M&T Bank Corp cut its holdings in Ecolab Inc. (NYSE:ECL) by 6.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,992 shares of the basic materials company’s stock after selling 4,118 shares during the period. M&T Bank Corp’s holdings in Ecolab were worth $12,533,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Man Group plc grew its holdings in Ecolab by 99.8% during the 4th quarter. Man Group plc now owns 35,152 shares of the basic materials company’s stock valued at $6,784,000 after buying an additional 17,558 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Ecolab by 53.5% in the fourth quarter. Sunbelt Securities Inc. now owns 3,206 shares of the basic materials company’s stock worth $377,000 after buying an additional 1,117 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Ecolab by 84.1% in the fourth quarter. Quadrant Capital Group LLC now owns 808 shares of the basic materials company’s stock worth $141,000 after buying an additional 369 shares during the last quarter. Fulton Bank N.A. boosted its stake in shares of Ecolab by 8.4% in the first quarter. Fulton Bank N.A. now owns 5,825 shares of the basic materials company’s stock worth $907,000 after buying an additional 453 shares during the last quarter. Finally, Triangle Securities Wealth Management boosted its stake in shares of Ecolab by 4.5% in the first quarter. Triangle Securities Wealth Management now owns 4,044 shares of the basic materials company’s stock worth $630,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 74.14% of the company’s stock.
Shares of Ecolab stock opened at $187.08 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.60 and a quick ratio of 1.15. Ecolab Inc. has a 1 year low of $124.60 and a 1 year high of $231.36. The company has a market capitalization of $55.25 billion, a P/E ratio of -63.42, a P/E/G ratio of 4.28 and a beta of 1.00. The business has a 50 day moving average price of $202.22 and a 200 day moving average price of $192.99.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 16th were issued a $0.47 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.88 annualized dividend and a yield of 1.00%. Ecolab’s dividend payout ratio (DPR) is presently 32.30%.
ECL has been the subject of a number of analyst reports. Stifel Nicolaus upped their price target on Ecolab from $164.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Gabelli lowered Ecolab from a “buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. BMO Capital Markets increased their price objective on Ecolab from $171.00 to $177.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. G.Research lowered Ecolab from a “buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Finally, TheStreet cut Ecolab from an “a-” rating to a “c+” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. Ecolab presently has a consensus rating of “Hold” and an average target price of $190.43.
In other Ecolab news, Director Victoria Reich sold 1,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $209.93, for a total value of $209,930.00. Following the completion of the transaction, the director now directly owns 21,306 shares in the company, valued at approximately $4,472,768.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy P. Mulhere sold 7,388 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $196.35, for a total transaction of $1,450,633.80. Following the sale, the executive vice president now directly owns 24,160 shares of the company’s stock, valued at $4,743,816. The disclosure for this sale can be found here. Insiders sold a total of 49,023 shares of company stock valued at $10,095,797 over the last quarter. 1.22% of the stock is currently owned by insiders.
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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