USA Financial Formulas Buys 3,610 Shares of Ecolab Inc. (NYSE:ECL)

USA Financial Formulas raised its stake in Ecolab Inc. (NYSE:ECL) by 117.0% in the third quarter, Holdings Channel reports. The firm owned 6,696 shares of the basic materials company’s stock after acquiring an additional 3,610 shares during the quarter. Ecolab comprises approximately 0.3% of USA Financial Formulas’ investment portfolio, making the stock its 20th biggest position. USA Financial Formulas’ holdings in Ecolab were worth $1,710,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Bangor Savings Bank raised its holdings in shares of Ecolab by 17.3% in the 3rd quarter. Bangor Savings Bank now owns 292 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 43 shares during the period. Pine Haven Investment Counsel Inc increased its holdings in shares of Ecolab by 1.6% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,840 shares of the basic materials company’s stock worth $676,000 after acquiring an additional 44 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in Ecolab by 42.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 152 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 45 shares during the period. Miracle Mile Advisors LLC lifted its holdings in Ecolab by 1.1% during the 1st quarter. Miracle Mile Advisors LLC now owns 4,290 shares of the basic materials company’s stock valued at $990,000 after purchasing an additional 47 shares during the last quarter. Finally, TIAA Trust National Association boosted its position in Ecolab by 0.8% during the second quarter. TIAA Trust National Association now owns 6,122 shares of the basic materials company’s stock worth $1,457,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 74.91% of the company’s stock.

Ecolab Stock Performance

Shares of Ecolab stock opened at $255.68 on Thursday. The company has a current ratio of 1.50, a quick ratio of 1.10 and a debt-to-equity ratio of 0.91. The company has a market cap of $73.01 billion, a PE ratio of 47.35, a price-to-earnings-growth ratio of 2.57 and a beta of 1.13. The company has a 50 day moving average of $247.24 and a 200-day moving average of $238.44. Ecolab Inc. has a 1-year low of $156.72 and a 1-year high of $256.59.

Ecolab (NYSE:ECL) last released its earnings results on Tuesday, July 30th. The basic materials company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.01. Ecolab had a return on equity of 21.65% and a net margin of 10.95%. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the prior year, the company earned $1.24 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, equities research analysts forecast that Ecolab Inc. will post 6.65 earnings per share for the current fiscal year.

Ecolab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.89%. The ex-dividend date is Tuesday, September 17th. Ecolab’s payout ratio is 42.22%.

Insider Transactions at Ecolab

In related news, Director Victoria Reich sold 393 shares of Ecolab stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $250.00, for a total transaction of $98,250.00. Following the sale, the director now directly owns 24,041 shares of the company’s stock, valued at approximately $6,010,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Victoria Reich sold 393 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $250.00, for a total transaction of $98,250.00. Following the sale, the director now owns 24,041 shares in the company, valued at $6,010,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gregory B. Cook sold 3,811 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $249.33, for a total value of $950,196.63. Following the completion of the transaction, the executive vice president now owns 8,080 shares of the company’s stock, valued at $2,014,586.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on ECL shares. Robert W. Baird lifted their target price on shares of Ecolab from $243.00 to $267.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their price objective on shares of Ecolab from $270.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday. BMO Capital Markets upped their target price on Ecolab from $234.00 to $260.00 and gave the company a “market perform” rating in a research report on Monday, September 30th. Bank of America raised Ecolab from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $251.00 to $272.00 in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price objective on Ecolab from $225.00 to $228.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Ecolab presently has a consensus rating of “Moderate Buy” and an average target price of $269.07.

Ecolab Company Profile

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.