Ecolab Inc. (NYSE:ECL) Shares Sold by Eagle Ridge Investment Management

Eagle Ridge Investment Management reduced its stake in shares of Ecolab Inc. (NYSE:ECL) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,266 shares of the basic materials company’s stock after selling 111 shares during the period. Eagle Ridge Investment Management’s holdings in Ecolab were worth $4,664,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sound Income Strategies LLC increased its stake in shares of Ecolab by 4,840.0% in the 1st quarter. Sound Income Strategies LLC now owns 247 shares of the basic materials company’s stock worth $57,000 after acquiring an additional 242 shares during the last quarter. Brookstone Capital Management acquired a new stake in Ecolab during the first quarter worth about $231,000. Transform Wealth LLC increased its position in Ecolab by 5.4% during the first quarter. Transform Wealth LLC now owns 1,116 shares of the basic materials company’s stock worth $258,000 after purchasing an additional 57 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Ecolab during the first quarter worth about $247,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in Ecolab by 7.1% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 5,633 shares of the basic materials company’s stock valued at $1,301,000 after purchasing an additional 375 shares during the last quarter. 74.91% of the stock is currently owned by hedge funds and other institutional investors.

Ecolab Price Performance

Shares of ECL opened at $256.38 on Friday. The company has a market cap of $73.21 billion, a P/E ratio of 47.48, a PEG ratio of 2.58 and a beta of 1.13. Ecolab Inc. has a fifty-two week low of $156.72 and a fifty-two week high of $262.61. 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 firm’s 50 day moving average price is $251.48 and its 200 day moving average price is $240.49.

Ecolab (NYSE:ECL) last posted its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.01. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. Ecolab had a return on equity of 21.65% and a net margin of 10.95%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 earnings per share. On average, 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 was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Tuesday, September 17th. Ecolab’s dividend payout ratio is currently 42.22%.

Analyst Ratings Changes

ECL has been the topic of several analyst reports. Robert W. Baird lifted their price target on shares of Ecolab from $243.00 to $267.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company restated a “market perform” rating on shares of Ecolab in a research report on Friday, October 18th. JPMorgan Chase & Co. increased their price target on Ecolab from $225.00 to $228.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Stifel Nicolaus raised Ecolab from a “hold” rating to a “buy” rating and raised their price objective for the stock from $233.00 to $283.00 in a research report on Monday, July 8th. Finally, UBS Group decreased their target price on shares of Ecolab from $288.00 to $276.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Ecolab presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.80.

Insider Activity

In other news, Director David Maclennan bought 650 shares of the business’s stock in a transaction that occurred 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 purchase, the director now owns 17,967 shares of the company’s stock, valued at approximately $4,319,446.47. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director David Maclennan bought 650 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price 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 in the company, valued at approximately $4,319,446.47. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregory B. Cook sold 3,811 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $249.33, for a total value of $950,196.63. Following the completion of the transaction, the executive vice president now directly owns 8,080 shares in the company, valued at $2,014,586.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.04% of the company’s stock.

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.