Mirae Asset Global Investments Co. Ltd. Has $9.05 Million Stake in Ecolab Inc. (NYSE:ECL)

Mirae Asset Global Investments Co. Ltd. decreased its position in Ecolab Inc. (NYSE:ECLGet Rating) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,249 shares of the basic materials company’s stock after selling 378 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ecolab were worth $9,048,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ECL. US Asset Management LLC bought a new position in shares of Ecolab in the 1st quarter valued at about $25,000. Citizens National Bank Trust Department bought a new position in shares of Ecolab in the 4th quarter valued at about $35,000. Intelligent Financial Strategies bought a new position in shares of Ecolab in the 4th quarter valued at about $35,000. Quent Capital LLC bought a new position in shares of Ecolab in the 4th quarter valued at about $44,000. Finally, O Dell Group LLC grew its holdings in shares of Ecolab by 62.1% in the 1st quarter. O Dell Group LLC now owns 188 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Ecolab from $195.00 to $180.00 in a report on Wednesday, July 27th. UBS Group reduced their price target on Ecolab to $198.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Bank of America cut Ecolab from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $193.00 to $183.00 in a report on Wednesday, July 13th. Credit Suisse Group upgraded Ecolab from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $180.00 to $195.00 in a report on Friday, June 3rd. Finally, BMO Capital Markets assumed coverage on Ecolab in a report on Friday, June 3rd. They set a “hold” rating and a $191.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $193.78.

Insider Buying and Selling at Ecolab

In other Ecolab news, Director Arthur J. Higgins sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $166.74, for a total transaction of $533,568.00. Following the completion of the transaction, the director now directly owns 22,530 shares in the company, valued at $3,756,652.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder William H. Gates III bought 21,412 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were purchased at an average price of $169.78 per share, with a total value of $3,635,329.36. Following the completion of the purchase, the insider now owns 31,185,554 shares in the company, valued at approximately $5,294,683,358.12. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Arthur J. Higgins sold 3,200 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $166.74, for a total transaction of $533,568.00. Following the sale, the director now directly owns 22,530 shares in the company, valued at approximately $3,756,652.20. The disclosure for this sale can be found here. Insiders bought a total of 274,284 shares of company stock worth $47,244,385 over the last three months. Corporate insiders own 1.04% of the company’s stock.

Ecolab Stock Down 2.1 %

NYSE ECL opened at $156.52 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 0.84 and a debt-to-equity ratio of 1.15. Ecolab Inc. has a 1-year low of $143.82 and a 1-year high of $238.93. The company has a 50 day moving average of $165.28 and a 200-day moving average of $165.84. The company has a market cap of $44.61 billion, a price-to-earnings ratio of 40.76, a PEG ratio of 2.61 and a beta of 1.01.

Ecolab (NYSE:ECLGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The basic materials company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. Ecolab had a net margin of 8.17% and a return on equity of 18.56%. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the previous year, the business earned $1.22 earnings per share. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. On average, equities research analysts expect that Ecolab Inc. will post 4.78 earnings per share for the current fiscal year.

Ecolab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Tuesday, September 20th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, September 19th. This represents a $2.04 annualized dividend and a yield of 1.30%. Ecolab’s dividend payout ratio is currently 53.13%.

Ecolab Company Profile

(Get Rating)

Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through Global Industrial, Global Institutional & Specialty, and Global Healthcare & Life Sciences segments. 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.

See Also

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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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