Oppenheimer Asset Management Inc. bought a new stake in Ecolab Inc. (NYSE:ECL – Free Report) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 61,532 shares of the basic materials company’s stock, valued at approximately $17,143,000.
A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Ecolab by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 25,327,693 shares of the basic materials company’s stock valued at $6,649,026,000 after purchasing an additional 137,578 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Ecolab by 63.1% during the fourth quarter. JPMorgan Chase & Co. now owns 10,622,035 shares of the basic materials company’s stock worth $2,788,497,000 after buying an additional 4,110,472 shares during the last quarter. Morgan Stanley increased its holdings in shares of Ecolab by 5.9% during the fourth quarter. Morgan Stanley now owns 7,883,084 shares of the basic materials company’s stock worth $2,069,468,000 after buying an additional 441,747 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Ecolab by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 5,635,339 shares of the basic materials company’s stock worth $1,472,599,000 after buying an additional 46,569 shares in the last quarter. Finally, Capital World Investors bought a new position in shares of Ecolab in the fourth quarter valued at approximately $1,022,334,000. Institutional investors and hedge funds own 74.91% of the company’s stock.
Ecolab Stock Performance
Shares of Ecolab stock opened at $276.28 on Friday. 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 firm has a market cap of $77.45 billion, a P/E ratio of 37.09, a P/E/G ratio of 2.38 and a beta of 0.88. The firm has a 50 day simple moving average of $274.64 and a 200 day simple moving average of $273.80. Ecolab Inc. has a fifty-two week low of $243.15 and a fifty-two week high of $309.27.
Ecolab Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be given 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 dividend yield of 1.1%. Ecolab’s payout ratio is presently 39.19%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the company. Jefferies Financial Group decreased their price target on Ecolab from $352.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Citigroup lifted their price objective on Ecolab from $325.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. JPMorgan Chase & Co. boosted their price objective on Ecolab from $295.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. UBS Group restated a “buy” rating and set a $342.00 target price on shares of Ecolab in a report on Wednesday, July 29th. Finally, BMO Capital Markets raised their target price on Ecolab from $345.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $327.56.
Read Our Latest Research Report on ECL
Insider Transactions at Ecolab
In other Ecolab news, COO Darrell R. Brown sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $260.89, for a total transaction of $2,608,900.00. Following the completion of the sale, the chief operating officer directly owned 32,733 shares of the company’s stock, valued at approximately $8,539,712.37. The trade was a 23.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michel D. Doukeris bought 7,750 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were acquired at an average price of $258.00 per share, for a total transaction of $1,999,500.00. Following the completion of the transaction, the director owned 8,326 shares in the company, valued at approximately $2,148,108. This trade represents a 1,345.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.50% of the stock is owned by company insiders.
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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