Hsbc Holdings PLC lifted its position in Ecolab Inc. (NYSE:ECL – Free Report) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 944,864 shares of the basic materials company’s stock after acquiring an additional 7,623 shares during the period. Hsbc Holdings PLC owned 0.34% of Ecolab worth $248,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in ECL. Brighton Jones LLC lifted its stake in shares of Ecolab by 164.7% in the fourth quarter. Brighton Jones LLC now owns 3,700 shares of the basic materials company’s stock worth $867,000 after buying an additional 2,302 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Ecolab by 39.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,384 shares of the basic materials company’s stock valued at $373,000 after acquiring an additional 394 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in Ecolab by 22.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,166 shares of the basic materials company’s stock valued at $314,000 after acquiring an additional 217 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Ecolab by 0.8% in the 2nd quarter. NewEdge Advisors LLC now owns 21,096 shares of the basic materials company’s stock valued at $5,684,000 after acquiring an additional 171 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Ecolab by 49.4% in the 2nd quarter. CIBC Asset Management Inc now owns 58,421 shares of the basic materials company’s stock valued at $15,741,000 after acquiring an additional 19,324 shares during the last quarter. 74.91% of the stock is currently owned by hedge funds and other institutional investors.
Ecolab Stock Performance
Ecolab stock opened at $269.71 on Friday. The firm has a 50 day simple moving average of $261.40 and a 200-day simple moving average of $271.16. The stock has a market cap of $75.91 billion, a price-to-earnings ratio of 36.50, a price-to-earnings-growth ratio of 2.23 and a beta of 0.90. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.73. Ecolab Inc. has a 1-year low of $243.15 and a 1-year high of $309.27.
Ecolab Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.1%. Ecolab’s dividend payout ratio is currently 39.51%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Berenberg Bank upgraded Ecolab from a “hold” rating to a “buy” rating and set a $326.00 target price on the stock in a report on Monday, March 16th. JPMorgan Chase & Co. raised Ecolab from a “neutral” rating to an “overweight” rating and set a $295.00 price target for the company in a report on Tuesday, March 24th. Weiss Ratings lowered Ecolab from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. Citigroup dropped their target price on Ecolab from $330.00 to $325.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Finally, Bank of America raised their target price on Ecolab from $337.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $323.41.
Read Our Latest Stock Analysis on ECL
Insider Buying and Selling at Ecolab
In other Ecolab news, Director David Maclennan acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average cost of $250.65 per share, with a total value of $250,650.00. Following the transaction, the director owned 25,230 shares of the company’s stock, valued at $6,323,899.50. This trade represents a 4.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michel D. Doukeris acquired 7,750 shares of Ecolab stock in a transaction that occurred on Wednesday, June 10th. The stock was bought at an average price of $258.00 per share, for a total transaction of $1,999,500.00. Following the completion of the acquisition, the director owned 8,326 shares in the company, valued at $2,148,108. This trade represents a 1,345.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 10,550 shares of company stock worth $2,719,508. Insiders own 0.50% of the company’s stock.
About Ecolab
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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