Genus Capital Management Inc. reduced its stake in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 22.2% in the 4th quarter, HoldingsChannel reports. The firm owned 18,231 shares of the basic materials company’s stock after selling 5,200 shares during the quarter. Genus Capital Management Inc.’s holdings in Ecolab were worth $4,786,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Ecolab by 25.9% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 330,698 shares of the basic materials company’s stock worth $86,670,000 after acquiring an additional 68,062 shares during the period. QRG Capital Management Inc. grew its stake in Ecolab by 38.7% in the 4th quarter. QRG Capital Management Inc. now owns 22,362 shares of the basic materials company’s stock worth $5,870,000 after acquiring an additional 6,238 shares during the period. ABN Amro Investment Solutions grew its stake in Ecolab by 19.9% in the 3rd quarter. ABN Amro Investment Solutions now owns 83,379 shares of the basic materials company’s stock worth $22,834,000 after acquiring an additional 13,840 shares during the period. Cresset Asset Management LLC grew its stake in Ecolab by 7.7% in the 3rd quarter. Cresset Asset Management LLC now owns 48,231 shares of the basic materials company’s stock worth $13,240,000 after acquiring an additional 3,464 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Ecolab by 20.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,656 shares of the basic materials company’s stock worth $18,254,000 after acquiring an additional 11,322 shares during the period. 74.91% of the stock is currently owned by institutional investors and hedge funds.
Ecolab Stock Up 0.0%
Shares of NYSE ECL opened at $253.33 on Monday. Ecolab Inc. has a 52-week low of $243.15 and a 52-week high of $309.27. The firm has a fifty day moving average of $263.35 and a 200-day moving average of $271.48. The stock has a market capitalization of $71.30 billion, a PE ratio of 34.28, a P/E/G ratio of 2.10 and a beta of 0.92. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.
Ecolab Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 16th will be issued 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 1.2%. Ecolab’s payout ratio is presently 39.51%.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Evercore reaffirmed an “outperform” rating and issued a $312.00 target price on shares of Ecolab in a research note on Wednesday, February 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $337.00 target price on shares of Ecolab in a research note on Tuesday, May 19th. Bank of America boosted their price objective on shares of Ecolab from $337.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Berenberg Bank raised shares of Ecolab from a “hold” rating to a “buy” rating and set a $326.00 price objective for the company in a research note on Monday, March 16th. Finally, UBS Group lowered their price objective on shares of Ecolab from $312.00 to $293.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $320.65.
Read Our Latest Stock Report on ECL
Insider Activity at Ecolab
In related news, Director Tracy B. Mckibben sold 1,265 shares of Ecolab stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $308.66, for a total transaction of $390,454.90. Following the transaction, the director owned 11,358 shares in the company, valued at approximately $3,505,760.28. The trade was a 10.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Maclennan bought 1,000 shares of Ecolab stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $250.65 per share, for a total transaction of $250,650.00. Following the acquisition, the director directly owned 25,230 shares in the company, valued at approximately $6,323,899.50. This represents a 4.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.50% of the company’s stock.
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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