Atomi Financial Group Inc. Grows Stake in Ecolab Inc. (NYSE:ECL)

Atomi Financial Group Inc. boosted its position in Ecolab Inc. (NYSE:ECL) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,996 shares of the basic materials company’s stock after purchasing an additional 178 shares during the period. Atomi Financial Group Inc.’s holdings in Ecolab were worth $1,531,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Swedbank AB acquired a new position in shares of Ecolab in the 1st quarter valued at $390,687,000. Marshall Wace LLP boosted its stake in shares of Ecolab by 295.2% in the second quarter. Marshall Wace LLP now owns 791,246 shares of the basic materials company’s stock valued at $188,317,000 after purchasing an additional 591,040 shares during the period. Vanguard Group Inc. grew its holdings in Ecolab by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 23,182,456 shares of the basic materials company’s stock valued at $4,598,240,000 after purchasing an additional 305,039 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in Ecolab by 580.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 303,565 shares of the basic materials company’s stock valued at $72,248,000 after purchasing an additional 258,971 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in Ecolab by 136.0% during the 2nd quarter. Natixis Advisors LLC now owns 359,106 shares of the basic materials company’s stock valued at $85,467,000 after purchasing an additional 206,973 shares in the last quarter. Institutional investors and hedge funds own 74.91% of the company’s stock.

Ecolab Stock Performance

Shares of ECL opened at $252.59 on Wednesday. The firm’s 50 day moving average is $246.26 and its 200-day moving average is $238.15. The stock has a market capitalization of $72.13 billion, a P/E ratio of 46.78, a P/E/G ratio of 2.57 and a beta of 1.13. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.50 and a quick ratio of 1.10. Ecolab Inc. has a 12-month low of $156.72 and a 12-month high of $256.59.

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

Ecolab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 0.90%. The ex-dividend date is Tuesday, September 17th. Ecolab’s dividend payout ratio (DPR) is currently 42.22%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ECL. BMO Capital Markets raised their price objective on shares of Ecolab from $234.00 to $260.00 and gave the stock a “market perform” rating in a report on Monday, September 30th. Robert W. Baird lifted their price target on shares of Ecolab from $243.00 to $267.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on shares of Ecolab from $270.00 to $295.00 and gave the company an “overweight” rating in a report on Monday. Piper Sandler lifted their price objective on shares of Ecolab from $270.00 to $305.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Finally, Bank of America upgraded shares of Ecolab from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $251.00 to $272.00 in a research report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.07.

Insider Transactions at Ecolab

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

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.