Bangor Savings Bank Has $75,000 Holdings in Ecolab Inc. (NYSE:ECL)

Bangor Savings Bank boosted its holdings in shares of Ecolab Inc. (NYSE:ECL) by 17.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 292 shares of the basic materials company’s stock after acquiring an additional 43 shares during the quarter. Bangor Savings Bank’s holdings in Ecolab were worth $75,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Triad Wealth Partners LLC acquired a new stake in Ecolab during the 2nd quarter worth about $26,000. PSI Advisors LLC acquired a new stake in Ecolab during the 2nd quarter worth about $27,000. Kings Path Partners LLC acquired a new stake in Ecolab during the 2nd quarter worth about $27,000. LRI Investments LLC acquired a new stake in Ecolab during the 1st quarter worth about $31,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Ecolab during the 2nd quarter worth about $33,000. 74.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Robert W. Baird raised their price target on Ecolab from $243.00 to $267.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Royal Bank of Canada raised their price target on Ecolab from $260.00 to $306.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Stifel Nicolaus raised Ecolab from a “hold” rating to a “buy” rating and raised their price target for the stock from $233.00 to $283.00 in a research note on Monday, July 8th. Wells Fargo & Company raised their price target on Ecolab from $270.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, UBS Group cut their price target on Ecolab from $288.00 to $276.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. 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 data from MarketBeat.com, Ecolab presently has an average rating of “Moderate Buy” and an average price target of $269.07.

Insider Transactions at Ecolab

In related news, Director Victoria Reich sold 393 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director David Maclennan purchased 650 shares of Ecolab stock in a transaction on Friday, August 2nd. The shares were purchased 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 in the company, valued at approximately $4,319,446.47. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Victoria Reich sold 393 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $250.00, for a total transaction of $98,250.00. Following the sale, 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 position. The disclosure for this sale can be found here. 0.04% of the stock is owned by insiders.

Ecolab Stock Performance

Shares of NYSE ECL opened at $252.59 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.50 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average is $246.26 and its two-hundred day moving average is $238.15. The company has a market cap 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. Ecolab Inc. has a 12 month low of $156.72 and a 12 month high of $256.59.

Ecolab (NYSE:ECL) last issued 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 company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same period in the previous year, the business posted $1.24 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities analysts expect that Ecolab Inc. will post 6.65 EPS for the current year.

Ecolab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Tuesday, September 17th. Ecolab’s payout ratio is presently 42.22%.

Ecolab 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.