19,814 Shares in Ecolab Inc. (NYSE:ECL) Acquired by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP purchased a new stake in shares of Ecolab Inc. (NYSE:ECL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,814 shares of the basic materials company's stock, valued at approximately $4,643,000. Ecolab accounts for 1.3% of DoubleLine ETF Adviser LP's portfolio, making the stock its 17th biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ECL. Wahed Invest LLC acquired a new stake in shares of Ecolab in the fourth quarter worth $1,480,000. South Plains Financial Inc. bought a new stake in shares of Ecolab in the 4th quarter worth about $163,000. Mercer Global Advisors Inc. ADV grew its position in Ecolab by 5.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 56,269 shares of the basic materials company's stock worth $13,185,000 after acquiring an additional 3,076 shares during the last quarter. Navigoe LLC bought a new position in shares of Ecolab in the fourth quarter valued at about $31,000. Finally, Voleon Capital Management LP acquired a new position in Ecolab during the 4th quarter worth about $2,208,000. 74.91% of the stock is currently owned by hedge funds and other institutional investors.

Ecolab Stock Performance

Shares of ECL stock traded down $2.38 during trading on Tuesday, reaching $252.72. 839,741 shares of the company's stock were exchanged, compared to its average volume of 1,409,114. Ecolab Inc. has a twelve month low of $220.96 and a twelve month high of $273.69. The firm's fifty day moving average price is $248.58 and its 200-day moving average price is $247.68. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $71.68 billion, a PE ratio of 34.24, a PEG ratio of 2.57 and a beta of 1.05.

Ecolab (NYSE:ECL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The basic materials company reported $1.50 earnings per share for the quarter, meeting the consensus estimate of $1.50. Ecolab had a net margin of 13.42% and a return on equity of 22.50%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the firm earned $1.34 earnings per share. The company's revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Ecolab Inc. will post 7.54 EPS for the current year.

Ecolab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 18th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Tuesday, March 18th. Ecolab's dividend payout ratio is currently 35.33%.

Insider Activity

In related news, EVP Machiel Duijser sold 5,721 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $264.04, for a total value of $1,510,572.84. Following the transaction, the executive vice president now owns 3,774 shares in the company, valued at approximately $996,486.96. This trade represents a 60.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Larry L. Berger sold 10,858 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $266.95, for a total transaction of $2,898,543.10. Following the completion of the transaction, the executive vice president now owns 15,744 shares of the company's stock, valued at $4,202,860.80. The trade was a 40.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,435 shares of company stock worth $4,637,985. Corporate insiders own 0.04% of the company's stock.

Wall Street Analysts Forecast Growth

ECL has been the topic of several research analyst reports. Morgan Stanley raised shares of Ecolab from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $263.00 to $280.00 in a research note on Tuesday, January 28th. Redburn Atlantic lowered shares of Ecolab from a "buy" rating to a "neutral" rating and set a $270.00 price target for the company. in a report on Monday, March 24th. Mizuho decreased their price objective on Ecolab from $302.00 to $285.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. BMO Capital Markets upped their price target on shares of Ecolab from $295.00 to $305.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. Finally, Barclays lowered their target price on Ecolab from $300.00 to $275.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Ecolab presently has an average rating of "Moderate Buy" and an average target price of $282.47.

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.