Transamerica Financial Advisors LLC purchased a new position in Ecolab Inc. (NYSE:ECL – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,401 shares of the basic materials company’s stock, valued at approximately $4,291,000.
Other hedge funds also recently bought and sold shares of the company. Wexford Capital LP bought a new position in Ecolab in the 3rd quarter worth about $25,000. JPL Wealth Management LLC bought a new stake in shares of Ecolab during the 3rd quarter valued at about $26,000. Costello Asset Management INC bought a new stake in shares of Ecolab during the 1st quarter valued at about $27,000. Kemnay Advisory Services Inc. purchased a new position in shares of Ecolab during the fourth quarter worth about $27,000. Finally, J.Safra Asset Management Corp bought a new position in shares of Ecolab in the second quarter worth approximately $28,000. Hedge funds and other institutional investors own 74.91% of the company’s stock.
Ecolab Stock Performance
NYSE:ECL opened at $290.87 on Thursday. The company has a market capitalization of $81.54 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 2.50 and a beta of 0.88. The business has a 50 day moving average of $277.68 and a 200 day moving average of $273.73. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.84 and a quick ratio of 1.57. 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 announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.73 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.92 annualized dividend and a dividend yield of 1.0%. Ecolab’s dividend payout ratio (DPR) is currently 39.19%.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on ECL shares. BMO Capital Markets raised their target price on shares of Ecolab from $345.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Wells Fargo & Company boosted their price target on shares of Ecolab from $275.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. UBS Group restated a “buy” rating and set a $342.00 price objective on shares of Ecolab in a research report on Wednesday, July 29th. Robert W. Baird set a $305.00 price objective on shares of Ecolab in a report on Wednesday, July 29th. Finally, Oppenheimer upgraded shares of Ecolab from a “market perform” rating to an “outperform” rating and set a $320.00 target price for the company in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $327.56.
Read Our Latest Stock Analysis on Ecolab
Insider Buying and Selling at Ecolab
In related news, COO Darrell R. Brown sold 10,000 shares of Ecolab stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $260.89, for a total value of $2,608,900.00. Following the transaction, the chief operating officer owned 32,733 shares in the company, valued at $8,539,712.37. This trade represents a 23.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Benjamin M. Clark purchased 1,000 shares of the stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $263.83 per share, with a total value of $263,830.00. Following the completion of the purchase, the executive vice president directly owned 1,083 shares of the company’s stock, valued at $285,727.89. The trade was a 1,204.82% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 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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