Ecolab Inc. (NYSE:ECL) Shares Bought by Linscomb Wealth Inc.

Linscomb Wealth Inc. grew its position in Ecolab Inc. (NYSE:ECL) by 2.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,002 shares of the basic materials company’s stock after purchasing an additional 246 shares during the period. Linscomb Wealth Inc.’s holdings in Ecolab were worth $2,618,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new position in Ecolab during the 2nd quarter worth approximately $26,000. PSI Advisors LLC acquired a new stake in shares of Ecolab in the second quarter worth $27,000. Kings Path Partners LLC purchased a new position in shares of Ecolab during the second quarter worth $27,000. Motco acquired a new position in Ecolab during the fourth quarter valued at $28,000. Finally, LRI Investments LLC acquired a new stake in Ecolab during the 1st quarter worth about $31,000. 74.91% of the stock is currently owned by hedge funds and other institutional investors.

Ecolab Stock Up 0.6 %

Shares of ECL opened at $250.79 on Wednesday. The stock has a 50 day moving average price of $242.80 and a 200 day moving average price of $234.51. Ecolab Inc. has a one year low of $156.72 and a one year high of $253.54. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.10 and a current ratio of 1.50. The stock has a market capitalization of $71.62 billion, a price-to-earnings ratio of 46.44, a PEG ratio of 2.47 and a beta of 1.13.

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

Ecolab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be issued a $0.57 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $2.28 annualized dividend and a dividend yield of 0.91%. Ecolab’s dividend payout ratio is presently 42.22%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ECL. Stifel Nicolaus raised Ecolab from a “hold” rating to a “buy” rating and boosted their price objective for the company from $233.00 to $283.00 in a report on Monday, July 8th. Citigroup upgraded Ecolab from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $267.00 to $265.00 in a research report on Wednesday, July 31st. Robert W. Baird raised their price objective on shares of Ecolab from $243.00 to $267.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. UBS Group lowered their price target on shares of Ecolab from $288.00 to $276.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ecolab from $225.00 to $228.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $254.67.

Insider Buying and Selling

In other news, Director David Maclennan acquired 650 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $240.41 per share, with a total value of $156,266.50. Following the completion of the acquisition, the director now owns 17,967 shares of the company’s stock, valued at approximately $4,319,446.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Gregory B. Cook sold 3,811 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $249.33, for a total value of $950,196.63. Following the transaction, the executive vice president now owns 8,080 shares of the company’s stock, valued at approximately $2,014,586.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David Maclennan acquired 650 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $240.41 per share, with a total value 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. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company 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.