Ecolab Inc. (NYSE:ECL) Shares Bought by Argent Trust Co

Argent Trust Co grew its holdings in shares of Ecolab Inc. (NYSE:ECL) by 59.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,512 shares of the basic materials company’s stock after acquiring an additional 2,424 shares during the period. Argent Trust Co’s holdings in Ecolab were worth $1,550,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Ecolab by 1.3% during the first quarter. Vanguard Group Inc. now owns 23,486,858 shares of the basic materials company’s stock valued at $5,423,116,000 after acquiring an additional 304,402 shares in the last quarter. Mirova US LLC grew its stake in Ecolab by 2.3% in the second quarter. Mirova US LLC now owns 1,975,415 shares of the basic materials company’s stock worth $470,149,000 after purchasing an additional 43,553 shares in the last quarter. Swedbank AB acquired a new position in Ecolab in the first quarter worth about $390,687,000. American Century Companies Inc. grew its stake in Ecolab by 1.8% in the second quarter. American Century Companies Inc. now owns 1,372,379 shares of the basic materials company’s stock worth $326,626,000 after purchasing an additional 24,648 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Ecolab by 5.9% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,128,977 shares of the basic materials company’s stock worth $223,933,000 after purchasing an additional 62,434 shares in the last quarter. 74.91% of the stock is currently owned by institutional investors and hedge funds.

Ecolab Stock Performance

ECL opened at $248.61 on Thursday. The business’s 50 day moving average is $244.09 and its 200-day moving average is $235.56. The stock has a market cap of $71.00 billion, a PE ratio of 46.04, a price-to-earnings-growth ratio of 2.52 and a beta of 1.13. The company has a current ratio of 1.50, a quick ratio of 1.10 and a debt-to-equity ratio of 0.91. Ecolab Inc. has a twelve month low of $156.72 and a twelve month high of $253.57.

Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.01. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Ecolab had a return on equity of 21.65% and a net margin of 10.95%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 earnings per share. On average, analysts predict that Ecolab Inc. will post 6.65 earnings per share for the current year.

Ecolab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.57 per share. The ex-dividend date is Tuesday, September 17th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.92%. Ecolab’s dividend payout ratio (DPR) is presently 42.22%.

Analyst Ratings Changes

A number of equities analysts recently commented on ECL shares. Citigroup upgraded Ecolab from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $267.00 to $265.00 in a research note on Wednesday, July 31st. UBS Group decreased their price target on Ecolab from $288.00 to $276.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Bank of America upgraded 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 research note on Wednesday, July 31st. Royal Bank of Canada lifted their price target on Ecolab from $260.00 to $306.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Robert W. Baird raised 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. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Ecolab has an average rating of “Moderate Buy” and an average target price of $257.73.

Insider Activity

In related news, Director Victoria Reich sold 393 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $6,010,250. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Gregory B. Cook sold 3,811 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $249.33, for a total transaction of $950,196.63. Following the sale, the executive vice president now owns 8,080 shares of the company’s stock, valued at $2,014,586.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Victoria Reich sold 393 shares of the business’s 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 sale, the director now directly owns 24,041 shares in the company, valued at approximately $6,010,250. The disclosure for this sale can be found here. Corporate insiders own 0.04% of the company’s stock.

Ecolab 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.