Wealthspire Advisors LLC Sells 3,077 Shares of Ecolab Inc. (NYSE:ECL)

Wealthspire Advisors LLC decreased its position in Ecolab Inc. (NYSE:ECL) by 69.7% during the second quarter, HoldingsChannel.com reports. The firm owned 1,340 shares of the basic materials company’s stock after selling 3,077 shares during the quarter. Wealthspire Advisors LLC’s holdings in Ecolab were worth $276,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Solstein Capital LLC purchased a new position in Ecolab in the 1st quarter worth about $28,000. Strategic Blueprint LLC purchased a new position in Ecolab in the 2nd quarter worth about $31,000. Concord Wealth Partners raised its position in Ecolab by 71.4% in the 1st quarter. Concord Wealth Partners now owns 156 shares of the basic materials company’s stock worth $33,000 after buying an additional 65 shares during the last quarter. Newfound Research LLC purchased a new position in Ecolab in the 2nd quarter worth about $41,000. Finally, Regency Capital Management Inc. DE purchased a new position in Ecolab in the 1st quarter worth about $43,000. Institutional investors own 72.29% of the company’s stock.

Shares of Ecolab stock opened at $213.27 on Thursday. The firm has a market cap of $61.01 billion, a P/E ratio of 58.59, a P/E/G ratio of 3.54 and a beta of 1.00. The company has a current ratio of 1.91, a quick ratio of 1.41 and a debt-to-equity ratio of 1.00. Ecolab Inc. has a 12 month low of $181.25 and a 12 month high of $231.25. The stock’s fifty day moving average price is $220.35 and its 200-day moving average price is $217.88.

Ecolab (NYSE:ECL) last announced its quarterly earnings results on Tuesday, July 27th. The basic materials company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.18 by $0.04. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.11 billion. Ecolab had a return on equity of 20.14% and a net margin of 8.66%. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 earnings per share. Analysts forecast that Ecolab Inc. will post 5.04 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Tuesday, September 14th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, September 13th. This represents a $1.92 annualized dividend and a dividend yield of 0.90%. Ecolab’s dividend payout ratio is currently 47.76%.

ECL has been the subject of several research reports. Royal Bank of Canada initiated coverage on shares of Ecolab in a research report on Thursday, September 2nd. They set an “outperform” rating and a $260.00 price target for the company. Boenning Scattergood reaffirmed an “outperform” rating on shares of Ecolab in a research report on Wednesday, September 15th. Vertical Research initiated coverage on shares of Ecolab in a research report on Monday, September 27th. They set a “hold” rating and a $189.00 price target for the company. Finally, Mizuho initiated coverage on shares of Ecolab in a report on Tuesday. They issued a “neutral” rating and a $126.00 target price for the company. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ecolab has an average rating of “Buy” and a consensus target price of $221.45.

In related news, SVP Scott D. Kirkland sold 2,800 shares of the firm’s stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $217.67, for a total transaction of $609,476.00. Following the sale, the senior vice president now owns 6,122 shares of the company’s stock, valued at $1,332,575.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael C. Mccormick sold 9,930 shares of the firm’s stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $220.00, for a total value of $2,184,600.00. Following the sale, the executive vice president now directly owns 63,641 shares in the company, valued at approximately $14,001,020. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 217,496 shares of company stock worth $48,541,441. Insiders own 1.05% of the company’s stock.

Ecolab Profile

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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