ProShare Advisors LLC Reduces Holdings in Ecolab Inc. $ECL

ProShare Advisors LLC lowered its position in shares of Ecolab Inc. (NYSE:ECL) by 6.3% during the third quarter, Holdings Channel reports. The firm owned 667,295 shares of the basic materials company’s stock after selling 44,728 shares during the quarter. ProShare Advisors LLC’s holdings in Ecolab were worth $182,745,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Ecolab by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 24,662,213 shares of the basic materials company’s stock valued at $6,644,987,000 after acquiring an additional 250,980 shares during the period. Geode Capital Management LLC increased its stake in Ecolab by 0.4% in the second quarter. Geode Capital Management LLC now owns 5,479,529 shares of the basic materials company’s stock valued at $1,469,019,000 after purchasing an additional 22,986 shares during the period. Norges Bank purchased a new stake in shares of Ecolab in the second quarter valued at about $847,544,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Ecolab by 3.6% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,610,791 shares of the basic materials company’s stock worth $703,452,000 after buying an additional 90,005 shares during the period. Finally, Amundi grew its holdings in shares of Ecolab by 9.0% during the second quarter. Amundi now owns 2,497,626 shares of the basic materials company’s stock worth $674,497,000 after buying an additional 205,634 shares during the last quarter. 74.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on ECL shares. Stifel Nicolaus decreased their price objective on Ecolab from $303.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Citigroup increased their price target on Ecolab from $315.00 to $324.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Wells Fargo & Company upped their price objective on shares of Ecolab from $270.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. Robert W. Baird set a $307.00 target price on shares of Ecolab in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Ecolab from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.33.

Insider Buying and Selling at Ecolab

In related news, EVP Boo Alexander A. De sold 1,422 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $268.25, for a total value of $381,451.50. Following the completion of the transaction, the executive vice president owned 5,726 shares of the company’s stock, valued at approximately $1,535,999.50. The trade was a 19.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christophe Beck sold 21,714 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $261.41, for a total transaction of $5,676,256.74. Following the completion of the transaction, the chief executive officer directly owned 72,644 shares of the company’s stock, valued at approximately $18,989,868.04. This represents a 23.01% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.04% of the stock is owned by insiders.

Ecolab Price Performance

Shares of NYSE ECL opened at $290.63 on Monday. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is $270.82 and its 200 day moving average price is $270.59. Ecolab Inc. has a 52 week low of $221.62 and a 52 week high of $291.08. The stock has a market cap of $82.32 billion, a price-to-earnings ratio of 41.76, a PEG ratio of 2.51 and a beta of 0.99.

Ecolab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Tuesday, December 16th were given a dividend of $0.73 per share. The ex-dividend date was Tuesday, December 16th. This represents a $2.92 annualized dividend and a dividend yield of 1.0%. This is an increase from Ecolab’s previous quarterly dividend of $0.65. Ecolab’s payout ratio is presently 41.95%.

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.