PNC Financial Services Group Inc. Has $31.05 Million Stock Position in Ecolab Inc. (NYSE:ECL)

PNC Financial Services Group Inc. cut its stake in Ecolab Inc. (NYSE:ECLFree Report) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,515 shares of the basic materials company’s stock after selling 1,347 shares during the period. PNC Financial Services Group Inc. owned about 0.05% of Ecolab worth $31,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ECL. First Personal Financial Services acquired a new position in Ecolab in the fourth quarter valued at about $26,000. Hexagon Capital Partners LLC boosted its stake in Ecolab by 150.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 135 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 81 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Ecolab in the fourth quarter valued at $29,000. Knuff & Co LLC bought a new position in shares of Ecolab in the fourth quarter valued at about $40,000. Finally, MCF Advisors LLC grew its holdings in Ecolab by 42.5% during the 4th quarter. MCF Advisors LLC now owns 208 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 62 shares during the last quarter. Institutional investors own 74.91% of the company’s stock.

Insider Buying and Selling

In related news, Director David Maclennan acquired 650 shares of the stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $227.37 per share, for a total transaction of $147,790.50. Following the completion of the transaction, the director now directly owns 17,111 shares of the company’s stock, valued at $3,890,528.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ecolab news, Director Arthur J. Higgins sold 4,500 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $227.52, for a total value of $1,023,840.00. Following the transaction, the director now directly owns 25,548 shares of the company’s stock, valued at $5,812,680.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Maclennan acquired 650 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $227.37 per share, for a total transaction of $147,790.50. Following the completion of the purchase, the director now owns 17,111 shares in the company, valued at approximately $3,890,528.07. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Piper Sandler began coverage on Ecolab in a report on Wednesday, April 3rd. They set an “overweight” rating and a $260.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Ecolab from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Wolfe Research began coverage on shares of Ecolab in a report on Friday, March 1st. They set a “peer perform” rating for the company. Robert W. Baird raised their price target on Ecolab from $232.00 to $243.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Citigroup lifted their price objective on shares of Ecolab from $256.00 to $257.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $236.88.

Get Our Latest Stock Analysis on Ecolab

Ecolab Stock Up 0.5 %

ECL stock opened at $234.81 on Tuesday. The company has a market cap of $67.05 billion, a price-to-earnings ratio of 43.48, a P/E/G ratio of 2.62 and a beta of 1.09. Ecolab Inc. has a twelve month low of $156.72 and a twelve month high of $235.85. The business has a 50 day moving average price of $226.57 and a two-hundred day moving average price of $209.01. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 0.92.

Ecolab (NYSE:ECLGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. The business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Ecolab had a return on equity of 20.56% and a net margin of 10.01%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 earnings per share. Analysts anticipate that Ecolab Inc. will post 6.59 EPS for the current fiscal year.

Ecolab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, June 18th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Tuesday, June 18th. Ecolab’s dividend payout ratio (DPR) is presently 42.22%.

Ecolab Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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