Ecolab Inc. (NYSE:ECL) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lowered its holdings in shares of Ecolab Inc. (NYSE:ECL) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,427 shares of the basic materials company’s stock after selling 108 shares during the period. iA Global Asset Management Inc.’s holdings in Ecolab were worth $1,253,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Institute for Wealth Management LLC. acquired a new position in Ecolab during the fourth quarter worth approximately $221,000. Blue Trust Inc. raised its holdings in Ecolab by 158.4% in the fourth quarter. Blue Trust Inc. now owns 509 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 312 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in Ecolab by 4.0% in the fourth quarter. Pinnacle Associates Ltd. now owns 3,830 shares of the basic materials company’s stock valued at $760,000 after buying an additional 146 shares during the last quarter. Drive Wealth Management LLC acquired a new position in shares of Ecolab in the 4th quarter valued at about $211,000. Finally, FAS Wealth Partners Inc. increased its position in Ecolab by 6.5% in the fourth quarter. FAS Wealth Partners Inc. now owns 1,686 shares of the basic materials company’s stock worth $335,000 after buying an additional 103 shares during the period. 74.91% of the stock is currently owned by hedge funds and other institutional investors.

Ecolab Price Performance

Shares of ECL traded up $9.55 during trading hours on Thursday, reaching $240.24. The stock had a trading volume of 1,856,087 shares, compared to its average volume of 1,161,533. Ecolab Inc. has a 12 month low of $156.72 and a 12 month high of $249.00. The company’s 50-day moving average is $239.60 and its two-hundred day moving average is $226.54. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.50. The stock has a market capitalization of $68.61 billion, a PE ratio of 43.99, a PEG ratio of 2.42 and a beta of 1.11.

Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.01. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. Ecolab had a net margin of 10.95% and a return on equity of 21.65%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.24 EPS. Research analysts expect that Ecolab Inc. will post 6.58 EPS for the current year.

Ecolab Dividend Announcement

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 $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.95%. Ecolab’s dividend payout ratio is currently 42.22%.

Analyst Ratings Changes

ECL has been the topic of a number of recent analyst reports. Stifel Nicolaus upgraded shares of Ecolab from a “hold” rating to a “buy” rating and lifted their price objective for the company from $233.00 to $283.00 in a research note on Monday, July 8th. BMO Capital Markets lifted their target price on Ecolab from $227.00 to $234.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. Robert W. Baird raised their price objective on shares of Ecolab from $243.00 to $267.00 and gave the stock a “neutral” rating in a research note on Wednesday. Raymond James upped their target price on Ecolab from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Finally, Piper Sandler started coverage on Ecolab in a research note on Wednesday, April 3rd. They issued an “overweight” rating and a $260.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ecolab has an average rating of “Moderate Buy” and a consensus price target of $249.13.

Insider Activity at Ecolab

In other Ecolab news, Director David Maclennan bought 650 shares of Ecolab stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $227.37 per share, with a total value of $147,790.50. Following the completion of the acquisition, the director now directly owns 17,111 shares in the company, valued at approximately $3,890,528.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director David Maclennan bought 650 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average cost of $227.37 per share, with a total value of $147,790.50. Following the completion of the transaction, the director now directly owns 17,111 shares of the company’s stock, valued at approximately $3,890,528.07. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arthur J. Higgins sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $227.52, for a total transaction of $1,023,840.00. Following the completion of the transaction, the director now directly owns 25,548 shares of the company’s stock, valued at $5,812,680.96. The disclosure for this sale can be found here. 0.04% of the stock is owned by insiders.

Ecolab Company Profile

Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through three segments: Global Industrial; Global Institutional & Specialty; and Global Healthcare & Life Sciences. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries.