Royal Bank of Canada trimmed its stake in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,529,099 shares of the basic materials company’s stock after selling 94,018 shares during the quarter. Royal Bank of Canada’s holdings in Ecolab were worth $926,460,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wexford Capital LP bought a new stake in shares of Ecolab during the 3rd quarter valued at $25,000. JPL Wealth Management LLC bought a new stake in shares of Ecolab during the 3rd quarter valued at $26,000. Meeder Asset Management Inc. bought a new stake in shares of Ecolab during the 4th quarter valued at $29,000. FSA Wealth Management LLC raised its stake in shares of Ecolab by 88.7% during the 3rd quarter. FSA Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 55 shares during the period. Finally, Tradewinds Capital Management LLC increased its stake in Ecolab by 1,375.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 118 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 110 shares during the last quarter. 74.91% of the stock is currently owned by institutional investors.
Ecolab Price Performance
Shares of NYSE ECL opened at $274.15 on Wednesday. The firm has a market capitalization of $77.16 billion, a P/E ratio of 37.10, a P/E/G ratio of 2.22 and a beta of 0.90. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock’s 50-day simple moving average is $261.28 and its two-hundred day simple moving average is $271.25. Ecolab Inc. has a twelve month low of $243.15 and a twelve month high of $309.27.
Ecolab Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.73 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.92 annualized dividend and a dividend yield of 1.1%. Ecolab’s dividend payout ratio is 39.51%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Robert W. Baird decreased their target price on Ecolab from $320.00 to $296.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. UBS Group upgraded Ecolab from a “neutral” rating to a “buy” rating and upped their target price for the stock from $293.00 to $325.00 in a research note on Wednesday, May 27th. JPMorgan Chase & Co. upgraded 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. Bank of America upped their target price on Ecolab from $337.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company upped their target price on Ecolab from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $323.41.
Check Out Our Latest Stock Report on Ecolab
Insider Activity
In other news, Director Michel D. Doukeris acquired 7,750 shares of Ecolab stock in a transaction dated Wednesday, June 10th. The shares were purchased at an average cost of $258.00 per share, for a total transaction of $1,999,500.00. Following the transaction, the director owned 8,326 shares of the company’s stock, valued at $2,148,108. This trade represents a 1,345.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David Maclennan acquired 1,000 shares of Ecolab stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price of $250.65 per share, for a total transaction of $250,650.00. Following the completion of the transaction, the director directly owned 25,230 shares in the company, valued at approximately $6,323,899.50. The trade was a 4.13% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 10,550 shares of company stock worth $2,719,508. 0.50% of the stock is currently owned by insiders.
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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