Ecolab Inc. (NYSE:ECL) Holdings Increased by Miracle Mile Advisors LLC

Posted by on Mar 31st, 2023

Miracle Mile Advisors LLC increased its stake in Ecolab Inc. (NYSE:ECL – Get Rating) by 19.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,164 shares of the basic materials company’s stock after acquiring an additional 846 shares during the period. Miracle Mile Advisors LLC’s holdings in Ecolab were worth $752,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital International Investors acquired a new stake in shares of Ecolab in the first quarter valued at $304,475,000. Renaissance Technologies LLC lifted its holdings in Ecolab by 429.2% in the 1st quarter. Renaissance Technologies LLC now owns 904,997 shares of the basic materials company’s stock valued at $159,786,000 after acquiring an additional 734,000 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Ecolab by 180.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 604,889 shares of the basic materials company’s stock worth $87,361,000 after purchasing an additional 389,400 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Ecolab by 596.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 375,188 shares of the basic materials company’s stock worth $66,243,000 after purchasing an additional 321,342 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Ecolab by 161.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 479,119 shares of the basic materials company’s stock worth $69,194,000 after purchasing an additional 296,073 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Ecolab Stock Up 0.6 %

Shares of Ecolab stock opened at $163.28 on Friday. The stock has a 50-day moving average price of $157.02 and a 200 day moving average price of $151.60. The company has a market cap of $46.48 billion, a P/E ratio of 42.74, a P/E/G ratio of 2.55 and a beta of 0.98. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 1.11. Ecolab Inc. has a 1 year low of $131.04 and a 1 year high of $185.50.

Ecolab (NYSE:ECL – Get Rating) last posted its quarterly earnings results on Tuesday, February 14th. The basic materials company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. Ecolab had a return on equity of 18.02% and a net margin of 7.69%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the business earned $1.28 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, analysts expect that Ecolab Inc. will post 4.96 EPS for the current fiscal year.

Ecolab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Tuesday, March 21st will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Monday, March 20th. Ecolab’s dividend payout ratio (DPR) is presently 55.50%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ECL shares. Royal Bank of Canada raised Ecolab from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $155.00 to $185.00 in a report on Wednesday, February 15th. Stifel Nicolaus upped their target price on Ecolab from $164.00 to $172.00 and gave the company a “hold” rating in a report on Wednesday, March 22nd. Mizuho upped their target price on Ecolab from $158.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 12th. StockNews.com started coverage on Ecolab in a report on Thursday, March 16th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. upped their target price on Ecolab from $175.00 to $180.00 in a report on Friday, December 9th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.63.

Insider Transactions at Ecolab

In other news, EVP Larry L. Berger sold 4,404 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $162.95, for a total transaction of $717,631.80. Following the completion of the sale, the executive vice president now directly owns 12,442 shares of the company’s stock, valued at approximately $2,027,423.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.04% of the company’s stock.

Ecolab Company Profile

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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.

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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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