Virtu Financial LLC Cuts Stock Position in Ecolab Inc. (NYSE:ECL)

Key Points

• Virtu Financial LLC significantly reduced its holdings in Ecolab Inc. by 76.4% during the first quarter, leaving them with 3,428 shares valued at approximately $869,000.
• Multiple analysts have upgraded Ecolab's stock ratings recently, with price targets ranging from $260.00 to $305.00, indicating a consensus rating of "Buy".
• Ecolab announced a quarterly dividend of $0.65 per share, with an annualized dividend yield of 0.9%, set to be paid on October 15th.

Virtu Financial LLC cut its holdings in Ecolab Inc. (NYSE:ECL - Free Report) by 76.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,428 shares of the basic materials company's stock after selling 11,076 shares during the period. Virtu Financial LLC's holdings in Ecolab were worth $869,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Berger Financial Group Inc increased its stake in shares of Ecolab by 7.2% in the first quarter. Berger Financial Group Inc now owns 2,615 shares of the basic materials company's stock worth $663,000 after purchasing an additional 175 shares in the last quarter. True North Advisors LLC purchased a new stake in shares of Ecolab in the first quarter worth $207,000. Johnson Financial Group LLC increased its stake in shares of Ecolab by 18.9% in the first quarter. Johnson Financial Group LLC now owns 4,337 shares of the basic materials company's stock worth $1,099,000 after purchasing an additional 688 shares in the last quarter. Frank Rimerman Advisors LLC increased its stake in shares of Ecolab by 16.4% in the first quarter. Frank Rimerman Advisors LLC now owns 2,362 shares of the basic materials company's stock worth $599,000 after purchasing an additional 332 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Ecolab in the first quarter worth $530,000. 74.91% of the stock is currently owned by institutional investors.

Ecolab Trading Up 0.3%

ECL traded up $0.87 on Friday, reaching $280.85. 1,250,289 shares of the company traded hands, compared to its average volume of 1,312,470. Ecolab Inc. has a one year low of $221.62 and a one year high of $281.96. The firm has a fifty day simple moving average of $268.16 and a two-hundred day simple moving average of $258.47. The company has a market cap of $79.65 billion, a P/E ratio of 37.50, a price-to-earnings-growth ratio of 2.88 and a beta of 1.06. The company has a quick ratio of 1.12, a current ratio of 1.44 and a debt-to-equity ratio of 0.80.

Ecolab (NYSE:ECL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $1.89 earnings per share for the quarter, missing analysts' consensus estimates of $1.90 by ($0.01). Ecolab had a net margin of 13.59% and a return on equity of 22.52%. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.03 billion. As a group, equities research analysts expect that Ecolab Inc. will post 7.54 earnings per share for the current year.

Ecolab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. Ecolab's dividend payout ratio (DPR) is 34.71%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ECL. Wells Fargo & Company set a $260.00 price objective on shares of Ecolab and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Barclays reduced their price objective on shares of Ecolab from $300.00 to $275.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Baird R W raised shares of Ecolab from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. UBS Group reaffirmed a "neutral" rating and set a $295.00 target price (up from $293.00) on shares of Ecolab in a research note on Thursday. Finally, Seaport Res Ptn raised shares of Ecolab from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Ecolab currently has a consensus rating of "Moderate Buy" and an average price target of $291.21.

Insider Transactions at Ecolab

In other Ecolab news, SVP Jennifer J. Bradway sold 807 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $279.28, for a total transaction of $225,378.96. Following the transaction, the senior vice president owned 4,326 shares of the company's stock, valued at approximately $1,208,165.28. This trade represents a 15.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Maclennan bought 600 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were acquired at an average cost of $278.51 per share, for a total transaction of $167,106.00. Following the transaction, the director directly owned 20,253 shares in the company, valued at approximately $5,640,663.03. This trade represents a 3.05% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company's stock.

Ecolab 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.