Robinhood Asset Management LLC acquired a new stake in shares of Ecolab Inc. (NYSE:ECL – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 62,460 shares of the basic materials company’s stock, valued at approximately $17,402,000. Ecolab makes up about 0.9% of Robinhood Asset Management LLC’s investment portfolio, making the stock its 19th largest position.
Other hedge funds also recently made changes to their positions in the company. Wexford Capital LP acquired a new stake in Ecolab during the third quarter valued at approximately $25,000. JPL Wealth Management LLC acquired a new position in Ecolab in the third quarter worth approximately $26,000. Costello Asset Management INC acquired a new position in Ecolab in the first quarter worth approximately $27,000. Kemnay Advisory Services Inc. bought a new position in shares of Ecolab in the fourth quarter valued at $27,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Ecolab during the 2nd quarter valued at $28,000. Institutional investors and hedge funds own 74.91% of the company’s stock.
Ecolab Trading Up 0.2%
Shares of NYSE ECL opened at $281.91 on Friday. Ecolab Inc. has a one year low of $243.15 and a one year high of $309.27. The firm has a market capitalization of $79.03 billion, a PE ratio of 37.84, a PEG ratio of 2.43 and a beta of 0.88. The company has a current ratio of 1.84, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18. The business has a 50-day moving average price of $276.56 and a two-hundred day moving average price of $273.73.
Ecolab Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, September 15th. Ecolab’s dividend payout ratio is currently 39.19%.
Insider Buying and Selling
In other Ecolab news, CEO Christophe Beck sold 17,862 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 72,932 shares in the company, valued at $20,431,170.48. This represents a 19.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Benjamin M. Clark bought 1,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $263.83 per share, with a total value of $263,830.00. Following the purchase, the executive vice president directly owned 1,083 shares in the company, valued at approximately $285,727.89. This trade represents a 1,204.82% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 28,866 shares of company stock worth $7,878,801. Insiders own 0.50% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on ECL shares. Royal Bank Of Canada restated an “outperform” rating and issued a $337.00 target price on shares of Ecolab in a report on Tuesday, July 7th. Oppenheimer upgraded Ecolab from a “market perform” rating to an “outperform” rating and set a $320.00 price target for the company in a research report on Friday, July 17th. Citigroup lifted their price target on Ecolab from $325.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Jefferies Financial Group cut their price objective on Ecolab from $352.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Finally, Wells Fargo & Company upped their price objective on shares of Ecolab from $275.00 to $295.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $327.56.
View Our Latest Stock Report on Ecolab
Ecolab Company 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.
Featured Articles
- Five stocks we like better than Ecolab
- Blueprint for a Boom: SEC Clears the Crypto Runway
- Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss
- Advance Auto Parts Plunged, But Its Turnaround Is Still Working
- Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates?
Want to see what other hedge funds are holding ECL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ecolab Inc. (NYSE:ECL – Free Report).
Receive News & Ratings for Ecolab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecolab and related companies with MarketBeat.com's FREE daily email newsletter.
