Smithbridge Asset Management Inc. DE Has $5.05 Million Stake in Ecolab Inc. (NYSE:ECL)

Smithbridge Asset Management Inc. DE lifted its stake in shares of Ecolab Inc. (NYSE:ECL) by 1.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,793 shares of the basic materials company’s stock after acquiring an additional 232 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Ecolab were worth $5,054,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Triad Wealth Partners LLC bought a new position in shares of Ecolab during the 2nd quarter worth about $26,000. PSI Advisors LLC acquired a new stake in Ecolab in the second quarter valued at approximately $27,000. Kings Path Partners LLC bought a new stake in shares of Ecolab during the second quarter valued at approximately $27,000. LRI Investments LLC acquired a new position in shares of Ecolab during the first quarter worth approximately $31,000. Finally, Meeder Asset Management Inc. acquired a new stake in Ecolab in the 2nd quarter valued at $33,000. 74.91% of the stock is owned by institutional investors.

Ecolab Trading Up 1.1 %

NYSE ECL opened at $256.19 on Monday. The stock’s 50-day simple moving average is $252.07 and its two-hundred day simple moving average is $241.03. Ecolab Inc. has a twelve month low of $157.59 and a twelve month 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 company has a market capitalization of $72.90 billion, a price-to-earnings ratio of 42.53, a PEG ratio of 2.61 and a beta of 1.13.

Ecolab (NYSE:ECL) last announced 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. Ecolab had a net margin of 10.95% and a return on equity of 21.65%. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same period in the previous year, the business posted $1.24 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. Research analysts forecast that Ecolab Inc. will post 6.65 EPS for the current fiscal year.

Ecolab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were given a $0.57 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $2.28 annualized dividend and a yield of 0.89%. Ecolab’s payout ratio is currently 38.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ECL shares. Piper Sandler lifted their price objective on shares of Ecolab from $270.00 to $305.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Stifel Nicolaus raised Ecolab from a “hold” rating to a “buy” rating and increased their price objective for the stock from $233.00 to $283.00 in a research note on Monday, July 8th. Bank of America upgraded Ecolab from a “neutral” rating to a “buy” rating and raised their target price for the company from $251.00 to $272.00 in a report on Wednesday, July 31st. UBS Group decreased their price objective on shares of Ecolab from $288.00 to $276.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Finally, Jefferies Financial Group raised Ecolab from a “hold” rating to a “buy” rating and increased their price target for the company from $235.00 to $310.00 in a research report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $271.80.

Insider Activity

In related news, EVP Gregory B. Cook sold 3,811 shares of Ecolab 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 transaction, the executive vice president now directly owns 8,080 shares of the company’s stock, valued at $2,014,586.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Gregory B. Cook sold 3,811 shares of the firm’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 sale, the executive vice president now directly owns 8,080 shares of the company’s stock, valued at $2,014,586.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David Maclennan purchased 650 shares of the stock in a transaction 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 transaction, the director now directly owns 17,967 shares in the company, valued at $4,319,446.47. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Ecolab Company 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.