Ecolab Inc. (NYSE:ECL) Shares Acquired by Argent Trust Co

Argent Trust Co increased its position in Ecolab Inc. (NYSE:ECL) by 59.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,512 shares of the basic materials company’s stock after acquiring an additional 2,424 shares during the period. Argent Trust Co’s holdings in Ecolab were worth $1,550,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Meiji Yasuda Life Insurance Co grew its holdings in shares of Ecolab by 26.7% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 7,935 shares of the basic materials company’s stock worth $1,889,000 after acquiring an additional 1,670 shares during the period. Bradley Foster & Sargent Inc. CT grew its holdings in shares of Ecolab by 1.0% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 58,193 shares of the basic materials company’s stock worth $13,850,000 after acquiring an additional 597 shares during the period. Mutual of America Capital Management LLC grew its holdings in shares of Ecolab by 2.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 34,079 shares of the basic materials company’s stock worth $8,111,000 after acquiring an additional 806 shares during the period. Cranbrook Wealth Management LLC acquired a new stake in shares of Ecolab in the 2nd quarter worth approximately $600,000. Finally, Axxcess Wealth Management LLC grew its holdings in shares of Ecolab by 22.3% in the 2nd quarter. Axxcess Wealth Management LLC now owns 3,190 shares of the basic materials company’s stock worth $759,000 after acquiring an additional 581 shares during the period. Institutional investors and hedge funds own 74.91% of the company’s stock.

Ecolab Trading Down 0.7 %

Shares of Ecolab stock opened at $248.61 on Thursday. Ecolab Inc. has a fifty-two week low of $156.72 and a fifty-two week high of $253.57. The firm has a market cap of $71.00 billion, a PE ratio of 46.04, a P/E/G ratio of 2.52 and a beta of 1.13. The business’s fifty day moving average is $244.09 and its two-hundred day moving average is $235.56. The company has a quick ratio of 1.10, a current ratio of 1.50 and a debt-to-equity ratio of 0.91.

Ecolab (NYSE:ECL) last issued its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.01. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. Ecolab had a return on equity of 21.65% and a net margin of 10.95%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.24 EPS. Analysts anticipate that Ecolab Inc. will post 6.65 earnings per share for the current year.

Ecolab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Tuesday, September 17th. Ecolab’s dividend payout ratio (DPR) is currently 42.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ECL shares. Bank of America upgraded 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. Stifel Nicolaus upgraded Ecolab from a “hold” rating to a “buy” rating and increased their target price for the company from $233.00 to $283.00 in a report on Monday, July 8th. Citigroup upgraded Ecolab from a “neutral” rating to a “buy” rating and lowered their target price for the company from $267.00 to $265.00 in a report on Wednesday, July 31st. UBS Group lowered their target price on Ecolab from $288.00 to $276.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their target price on Ecolab from $225.00 to $228.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Ecolab currently has an average rating of “Moderate Buy” and a consensus price target of $257.73.

Insider Buying and Selling

In other news, Director David Maclennan bought 650 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $240.41 per share, with a total value of $156,266.50. Following the transaction, the director now owns 17,967 shares of the company’s stock, valued at approximately $4,319,446.47. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Ecolab news, Director Victoria Reich sold 393 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $250.00, for a total value of $98,250.00. Following the transaction, the director now directly owns 24,041 shares of the company’s stock, valued at $6,010,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Maclennan acquired 650 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $240.41 per share, for a total transaction of $156,266.50. Following the completion of the transaction, the director now directly owns 17,967 shares of the company’s stock, valued at $4,319,446.47. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

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.