Whittier Trust Co. Boosts Stake in Ecolab Inc. (NYSE:ECL)

by · The Markets Daily

Whittier Trust Co. grew its holdings in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 3.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,417 shares of the basic materials company’s stock after buying an additional 2,293 shares during the quarter. Whittier Trust Co.’s holdings in Ecolab were worth $16,958,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Triad Wealth Partners LLC purchased a new stake in shares of Ecolab during the 2nd quarter worth $26,000. PSI Advisors LLC purchased a new stake in Ecolab during the second quarter valued at approximately $27,000. Kings Path Partners LLC purchased a new stake in shares of Ecolab during the second quarter worth about $27,000. LRI Investments LLC purchased a new stake in Ecolab during the 1st quarter worth approximately $31,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Ecolab in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 74.91% of the company’s stock.

Ecolab Stock Performance

Shares of NYSE ECL traded down $2.10 during midday trading on Monday, reaching $259.36. 304,097 shares of the company were exchanged, compared to its average volume of 1,084,691. The stock has a market cap of $74.07 billion, a P/E ratio of 48.42, a PEG ratio of 2.58 and a beta of 1.13. The company has a current ratio of 1.50, a quick ratio of 1.10 and a debt-to-equity ratio of 0.91. The stock has a fifty day simple moving average of $250.32 and a 200 day simple moving average of $239.91. Ecolab Inc. has a 1 year low of $156.72 and a 1 year high of $262.61.

Ecolab (NYSE:ECL – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.67 by $0.01. Ecolab had a return on equity of 21.65% and a net margin of 10.95%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the previous year, the company earned $1.24 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, research analysts forecast that Ecolab Inc. will post 6.65 earnings per share for the current fiscal year.

Ecolab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Tuesday, September 17th. Ecolab’s payout ratio is 42.22%.

Insider Buying and Selling at Ecolab

In related news, Director Victoria Reich sold 393 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $250.00, for a total value of $98,250.00. Following the sale, the director now directly owns 24,041 shares of the company’s stock, valued at $6,010,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ecolab news, Director David Maclennan acquired 650 shares of the stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $240.41 per share, with a total value of $156,266.50. Following the purchase, the director now directly owns 17,967 shares of the company’s stock, valued at approximately $4,319,446.47. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Victoria Reich sold 393 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $250.00, for a total value of $98,250.00. Following the sale, the director now owns 24,041 shares of the company’s stock, valued at $6,010,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ECL has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price objective on Ecolab from $260.00 to $306.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Wells Fargo & Company reissued a “market perform” rating on shares of Ecolab in a report on Friday. Jefferies Financial Group raised shares of Ecolab from a “hold” rating to a “buy” rating and raised their price target for the company from $235.00 to $310.00 in a research note on Friday. Bank of America raised Ecolab from a “neutral” rating to a “buy” rating and increased their target price for the company from $251.00 to $272.00 in a report on Wednesday, July 31st. Finally, UBS Group decreased their target price on Ecolab from $288.00 to $276.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $271.80.

Check Out Our Latest Research Report on ECL

About Ecolab

(Free Report)

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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