Ecolab Inc. (NYSE:ECL) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc lessened its holdings in shares of Ecolab Inc. (NYSE:ECL) by 12.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 760,887 shares of the basic materials company’s stock after selling 109,553 shares during the quarter. Impax Asset Management Group plc’s holdings in Ecolab were worth $181,091,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new position in Ecolab during the 2nd quarter worth $26,000. PSI Advisors LLC acquired a new position in Ecolab during the 2nd quarter worth $27,000. Kings Path Partners LLC bought a new stake in shares of Ecolab in the 2nd quarter worth $27,000. LRI Investments LLC bought a new stake in shares of Ecolab in the 1st quarter worth $31,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Ecolab in the 2nd quarter worth $33,000. Institutional investors and hedge funds own 74.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ECL shares. Bank of America raised Ecolab from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $251.00 to $272.00 in a research note on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 price objective on shares of Ecolab in a research note on Wednesday, August 21st. Citigroup raised Ecolab from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $267.00 to $265.00 in a research note on Wednesday, July 31st. Robert W. Baird boosted their price objective on Ecolab from $243.00 to $267.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their target price on Ecolab from $225.00 to $228.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $254.67.

Insider Activity at Ecolab

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

Ecolab Stock Down 0.1 %

Shares of ECL traded down $0.22 during trading hours on Friday, reaching $246.48. The company’s stock had a trading volume of 26,515 shares, compared to its average volume of 1,124,045. The company has a 50 day moving average of $242.08 and a two-hundred day moving average of $233.65. 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 has a market cap of $70.39 billion, a price-to-earnings ratio of 45.69, a P/E/G ratio of 2.56 and a beta of 1.13. Ecolab Inc. has a 1-year low of $156.72 and a 1-year high of $253.54.

Ecolab (NYSE:ECL) last announced its quarterly earnings data 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 firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same period in the previous year, the firm posted $1.24 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. As a group, research analysts predict that Ecolab Inc. will post 6.65 EPS for the current fiscal year.

Ecolab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.57 per share. The ex-dividend date is Tuesday, September 17th. This represents a $2.28 annualized dividend and a dividend yield of 0.93%. Ecolab’s dividend payout ratio is 42.22%.

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.