Ecolab Inc. (NYSE:ECL) Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its position in shares of Ecolab Inc. (NYSE:ECL) by 6.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,845 shares of the basic materials company’s stock after buying an additional 228 shares during the period. Bleakley Financial Group LLC’s holdings in Ecolab were worth $982,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ECL. Triad Wealth Partners LLC acquired a new position in shares of Ecolab in the 2nd quarter valued at about $26,000. PSI Advisors LLC acquired a new stake in Ecolab during the 2nd quarter worth approximately $27,000. Kings Path Partners LLC purchased a new position in Ecolab in the second quarter valued at approximately $27,000. LRI Investments LLC acquired a new position in Ecolab during the first quarter valued at approximately $31,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Ecolab during the second quarter worth approximately $33,000. 74.91% of the stock is owned by hedge funds and other institutional investors.

Ecolab Price Performance

ECL opened at $261.46 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.10 and a current ratio of 1.50. Ecolab Inc. has a 1-year low of $156.72 and a 1-year high of $262.61. The company has a 50-day moving average of $250.32 and a 200-day moving average of $239.91. The company has a market capitalization of $74.67 billion, a P/E ratio of 48.42, a PEG ratio of 2.58 and a beta of 1.13.

Ecolab (NYSE:ECL) last announced its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $1.68 earnings per share for the quarter, beating 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 firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same period in the previous year, the company earned $1.24 earnings per share. Ecolab’s quarterly revenue was up 3.5% on a year-over-year basis. Equities analysts expect that Ecolab Inc. will post 6.65 EPS for the current fiscal year.

Ecolab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Tuesday, September 17th. Ecolab’s dividend payout ratio is presently 42.22%.

Analyst Upgrades and Downgrades

ECL has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Ecolab from $225.00 to $228.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Jefferies Financial Group raised Ecolab from a “hold” rating to a “buy” rating and raised their price objective for the company from $235.00 to $310.00 in a research report on Friday. Royal Bank of Canada upped their target price on Ecolab from $260.00 to $306.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. 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 research note on Wednesday, July 31st. Finally, Piper Sandler boosted their price target on Ecolab from $270.00 to $305.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Seven research 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 a consensus rating of “Moderate Buy” and a consensus target price of $271.80.

Insider Buying and Selling at Ecolab

In other news, Director Victoria Reich sold 393 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $6,010,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director David Maclennan bought 650 shares of the business’s stock in a transaction 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 purchase, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Victoria Reich sold 393 shares of the business’s stock in a transaction 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. 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 insiders.

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.