Banque Cantonale Vaudoise lessened its holdings in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 17.6% in the first quarter, Holdings Channel reports. The firm owned 15,878 shares of the basic materials company’s stock after selling 3,397 shares during the period. Banque Cantonale Vaudoise’s holdings in Ecolab were worth $4,224,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wexford Capital LP purchased a new position in Ecolab in the third quarter valued at about $25,000. JPL Wealth Management LLC purchased a new stake in Ecolab during the 3rd quarter worth $26,000. Kemnay Advisory Services Inc. purchased a new stake in Ecolab during the 4th quarter worth $27,000. Meeder Asset Management Inc. acquired a new position in Ecolab in the 4th quarter worth $29,000. Finally, Union Savings Bank purchased a new position in Ecolab in the 4th quarter valued at about $30,000. 74.91% of the stock is owned by institutional investors and hedge funds.
Ecolab Trading Up 2.7%
NYSE ECL opened at $275.97 on Thursday. The firm has a market capitalization of $77.67 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.23 and a beta of 0.90. The company has a 50-day simple moving average of $261.25 and a 200-day simple moving average of $271.25. Ecolab Inc. has a one year low of $243.15 and a one year high of $309.27. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.73 and a current ratio of 0.99.
Ecolab Announces Dividend
The company also recently declared 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 currently 39.51%.
Wall Street Analysts Forecast Growth
ECL has been the subject of several recent analyst reports. Robert W. Baird lowered their target price on Ecolab from $320.00 to $296.00 and set an “outperform” rating for the company in a research note on Tuesday, March 24th. Bank of America raised their price objective on Ecolab from $337.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. UBS Group upgraded Ecolab from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $293.00 to $325.00 in a report on Wednesday, May 27th. Citigroup upped their target price on Ecolab from $325.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of Ecolab from $260.00 to $275.00 and gave the company an “equal weight” rating in a report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Ecolab currently has an average rating of “Moderate Buy” and an average price target of $323.71.
Get Our Latest Research Report on ECL
Insider Buying and Selling at Ecolab
In other Ecolab news, Director Michel D. Doukeris purchased 7,750 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were bought at an average price of $258.00 per share, with a total value of $1,999,500.00. Following the completion of the acquisition, the director owned 8,326 shares in the company, valued at approximately $2,148,108. This represents a 1,345.49% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Suzanne M. Vautrinot sold 1,004 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $264.98, for a total value of $266,039.92. Following the completion of the transaction, the director directly owned 11,651 shares of the company’s stock, valued at $3,087,281.98. This trade represents a 7.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have purchased 10,550 shares of company stock valued at $2,719,508. Corporate 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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