State of Alaska Department of Revenue Raises Stock Position in Ecolab Inc. (NYSE:ECL)

State of Alaska Department of Revenue grew its holdings in Ecolab Inc. (NYSE:ECL) by 64.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,698 shares of the basic materials company’s stock after buying an additional 25,293 shares during the period. State of Alaska Department of Revenue’s holdings in Ecolab were worth $12,812,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Certified Advisory Corp purchased a new position in shares of Ecolab in the 2nd quarter worth $25,000. Krane Funds Advisors LLC bought a new stake in shares of Ecolab in the 2nd quarter worth about $25,000. Next Capital Management LLC bought a new stake in shares of Ecolab in the 2nd quarter worth about $27,000. Putnam FL Investment Management Co. bought a new stake in shares of Ecolab in the 2nd quarter worth about $28,000. Finally, Permanens Capital L.P. bought a new stake in shares of Ecolab in the 1st quarter worth about $26,000. 75.95% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Darrell R. Brown sold 2,280 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $207.95, for a total value of $474,126.00. Following the completion of the sale, the executive vice president now owns 8,061 shares in the company, valued at approximately $1,676,284.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alex N. Blanco sold 51,400 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $203.07, for a total transaction of $10,437,798.00. Following the completion of the sale, the executive vice president now owns 59,425 shares of the company’s stock, valued at approximately $12,067,434.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,358 shares of company stock valued at $13,423,309. Company insiders own 1.52% of the company’s stock.

Shares of NYSE:ECL traded up $2.98 during trading hours on Friday, hitting $195.81. The company’s stock had a trading volume of 25,019 shares, compared to its average volume of 1,059,344. Ecolab Inc. has a 52 week low of $135.77 and a 52 week high of $209.87. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.18 and a quick ratio of 0.78. The company has a market capitalization of $56.36 billion, a price-to-earnings ratio of 37.31, a P/E/G ratio of 2.66 and a beta of 0.81. The firm’s fifty day moving average price is $201.17 and its 200 day moving average price is $191.96.

Ecolab (NYSE:ECL) last posted its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.41 by $0.01. Ecolab had a net margin of 10.12% and a return on equity of 19.81%. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the business posted $1.27 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts predict that Ecolab Inc. will post 5.91 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be issued a $0.46 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.84 annualized dividend and a dividend yield of 0.94%. Ecolab’s dividend payout ratio is currently 35.05%.

Several equities research analysts have recently issued reports on the stock. Credit Suisse Group set a $181.00 target price on shares of Ecolab and gave the stock a “neutral” rating in a report on Wednesday, July 31st. BMO Capital Markets lifted their price objective on shares of Ecolab from $180.00 to $208.00 and gave the company a “market perform” rating in a report on Monday, August 5th. UBS Group set a $202.00 price objective on shares of Ecolab and gave the company a “hold” rating in a report on Wednesday, July 31st. Nomura lifted their price objective on shares of Ecolab from $208.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Canaccord Genuity lifted their price objective on shares of Ecolab from $198.00 to $222.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $192.00.

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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