ProShare Advisors LLC Sells 44,728 Shares of Ecolab Inc. $ECL

ProShare Advisors LLC cut its position in Ecolab Inc. (NYSE:ECL) by 6.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 667,295 shares of the basic materials company’s stock after selling 44,728 shares during the quarter. ProShare Advisors LLC owned approximately 0.24% of Ecolab worth $182,745,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ECL. Corundum Trust Company INC acquired a new stake in Ecolab during the third quarter worth about $28,000. J.Safra Asset Management Corp increased its holdings in shares of Ecolab by 202.6% during the 2nd quarter. J.Safra Asset Management Corp now owns 115 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 77 shares in the last quarter. SJS Investment Consulting Inc. lifted its stake in shares of Ecolab by 1,177.8% in the 3rd quarter. SJS Investment Consulting Inc. now owns 115 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 106 shares during the period. Vermillion & White Wealth Management Group LLC boosted its holdings in Ecolab by 81.5% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 118 shares of the basic materials company’s stock worth $32,000 after buying an additional 53 shares in the last quarter. Finally, Winnow Wealth LLC acquired a new stake in Ecolab during the third quarter valued at $33,000. Hedge funds and other institutional investors own 74.91% of the company’s stock.

Insider Activity at Ecolab

In related news, Director David Maclennan bought 750 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were bought at an average price of $257.60 per share, with a total value of $193,200.00. Following the completion of the transaction, the director directly owned 23,035 shares of the company’s stock, valued at $5,933,816. This represents a 3.37% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christophe Beck sold 21,714 shares of Ecolab stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $261.41, for a total transaction of $5,676,256.74. Following the sale, the chief executive officer owned 72,644 shares of the company’s stock, valued at approximately $18,989,868.04. This represents a 23.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.04% of the stock is owned by insiders.

Ecolab Stock Up 1.2%

Shares of ECL opened at $290.63 on Monday. Ecolab Inc. has a 52-week low of $221.62 and a 52-week high of $291.08. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.83. The stock has a fifty day simple moving average of $270.82 and a two-hundred day simple moving average of $270.59. The company has a market capitalization of $82.32 billion, a PE ratio of 41.76, a price-to-earnings-growth ratio of 2.51 and a beta of 0.99.

Ecolab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Tuesday, December 16th were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, December 16th. This is a positive change from Ecolab’s previous quarterly dividend of $0.65. Ecolab’s dividend payout ratio is 41.95%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ECL. Erste Group Bank cut shares of Ecolab from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Wells Fargo & Company lifted their price objective on Ecolab from $270.00 to $275.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. Mizuho set a $315.00 target price on Ecolab in a report on Wednesday, October 29th. Citigroup lifted their price target on Ecolab from $315.00 to $324.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Finally, Barclays increased their price objective on Ecolab from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Ecolab has an average rating of “Moderate Buy” and an average target price of $297.33.

Ecolab Company Profile

Ecolab, Inc is a global provider of water, hygiene and infection prevention solutions and services. The company develops and supplies cleaning and sanitizing chemicals, dispensing equipment, water-treatment systems, pest elimination services and related technologies designed to help businesses maintain clean, safe and efficient operations. Its offerings span both products and onsite services, often paired with technical support and training.

Ecolab serves a broad range of end markets including hospitality and foodservice, food and beverage processing, healthcare, manufacturing and industrial operations, and energy and utilities.