Zevin Asset Management LLC Reduces Stock Holdings in Ecolab Inc. (NYSE:ECL)

Zevin Asset Management LLC trimmed its holdings in Ecolab Inc. (NYSE:ECL - Free Report) by 5.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,616 shares of the basic materials company's stock after selling 3,706 shares during the period. Ecolab accounts for approximately 2.8% of Zevin Asset Management LLC's holdings, making the stock its 11th largest holding. Zevin Asset Management LLC's holdings in Ecolab were worth $17,903,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ECL. Miracle Mile Advisors LLC grew its stake in Ecolab by 15.6% in 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 in the last quarter. Congress Wealth Management LLC DE grew its stake in Ecolab by 1.2% in 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ecolab by 19.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 120,176 shares of the basic materials company's stock worth $30,467,000 after acquiring an additional 19,431 shares in the last quarter. BLI Banque de Luxembourg Investments bought a new stake in shares of Ecolab during the 4th quarter worth about $3,257,000. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Ecolab by 20.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 5,278 shares of the basic materials company's stock worth $1,338,000 after acquiring an additional 884 shares in the last quarter. 74.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ECL shares. Seaport Res Ptn upgraded Ecolab from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st. Citigroup upped their target price on Ecolab from $285.00 to $325.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Redburn Atlantic cut Ecolab from a "buy" rating to a "neutral" rating and set a $270.00 target price for the company. in a research note on Monday, March 24th. Stifel Nicolaus lowered their price target on shares of Ecolab from $307.00 to $303.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Mizuho increased their price target on Ecolab from $285.00 to $305.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. 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 company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $288.33.

Insider Activity

In other news, Director David Maclennan purchased 500 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $251.75 per share, for a total transaction of $125,875.00. Following the completion of the acquisition, the director owned 19,465 shares in the company, valued at $4,900,313.75. This trade represents a 2.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.50% of the company's stock.

Ecolab Stock Performance

Shares of ECL stock traded up $0.69 during mid-day trading on Tuesday, reaching $268.80. The stock had a trading volume of 315,043 shares, compared to its average volume of 1,183,328. The firm has a market cap of $76.24 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 2.63 and a beta of 1.03. The business's fifty day moving average is $264.96 and its 200-day moving average is $254.44. Ecolab Inc. has a 1-year low of $220.96 and a 1-year high of $274.17. The company has a current ratio of 1.32, a quick ratio of 0.98 and a debt-to-equity ratio of 0.79.

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, meeting analysts' consensus estimates of $1.50. Ecolab had a return on equity of 22.53% and a net margin of 13.41%. The firm had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.71 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. Ecolab's quarterly revenue was down 1.5% on a year-over-year basis. On average, research analysts forecast that Ecolab Inc. will post 7.54 earnings per share for the current year.

Ecolab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 17th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Tuesday, June 17th. Ecolab's payout ratio is currently 35.33%.

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.

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