Ecolab Inc. (NYSE:ECL) Stake Lowered by DNB Asset Management AS

DNB Asset Management AS lessened its holdings in Ecolab Inc. (NYSE:ECL) by 5.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,502 shares of the basic materials company’s stock after selling 2,424 shares during the period. DNB Asset Management AS’s holdings in Ecolab were worth $7,680,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Webster Bank N. A. lifted its stake in Ecolab by 0.5% in the first quarter. Webster Bank N. A. now owns 25,876 shares of the basic materials company’s stock worth $4,568,000 after acquiring an additional 131 shares during the period. Pacer Advisors Inc. raised its holdings in Ecolab by 13,070.7% in the first quarter. Pacer Advisors Inc. now owns 21,600 shares of the basic materials company’s stock worth $3,813,000 after purchasing an additional 21,436 shares in the last quarter. We Are One Seven LLC raised its holdings in Ecolab by 85.9% in the first quarter. We Are One Seven LLC now owns 1,288 shares of the basic materials company’s stock worth $227,000 after purchasing an additional 595 shares in the last quarter. Aries Wealth Management acquired a new position in shares of Ecolab during the first quarter valued at about $214,000. Finally, Huntington National Bank increased its holdings in shares of Ecolab by 13.0% during the first quarter. Huntington National Bank now owns 196,462 shares of the basic materials company’s stock valued at $34,684,000 after acquiring an additional 22,643 shares in the last quarter. Institutional investors own 76.28% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Ecolab from a “sell” rating to a “hold” rating in a report on Thursday. Canaccord Genuity upped their target price on Ecolab from $186.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America reiterated a “buy” rating and issued a $200.00 target price (up previously from $178.00) on shares of Ecolab in a research report on Wednesday. BMO Capital Markets upped their price objective on Ecolab from $169.00 to $180.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Nomura lowered their price objective on Ecolab from $210.00 to $208.00 and set a “buy” rating on the stock in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Ecolab presently has a consensus rating of “Hold” and an average price target of $178.27.

In other Ecolab news, CEO Douglas M. Baker, Jr. sold 157,125 shares of Ecolab stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $170.14, for a total transaction of $26,733,247.50. Following the transaction, the chief executive officer now owns 536,060 shares of the company’s stock, valued at $91,205,248.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Angela M. Busch sold 3,027 shares of Ecolab stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $172.26, for a total value of $521,431.02. Following the transaction, the executive vice president now directly owns 18,907 shares in the company, valued at approximately $3,256,919.82. The disclosure for this sale can be found here. Insiders sold a total of 306,458 shares of company stock valued at $52,489,544 in the last quarter. Company insiders own 1.52% of the company’s stock.

Shares of NYSE:ECL traded up $0.68 during midday trading on Friday, reaching $185.00. 777,639 shares of the company’s stock were exchanged, compared to its average volume of 1,022,465. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $53.35 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 2.51 and a beta of 0.89. Ecolab Inc. has a fifty-two week low of $135.77 and a fifty-two week high of $186.34.

Ecolab (NYSE:ECL) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. Ecolab had a return on equity of 19.50% and a net margin of 10.06%. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period last year, the business posted $0.91 EPS. Ecolab’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts predict that Ecolab Inc. will post 5.9 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Monday, June 17th. Ecolab’s payout ratio is presently 35.05%.

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About Ecolab

Ecolab Inc provides water, hygiene, and energy technologies and services worldwide. The company operates through Global Industrial, Global Institutional, Global Energy, and Other segments. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions primarily to industrial customers within the manufacturing, food and beverage processing, transportation, chemical, primary metals and mining, power generation, pulp and paper, pharmaceutical, and commercial laundry.

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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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