Ecolab Inc. (NYSE:ECL) Shares Sold by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System reduced its stake in Ecolab Inc. by 12.5%, holding 11,673 shares valued at approximately $2.96 million as of its latest SEC filing.
• In a series of recent analyst ratings, Ecolab received multiple upgrades, with a consensus rating of "Buy" and an average price target of $290.71.
• Ecolab recently reported quarterly earnings of $1.89 EPS, slightly missing analyst estimates, while also declaring a quarterly dividend of $0.65 to be paid on October 15th.

Maryland State Retirement & Pension System cut its holdings in shares of Ecolab Inc. (NYSE:ECL - Free Report) by 12.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,673 shares of the basic materials company's stock after selling 1,660 shares during the period. Maryland State Retirement & Pension System's holdings in Ecolab were worth $2,959,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dunhill Financial LLC increased its stake in Ecolab by 176.7% during the first quarter. Dunhill Financial LLC now owns 119 shares of the basic materials company's stock worth $30,000 after purchasing an additional 76 shares during the period. Navigoe LLC purchased a new stake in Ecolab during the fourth quarter worth about $31,000. Accredited Wealth Management LLC purchased a new stake in Ecolab during the fourth quarter worth about $33,000. Ridgewood Investments LLC increased its stake in Ecolab by 70.6% during the first quarter. Ridgewood Investments LLC now owns 145 shares of the basic materials company's stock worth $37,000 after purchasing an additional 60 shares during the period. Finally, City Holding Co. purchased a new stake in Ecolab during the first quarter worth about $39,000. 74.91% of the stock is currently owned by hedge funds and other institutional investors.

Ecolab Stock Performance

Shares of Ecolab stock traded up $3.06 during trading on Friday, reaching $272.83. The company's stock had a trading volume of 833,178 shares, compared to its average volume of 1,136,417. The company has a 50-day moving average price of $267.21 and a two-hundred day moving average price of $257.72. The firm has a market cap of $77.38 billion, a PE ratio of 36.43, a P/E/G ratio of 2.79 and a beta of 1.06. Ecolab Inc. has a fifty-two week low of $221.62 and a fifty-two week high of $274.17. The company has a current ratio of 1.44, a quick ratio of 1.12 and a debt-to-equity ratio of 0.80.

Ecolab (NYSE:ECL - Get Free Report) last announced its earnings results on Tuesday, July 29th. The basic materials company reported $1.89 EPS for the quarter, missing analysts' consensus estimates of $1.90 by ($0.01). The business had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.03 billion. Ecolab had a net margin of 13.59% and a return on equity of 22.52%. On average, analysts forecast that Ecolab Inc. will post 7.54 EPS for the current year.

Ecolab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 annualized dividend and a dividend yield of 1.0%. Ecolab's dividend payout ratio (DPR) is currently 34.71%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup cut their target price on shares of Ecolab from $320.00 to $315.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. Seaport Res Ptn upgraded shares of Ecolab from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. Stifel Nicolaus cut their target price on shares of Ecolab from $307.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Wells Fargo & Company set a $260.00 target price on shares of Ecolab and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Finally, Baird R W upgraded shares of Ecolab from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $290.71.

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.