 25,190,115 shares of the basic materials company’s stock valued at $6,898,565,000 after buying an additional 527,902 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in Ecolab by 195.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 670,778 shares of the basic materials company’s stock valued at $183,699,000 after buying an additional 444,053 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in Ecolab in the 4th quarter valued at $113,287,000. Finally, M&T Bank Corp boosted its stake in Ecolab by 594.6% in the 4th quarter. M&T Bank Corp now owns 493,525 shares of the basic materials company’s stock valued at $129,560,000 after buying an additional 422,471 shares in the last quarter. Institutional investors and hedge funds own 74.91% of the company’s stock.
Ecolab Price Performance
Ecolab stock opened at $258.60 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market cap of $72.78 billion, a P/E ratio of 34.99, a P/E/G ratio of 2.14 and a beta of 0.90. The business’s fifty day moving average is $261.26 and its two-hundred day moving average is $271.23. Ecolab Inc. has a 52 week low of $243.15 and a 52 week high of $309.27.
Ecolab Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 16th will be paid a $0.73 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.92 dividend on an annualized basis and a yield of 1.1%. Ecolab’s payout ratio is currently 39.51%.
Insiders Place Their Bets
In other news, Director Suzanne M. Vautrinot sold 1,004 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $264.98, for a total transaction of $266,039.92. Following the transaction, the director owned 11,651 shares of the company’s stock, valued at $3,087,281.98. This represents a 7.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Maclennan purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $250.65 per share, for a total transaction of $250,650.00. Following the purchase, the director directly owned 25,230 shares of the company’s stock, valued at $6,323,899.50. This trade represents a 4.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.50% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. JPMorgan Chase & Co. raised Ecolab from a “neutral” rating to an “overweight” rating and set a $295.00 price target on the stock in a research note on Tuesday, March 24th. Robert W. Baird decreased their price target on Ecolab from $320.00 to $296.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. Bank of America boosted their price target on Ecolab from $337.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Mizuho set a $335.00 price target on Ecolab in a research note on Wednesday, February 11th. Finally, BMO Capital Markets boosted their price target on Ecolab from $323.00 to $345.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $322.53.
Check Out Our Latest Report on Ecolab
About Ecolab
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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