Jones Financial Companies Lllp lessened its holdings in Ecolab Inc. (NYSE:ECL) by 32.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,745 shares of the basic materials company’s stock after selling 833 shares during the period. Jones Financial Companies Lllp’s holdings in Ecolab were worth $345,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of ECL. Thoroughbred Financial Services LLC lifted its stake in shares of Ecolab by 20,154.4% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 587,581 shares of the basic materials company’s stock worth $58,758,000 after purchasing an additional 584,680 shares during the period. BlackRock Inc. lifted its stake in shares of Ecolab by 2.6% in the 1st quarter. BlackRock Inc. now owns 17,078,831 shares of the basic materials company’s stock worth $3,015,097,000 after purchasing an additional 437,110 shares during the period. FMR LLC lifted its stake in shares of Ecolab by 186.7% in the 1st quarter. FMR LLC now owns 620,059 shares of the basic materials company’s stock worth $109,465,000 after purchasing an additional 403,800 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of Ecolab by 59.3% in the 1st quarter. CIBC Private Wealth Group LLC now owns 1,083,150 shares of the basic materials company’s stock worth $191,220,000 after purchasing an additional 403,326 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Ecolab by 22.8% in the 1st quarter. California Public Employees Retirement System now owns 1,626,210 shares of the basic materials company’s stock worth $287,091,000 after purchasing an additional 301,789 shares during the period. Hedge funds and other institutional investors own 75.32% of the company’s stock.
Ecolab stock traded up $3.14 during midday trading on Friday, hitting $206.81. The stock had a trading volume of 1,104,900 shares, compared to its average volume of 1,037,724. The firm’s fifty day moving average is $199.61 and its two-hundred day moving average is $183.91. The company has a market capitalization of $58.61 billion, a PE ratio of 39.39, a P/E/G ratio of 2.76 and a beta of 0.84. Ecolab Inc. has a 52-week low of $135.77 and a 52-week high of $209.24. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.72.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Monday, September 16th. Ecolab’s dividend payout ratio (DPR) is currently 35.05%.
In other Ecolab news, Director Victoria Reich sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $199.25, for a total transaction of $298,875.00. Following the completion of the sale, the director now directly owns 20,987 shares of the company’s stock, valued at approximately $4,181,659.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alex N. Blanco sold 51,400 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $203.07, for a total transaction of $10,437,798.00. Following the sale, the executive vice president now directly owns 59,425 shares of the company’s stock, valued at $12,067,434.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,650 shares of company stock valued at $18,898,540. Insiders own 1.52% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Nomura increased their price objective on shares of Ecolab from $208.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Zacks Investment Research raised shares of Ecolab from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Morgan Stanley increased their target price on shares of Ecolab from $140.00 to $205.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Bank of America reissued a “buy” rating and issued a $200.00 target price (up from $178.00) on shares of Ecolab in a report on Wednesday, May 1st. Finally, Credit Suisse Group set a $181.00 target price on shares of Ecolab and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $192.00.
Ecolab Inc provides water, hygiene, and energy technologies and services worldwide. The company operates through Global Industrial, Global Institutional, Global Energy, and Other segments. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions primarily to industrial customers within the manufacturing, food and beverage processing, transportation, chemical, primary metals and mining, power generation, pulp and paper, pharmaceutical, and commercial laundry.
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