Optimum Investment Advisors cut its holdings in Ecolab Inc. (NYSE:ECL) by 13.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 497 shares of the basic materials company’s stock after selling 80 shares during the period. Optimum Investment Advisors’ holdings in Ecolab were worth $73,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Tributary Capital Management LLC bought a new stake in shares of Ecolab during the 4th quarter valued at $25,000. Ruggie Capital Group bought a new stake in Ecolab in the 4th quarter valued at $30,000. Parkside Financial Bank & Trust increased its holdings in Ecolab by 50.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 214 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 72 shares during the last quarter. Financial Gravity Companies Inc. bought a new stake in Ecolab in the 4th quarter valued at $37,000. Finally, Contravisory Investment Management Inc. bought a new stake in Ecolab in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 77.29% of the company’s stock.
ECL has been the topic of a number of research reports. Bank of America initiated coverage on shares of Ecolab in a report on Tuesday, October 23rd. They issued a “buy” rating and a $123.00 price target on the stock. Boenning Scattergood reiterated a “buy” rating and issued a $210.00 price target on shares of Ecolab in a report on Tuesday, February 5th. Deutsche Bank lifted their price target on shares of Ecolab from $150.00 to $162.00 and gave the company a “hold” rating in a report on Monday, November 5th. BMO Capital Markets lifted their price target on shares of Ecolab from $151.00 to $159.00 and gave the company a “hold” rating in a report on Thursday, November 1st. Finally, Zacks Investment Research upgraded shares of Ecolab from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $159.36.
NYSE:ECL opened at $162.38 on Wednesday. The company has a market cap of $46.47 billion, a price-to-earnings ratio of 34.62, a P/E/G ratio of 2.10 and a beta of 0.89. Ecolab Inc. has a twelve month low of $127.19 and a twelve month high of $162.91. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.79.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Shareholders of record on Tuesday, December 18th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Monday, December 17th. This is an increase from Ecolab’s previous quarterly dividend of $0.41. Ecolab’s payout ratio is currently 39.23%.
Ecolab Inc provides water, hygiene, and energy technologies and services for customers worldwide. The company operates through Global Industrial, Global Institutional, and Global Energy segments. The Global Industrial segment provides water treatment and process applications, and cleaning and sanitizing solutions primarily to large industrial customers within the manufacturing, food and beverage processing, chemical, mining and primary metals, power generation, pulp and paper, and commercial laundry industries.
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