OLD National Bancorp IN Sells 414 Shares of Ecolab Inc. (NYSE:ECL)

Posted by on Apr 24th, 2023

OLD National Bancorp IN lessened its stake in Ecolab Inc. (NYSE:ECL – Get Rating) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,427 shares of the basic materials company’s stock after selling 414 shares during the period. OLD National Bancorp IN’s holdings in Ecolab were worth $1,226,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Ronald Blue Trust Inc. raised its position in Ecolab by 135.6% in the 4th quarter. Ronald Blue Trust Inc. now owns 245 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 141 shares during the last quarter. Beacon Capital Management LLC raised its position in shares of Ecolab by 1,189.5% during the 4th quarter. Beacon Capital Management LLC now owns 245 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 226 shares during the last quarter. Almanack Investment Partners LLC. bought a new stake in shares of Ecolab in the 3rd quarter valued at $36,000. Zions Bancorporation N.A. increased its position in shares of Ecolab by 39.8% in the 3rd quarter. Zions Bancorporation N.A. now owns 267 shares of the basic materials company’s stock valued at $39,000 after buying an additional 76 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Ecolab by 56.0% in the 1st quarter. Covestor Ltd now owns 298 shares of the basic materials company’s stock valued at $53,000 after buying an additional 107 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Insider Buying and Selling at Ecolab

In other news, EVP Larry L. Berger sold 4,404 shares of the firm’s stock in a transaction that occurred on 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 directly owns 12,442 shares of the company’s stock, valued at $2,027,423.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ECL shares. Barclays upped their target price on shares of Ecolab from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 15th. Stifel Nicolaus upped their target price on shares of Ecolab from $164.00 to $172.00 and gave the stock a “hold” rating in a research note on Wednesday, March 22nd. Mizuho upped their target price on shares of Ecolab from $158.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 12th. Bank of America lowered shares of Ecolab from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $170.00 to $162.00 in a research note on Monday, April 17th. Finally, Wells Fargo & Company upped their target price on shares of Ecolab from $168.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $169.80.

Ecolab Trading Up 0.8 %

Shares of NYSE:ECL opened at $165.60 on Monday. Ecolab Inc. has a 52-week low of $131.04 and a 52-week high of $179.86. The company has a market capitalization of $47.14 billion, a P/E ratio of 43.35, a price-to-earnings-growth ratio of 2.64 and a beta of 1.00. The company has a 50-day simple moving average of $161.18 and a 200 day simple moving average of $152.83. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.88 and a current ratio of 1.30.

Ecolab (NYSE:ECL – Get Rating) last released its quarterly earnings results on Tuesday, February 14th. The basic materials company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.02. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Ecolab had a net margin of 7.69% and a return on equity of 18.02%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. Sell-side analysts forecast that Ecolab Inc. will post 4.95 earnings per share for the current year.

Ecolab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Tuesday, March 21st were issued a $0.53 dividend. The ex-dividend date of this dividend was Monday, March 20th. This represents a $2.12 annualized dividend and a yield of 1.28%. Ecolab’s dividend payout ratio is currently 55.50%.

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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