Sun Sep 15 16:08:53 UTC 2024: ## Federated Hermes Reduces Ecolab Stake, While Other Investors Buy In
**New York, NY** – Federated Hermes Inc. trimmed its position in Ecolab Inc. (NYSE:ECL) by 4.3% in the second quarter, according to its recent SEC filing. The fund sold 6,887 shares, leaving it with 154,207 shares worth $36.7 million. This comes as several other large investors increased their stakes in the basic materials company.
Pine Haven Investment Counsel Inc. boosted its holding in Ecolab by 1.6% in the second quarter, now owning 2,840 shares valued at $676,000. Capital Advisors Ltd. LLC saw a more significant increase, lifting its stake by 42.1% to 152 shares worth $36,000. Other notable investors included Miracle Mile Advisors LLC and TIAA Trust National Association, both adding slightly to their positions in the first and second quarters, respectively.
Ecolab’s stock opened at $250.54 on Friday, with a market cap of $71.55 billion. The company has a strong financial position, boasting a quick ratio of 1.10, a current ratio of 1.50, and a debt-to-equity ratio of 0.91.
Ecolab recently declared a quarterly dividend of $0.57 per share, payable on October 15th. The dividend yield is 0.91%, representing a $2.28 annualized dividend.
Several analysts have weighed in on Ecolab’s stock performance. JPMorgan Chase & Co. maintained a “neutral” rating but upped its price target to $228.00. Stifel Nicolaus upgraded the stock from “hold” to “buy” and increased its price target to $283.00. Other analysts, including Citigroup, Royal Bank of Canada, and Bank of America, also expressed positive sentiments toward Ecolab.
Despite Federated Hermes’ reduction, the overall investor sentiment towards Ecolab remains strong, with institutional investors and hedge funds holding 74.91% of the company’s stock. MarketBeat’s analysis currently rates Ecolab as a “Moderate Buy” with a consensus price target of $254.67.
First Piper 