Envestnet Asset Management Inc. has reduced its stake in Ecolab Inc. (NYSE:ECL) by 1.2% during the second quarter of 2023. According to the latest Form 13F filing with the Securities and Exchange Commission, Envestnet now holds 1,246,186 shares of Ecolab after divesting 14,627 shares. The value of its holdings in the company is estimated at $335.77 million.
This adjustment follows a broader trend among institutional investors and hedge funds, which have also altered their positions in Ecolab. For instance, the Saudi Central Bank acquired a new stake valued at approximately $25,000 in the first quarter. Financial Connections Group Inc. similarly entered a new position in the second quarter, valued at around $26,000.
Significantly, J.Safra Asset Management Corp. increased its holdings in Ecolab by an impressive 202.6% during the same period, now owning 115 shares worth approximately $31,000. Ridgewood Investments LLC also boosted its stake by 70.6%, bringing its total to 145 shares valued at $37,000. Overall, institutional investors hold 74.91% of Ecolab’s stock.
Analyst Ratings and Market Performance
Ecolab has recently received several updates from analysts, reflecting varied sentiments about the stock. Erste Group Bank initiated coverage on October 14, 2023, issuing a “buy” rating. Meanwhile, UBS Group raised its target price for Ecolab from $295.00 to $299.00 with a “neutral” rating.
Baird R W upgraded the company from a “hold” to a “strong-buy” rating, while Raymond James Financial assigned a “market perform” rating. Robert W. Baird also adjusted its price target, increasing it from $300.00 to $306.00 and marking the stock as “outperform.” Currently, three analysts rate Ecolab as a Strong Buy, twelve as Buy, and five as Hold, with an average target price of $290.92.
Ecolab’s stock opened at $277.35 on Monday, reflecting a 0.8% increase. The company’s fifty-day moving average stands at $274.37, while the two-hundred day average is at $265.44. Ecolab’s market capitalization is estimated at $78.66 billion, with a price-to-earnings ratio of 37.03.
Recent Earnings and Dividend Announcement
Ecolab reported its most recent earnings on July 29, 2023, posting an earnings per share (EPS) of $1.89, slightly below analysts’ expectations of $1.90. The company’s revenue for the quarter reached $4.03 billion, aligning with forecasts. Ecolab also achieved a return on equity of 22.52% and a net margin of 13.59%.
For the upcoming third quarter of 2025, Ecolab has set its EPS guidance between $2.020 and $2.120. The full-year 2025 guidance is projected at $7.420 to $7.620 EPS. Analysts expect the company to report an EPS of $7.54 for the current fiscal year.
In addition, Ecolab recently declared a quarterly dividend of $0.65, which was paid on October 15, 2023. Shareholders on record as of September 16, 2023, received this dividend, representing an annualized figure of $2.60 and a yield of 0.9%. The company’s dividend payout ratio currently stands at 34.71%.
Insider Transactions and Company Overview
In related news, Ecolab director Suzanne M. Vautrinot sold 1,354 shares on August 19, 2023, at an average price of $283.16, totaling approximately $383,398.64. Following this transaction, Vautrinot’s remaining shares amount to 11,199, valued at $3,171,108.84.
Additionally, Senior Vice President Jennifer J. Bradway sold 807 shares on August 13, 2023, at an average price of $279.28, for a total of around $225,378.96. Corporate insiders currently own 0.50% of Ecolab’s stock.
Ecolab Inc. specializes in providing water, hygiene, and infection prevention solutions, operating through three segments: Global Industrial, Global Institutional & Specialty, and Global Healthcare & Life Sciences. Its diverse offerings serve various industries, including manufacturing, food and beverage processing, and healthcare.
For more detailed insights on Ecolab and its market performance, stakeholders can refer to the latest filings and reports available from credible financial news sources.
