BLB&B Advisors LLC Reduces Stock Position in Ecolab Inc. (NYSE:ECL)

by · The Markets Daily

BLB&B Advisors LLC lessened its stake in Ecolab Inc. (NYSE:ECL – Free Report) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,808 shares of the basic materials company’s stock after selling 211 shares during the period. BLB&B Advisors LLC’s holdings in Ecolab were worth $9,653,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Ecolab by 1.3% during the first quarter. Vanguard Group Inc. now owns 23,486,858 shares of the basic materials company’s stock valued at $5,423,116,000 after purchasing an additional 304,402 shares during the last quarter. Legal & General Group Plc raised its stake in Ecolab by 5.0% during the second quarter. Legal & General Group Plc now owns 2,558,198 shares of the basic materials company’s stock worth $608,851,000 after acquiring an additional 122,715 shares during the period. Mirova US LLC lifted its holdings in Ecolab by 2.3% in the second quarter. Mirova US LLC now owns 1,975,415 shares of the basic materials company’s stock worth $470,149,000 after acquiring an additional 43,553 shares during the last quarter. Swedbank AB bought a new position in shares of Ecolab during the first quarter valued at approximately $390,687,000. Finally, American Century Companies Inc. grew its holdings in shares of Ecolab by 1.8% during the second quarter. American Century Companies Inc. now owns 1,372,379 shares of the basic materials company’s stock valued at $326,626,000 after purchasing an additional 24,648 shares during the last quarter. Institutional investors own 74.91% of the company’s stock.

Ecolab Price Performance

Shares of NYSE:ECL opened at $258.24 on Wednesday. The stock has a fifty day moving average of $251.09 and a 200-day moving average of $240.37. The company has a market capitalization of $73.75 billion, a PE ratio of 47.82, a price-to-earnings-growth ratio of 2.58 and a beta of 1.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.10 and a current ratio of 1.50. Ecolab Inc. has a one year low of $156.72 and a one year high of $262.61.

Ecolab (NYSE:ECL – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.01. The company 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 business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 earnings per share. As a group, equities analysts anticipate that Ecolab Inc. will post 6.65 EPS for the current fiscal year.

Ecolab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were given a $0.57 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $2.28 annualized dividend and a dividend yield of 0.88%. Ecolab’s dividend payout ratio (DPR) is presently 42.22%.

Insider Activity

In other Ecolab news, Director David Maclennan acquired 650 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $240.41 per share, for a total transaction of $156,266.50. Following the transaction, the director now owns 17,967 shares of the company’s stock, valued at $4,319,446.47. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director David Maclennan purchased 650 shares of Ecolab stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $240.41 per share, with a total value of $156,266.50. Following the completion of the transaction, the director now directly owns 17,967 shares of the company’s stock, valued at $4,319,446.47. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregory B. Cook sold 3,811 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $249.33, for a total transaction of $950,196.63. Following the transaction, the executive vice president now directly owns 8,080 shares in the company, valued at $2,014,586.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.04% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ECL has been the subject of a number of analyst reports. Bank of America upgraded Ecolab from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $251.00 to $272.00 in a research report on Wednesday, July 31st. Piper Sandler upped their price target on shares of Ecolab from $270.00 to $305.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. BMO Capital Markets lifted their price objective on shares of Ecolab from $234.00 to $260.00 and gave the company a “market perform” rating in a research report on Monday, September 30th. Robert W. Baird lifted their price target on Ecolab from $243.00 to $267.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company restated a “market perform” rating on shares of Ecolab in a research report on Friday. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Ecolab has a consensus rating of “Moderate Buy” and an average target price of $271.80.

Get Our Latest Stock Report on ECL

Ecolab Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding ECL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ecolab Inc. (NYSE:ECL – Free Report).