State of Alaska Department of Revenue Boosts Stock Holdings in Ecolab Inc. (NYSE:ECL)

Posted by Defense World Staff on Mar 23rd, 2023

State of Alaska Department of Revenue boosted its stake in shares of Ecolab Inc. (NYSE:ECL – Get Rating) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,415 shares of the basic materials company’s stock after purchasing an additional 125 shares during the period. State of Alaska Department of Revenue’s holdings in Ecolab were worth $5,299,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Harrington Investments INC increased its position in shares of Ecolab by 10.5% in the fourth quarter. Harrington Investments INC now owns 8,445 shares of the basic materials company’s stock worth $1,229,000 after acquiring an additional 805 shares in the last quarter. Ayrshire Capital Management LLC lifted its position in shares of Ecolab by 2.3% in the 4th quarter. Ayrshire Capital Management LLC now owns 22,313 shares of the basic materials company’s stock worth $3,248,000 after buying an additional 507 shares during the last quarter. Cullinan Associates Inc. bought a new stake in Ecolab in the 4th quarter valued at about $261,000. Triangle Securities Wealth Management lifted its position in Ecolab by 4.5% in the 4th quarter. Triangle Securities Wealth Management now owns 4,762 shares of the basic materials company’s stock valued at $693,000 after purchasing an additional 205 shares during the last quarter. Finally, Coldstream Capital Management Inc. bought a new stake in Ecolab in the 4th quarter valued at about $353,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Ecolab Price Performance

NYSE ECL opened at $155.61 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $44.26 billion, a PE ratio of 40.74, a price-to-earnings-growth ratio of 2.47 and a beta of 0.98. The company has a 50 day moving average price of $156.04 and a two-hundred day moving average price of $151.80. Ecolab Inc. has a 12-month low of $131.04 and a 12-month high of $185.50.

Ecolab (NYSE:ECL – Get Rating) last posted its earnings results on Tuesday, February 14th. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. Ecolab had a net margin of 7.69% and a return on equity of 18.02%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the previous year, the company earned $1.28 earnings per share. The company’s revenue was up 9.1% compared to the same quarter last year. As a group, equities analysts predict that Ecolab Inc. will post 4.94 earnings per share for the current fiscal year.

Ecolab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Tuesday, March 21st will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.36%. The ex-dividend date is Monday, March 20th. Ecolab’s dividend payout ratio (DPR) is presently 55.50%.

Wall Street Analyst Weigh In

Several research firms have commented on ECL. Mizuho raised their target price on shares of Ecolab from $158.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, January 12th. Citigroup lifted their price objective on shares of Ecolab from $164.00 to $166.00 and gave the stock a “neutral” rating in a research note on Thursday, February 16th. Royal Bank of Canada raised shares of Ecolab from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $155.00 to $185.00 in a research report on Wednesday, February 15th. Wells Fargo & Company lifted their target price on shares of Ecolab from $168.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 15th. Finally, Stifel Nicolaus lifted their target price on shares of Ecolab from $164.00 to $172.00 and gave the stock a “hold” rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.63.

Insider Buying and Selling at Ecolab

In related news, EVP Larry L. Berger sold 4,404 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $162.95, for a total transaction of $717,631.80. Following the transaction, the executive vice president now owns 12,442 shares in the company, valued at approximately $2,027,423.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.04% of the company’s stock.

Ecolab Profile

(Get Rating)

Ecolab, Inc engages in the provision of products and services in the field of water, hygiene, and energy. It operates through the following segments: Global Industrial, Global Institutional & Specialty, Global Energy & Life Science, and Other. The Global Industrial segment consists of the water, food and beverage, paper, and downstream operating segments.