OLD National Bancorp IN Sells 130 Shares of Ecolab Inc. (NYSE:ECL)

OLD National Bancorp IN decreased its position in Ecolab Inc. (NYSE:ECL) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,787 shares of the basic materials company’s stock after selling 130 shares during the period. OLD National Bancorp IN’s holdings in Ecolab were worth $1,733,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new position in shares of Ecolab in the 2nd quarter valued at about $26,000. PSI Advisors LLC bought a new position in Ecolab in the second quarter valued at approximately $27,000. Kings Path Partners LLC acquired a new stake in Ecolab during the 2nd quarter worth $27,000. LRI Investments LLC acquired a new stake in Ecolab during the 1st quarter worth $31,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Ecolab during the 2nd quarter valued at $33,000. 74.91% of the stock is currently owned by institutional investors and hedge funds.

Ecolab Stock Performance

Shares of Ecolab stock opened at $261.46 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.50 and a quick ratio of 1.10. The firm has a market cap of $74.67 billion, a price-to-earnings ratio of 48.42, a price-to-earnings-growth ratio of 2.58 and a beta of 1.13. The stock’s 50-day moving average is $250.32 and its 200-day moving average is $239.91. Ecolab Inc. has a one year low of $156.72 and a one year high of $262.61.

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

Ecolab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were paid a $0.57 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $2.28 dividend on an annualized basis and a yield of 0.87%. Ecolab’s dividend payout ratio is 42.22%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Jefferies Financial Group upgraded Ecolab from a “hold” rating to a “buy” rating and raised their price target for the stock from $235.00 to $310.00 in a research report on Friday. Robert W. Baird boosted their target price on Ecolab from $243.00 to $267.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Piper Sandler upped their price target on Ecolab from $270.00 to $305.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Stifel Nicolaus raised shares of Ecolab from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $233.00 to $283.00 in a research note on Monday, July 8th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Ecolab in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $271.80.

Insiders Place Their Bets

In other news, Director Victoria Reich sold 393 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $250.00, for a total value of $98,250.00. Following the completion of the sale, the director now owns 24,041 shares of the company’s stock, valued at approximately $6,010,250. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Victoria Reich sold 393 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $250.00, for a total value 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Maclennan purchased 650 shares of Ecolab stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $240.41 per share, with a total value of $156,266.50. Following the acquisition, the director now directly owns 17,967 shares of the company’s stock, valued at $4,319,446.47. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

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.