Kentucky Retirement Systems Insurance Trust Fund Sells 2,342 Shares of Ecolab Inc. (NYSE:ECL)

Kentucky Retirement Systems Insurance Trust Fund reduced its holdings in Ecolab Inc. (NYSE:ECL - Free Report) by 24.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,261 shares of the basic materials company's stock after selling 2,342 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Ecolab were worth $1,841,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC lifted its stake in Ecolab by 15.6% during the first quarter. Miracle Mile Advisors LLC now owns 5,576 shares of the basic materials company's stock valued at $1,414,000 after purchasing an additional 754 shares during the last quarter. AMG National Trust Bank boosted its stake in shares of Ecolab by 16.0% during the 4th quarter. AMG National Trust Bank now owns 37,617 shares of the basic materials company's stock worth $8,822,000 after acquiring an additional 5,189 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Ecolab in the 4th quarter worth $80,564,000. DJE Kapital AG acquired a new stake in shares of Ecolab during the fourth quarter worth $895,000. Finally, Congress Wealth Management LLC DE lifted its holdings in shares of Ecolab by 1.2% during the fourth quarter. Congress Wealth Management LLC DE now owns 104,153 shares of the basic materials company's stock valued at $24,405,000 after purchasing an additional 1,249 shares during the last quarter. Institutional investors and hedge funds own 74.91% of the company's stock.

Ecolab Stock Up 0.4%

Shares of NYSE:ECL traded up $0.94 on Tuesday, reaching $266.89. The company had a trading volume of 1,016,903 shares, compared to its average volume of 1,165,197. The company has a quick ratio of 0.98, a current ratio of 1.32 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $75.70 billion, a P/E ratio of 36.26, a P/E/G ratio of 2.60 and a beta of 1.03. The stock has a 50-day moving average price of $255.77 and a 200 day moving average price of $250.73. Ecolab Inc. has a twelve month low of $220.96 and a twelve month high of $273.69.

Ecolab (NYSE:ECL - Get Free Report) last announced its earnings results on Tuesday, April 29th. The basic materials company reported $1.50 EPS for the quarter, hitting the consensus estimate of $1.50. Ecolab had a net margin of 13.41% and a return on equity of 22.53%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the firm posted $1.34 EPS. The business's quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts expect that Ecolab Inc. will post 7.54 EPS for the current year.

Ecolab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 17th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Tuesday, June 17th. Ecolab's dividend payout ratio (DPR) is currently 35.33%.

Analysts Set New Price Targets

Several analysts have issued reports on ECL shares. BMO Capital Markets boosted their price objective on Ecolab from $295.00 to $305.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Seaport Res Ptn upgraded Ecolab from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st. Citigroup lowered their price target on Ecolab from $305.00 to $275.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Barclays reduced their price objective on Ecolab from $300.00 to $275.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Piper Sandler increased their price target on shares of Ecolab from $270.00 to $310.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $283.13.

Insiders Place Their Bets

In other news, Director David Maclennan purchased 500 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average cost of $251.75 per share, for a total transaction of $125,875.00. Following the completion of the purchase, the director now directly owns 19,465 shares of the company's stock, valued at approximately $4,900,313.75. The trade was a 2.64% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.50% of the company's stock.

About Ecolab

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.