Cresset Asset Management LLC cut its holdings in Ecolab Inc. (NYSE:ECL - Free Report) by 46.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,481 shares of the basic materials company's stock after selling 30,067 shares during the quarter. Cresset Asset Management LLC's holdings in Ecolab were worth $8,096,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ECL. Barclays PLC increased its stake in Ecolab by 9.5% in the 3rd quarter. Barclays PLC now owns 796,170 shares of the basic materials company's stock worth $203,285,000 after purchasing an additional 69,142 shares in the last quarter. Principal Financial Group Inc. grew its stake in Ecolab by 5.9% during the 3rd quarter. Principal Financial Group Inc. now owns 301,591 shares of the basic materials company's stock valued at $77,005,000 after acquiring an additional 16,747 shares in the last quarter. CWA Asset Management Group LLC grew its stake in Ecolab by 4.7% during the 4th quarter. CWA Asset Management Group LLC now owns 1,792 shares of the basic materials company's stock valued at $420,000 after acquiring an additional 81 shares in the last quarter. Diversified Trust Co grew its stake in Ecolab by 1.2% during the 4th quarter. Diversified Trust Co now owns 9,984 shares of the basic materials company's stock valued at $2,339,000 after acquiring an additional 123 shares in the last quarter. Finally, Fulton Bank N.A. purchased a new position in Ecolab during the 4th quarter valued at about $276,000. 74.91% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, SVP Jennifer J. Bradway sold 856 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $267.37, for a total transaction of $228,868.72. Following the sale, the senior vice president now owns 4,140 shares in the company, valued at $1,106,911.80. This represents a 17.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Maclennan purchased 400 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $264.51 per share, for a total transaction of $105,804.00. Following the completion of the purchase, the director now owns 18,767 shares in the company, valued at $4,964,059.17. This trade represents a 2.18% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 17,435 shares of company stock worth $4,637,985 in the last 90 days. Insiders own 0.04% of the company's stock.
Ecolab Price Performance
NYSE ECL traded down $2.64 during midday trading on Tuesday, hitting $251.84. The company had a trading volume of 408,877 shares, compared to its average volume of 1,157,824. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 0.79. Ecolab Inc. has a twelve month low of $220.96 and a twelve month high of $273.69. The company has a market capitalization of $71.43 billion, a PE ratio of 34.12, a P/E/G ratio of 2.57 and a beta of 1.05. The firm has a 50-day moving average price of $247.07 and a 200-day moving average price of $247.55.
Ecolab (NYSE:ECL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The basic materials company reported $1.50 EPS for the quarter, hitting analysts' consensus estimates of $1.50. Ecolab had a return on equity of 22.50% and a net margin of 13.42%. The company had revenue of $3.70 billion during the quarter, compared to analysts' expectations of $3.71 billion. During the same quarter in the previous year, the firm earned $1.34 EPS. Ecolab's revenue was down 1.5% on a year-over-year basis. As a group, analysts anticipate that Ecolab Inc. will post 7.54 earnings per share for the current fiscal year.
Ecolab Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 17th will be given a dividend of $0.65 per share. The ex-dividend date is Tuesday, June 17th. This represents a $2.60 dividend on an annualized basis and a yield of 1.03%. Ecolab's dividend payout ratio is currently 35.33%.
Wall Street Analyst Weigh In
ECL has been the subject of several recent research reports. BMO Capital Markets boosted their price target on Ecolab from $295.00 to $305.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Barclays lowered their price target on Ecolab from $300.00 to $275.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. UBS Group upped their target price on Ecolab from $257.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Mizuho decreased their target price on Ecolab from $302.00 to $285.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Stifel Nicolaus decreased their target price on Ecolab from $307.00 to $303.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $282.47.
Check Out Our Latest Research Report on Ecolab
About Ecolab
(
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.
Further Reading
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