Nuveen Asset Management LLC reduced its stake in shares of Ecolab Inc. (NYSE:ECL) by 25.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,378 shares of the basic materials company’s stock after selling 3,814 shares during the period. Nuveen Asset Management LLC’s holdings in Ecolab were worth $1,426,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in shares of Ecolab by 60.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 800 shares of the basic materials company’s stock valued at $100,000 after buying an additional 300 shares during the last quarter. JNBA Financial Advisors raised its stake in shares of Ecolab by 2.5% in the first quarter. JNBA Financial Advisors now owns 871 shares of the basic materials company’s stock valued at $109,000 after buying an additional 21 shares during the last quarter. Harfst & Associates Inc. acquired a new stake in shares of Ecolab during the first quarter valued at about $117,000. Guardian Life Insurance Co. of America raised its stake in shares of Ecolab by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,012 shares of the basic materials company’s stock valued at $127,000 after buying an additional 7 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Ecolab during the first quarter valued at about $134,000. Hedge funds and other institutional investors own 75.73% of the company’s stock.
Shares of Ecolab Inc. (NYSE:ECL) opened at 130.11 on Friday. Ecolab Inc. has a one year low of $110.65 and a one year high of $134.89. The company’s 50 day moving average is $132.07 and its 200 day moving average is $128.14. The company has a market cap of $37.65 billion, a P/E ratio of 29.75 and a beta of 0.98.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Tuesday, September 19th will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, September 18th. This represents a $1.48 dividend on an annualized basis and a yield of 1.14%. Ecolab’s dividend payout ratio (DPR) is presently 33.79%.
Several equities research analysts have issued reports on ECL shares. Canaccord Genuity lifted their price target on shares of Ecolab from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 28th. UBS AG reiterated a “buy” rating and issued a $147.00 price target (up from $144.00) on shares of Ecolab in a research note on Wednesday, August 2nd. Morgan Stanley started coverage on shares of Ecolab in a research note on Tuesday. They issued an “equal weight” rating and a $140.00 price target on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $130.00 price target on shares of Ecolab in a research note on Wednesday. Finally, Credit Suisse Group set a $128.00 price target on shares of Ecolab and gave the company a “hold” rating in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. Ecolab currently has a consensus rating of “Hold” and a consensus price target of $134.20.
In other news, EVP Stephen M. Taylor sold 23,151 shares of Ecolab stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $133.06, for a total value of $3,080,472.06. Following the completion of the transaction, the executive vice president now owns 44,466 shares in the company, valued at $5,916,645.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder William H. Gates III bought 75,500 shares of Ecolab stock in a transaction dated Thursday, August 3rd. The stock was acquired at an average price of $132.57 per share, with a total value of $10,009,035.00. The disclosure for this purchase can be found here. Insiders have sold 37,851 shares of company stock valued at $5,012,802 in the last 90 days. 1.49% of the stock is currently owned by corporate insiders.
Ecolab Company Profile
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s cleaning and sanitizing programs and products, pest elimination services and equipment maintenance and repair services support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors in over 170 countries.
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