Bank of New York Mellon Corp boosted its stake in Ecolab Inc. (NYSE:ECL – Free Report) by 5.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,516,712 shares of the basic materials company’s stock after acquiring an additional 77,255 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ecolab were worth $398,167,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. lifted its holdings in Ecolab by 38.7% in the 4th quarter. QRG Capital Management Inc. now owns 22,362 shares of the basic materials company’s stock valued at $5,870,000 after purchasing an additional 6,238 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Ecolab by 25.9% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 330,698 shares of the basic materials company’s stock valued at $86,670,000 after purchasing an additional 68,062 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in Ecolab by 7.7% in the 3rd quarter. Cresset Asset Management LLC now owns 48,231 shares of the basic materials company’s stock valued at $13,240,000 after purchasing an additional 3,464 shares in the last quarter. ABN Amro Investment Solutions lifted its holdings in Ecolab by 19.9% in the 3rd quarter. ABN Amro Investment Solutions now owns 83,379 shares of the basic materials company’s stock valued at $22,834,000 after purchasing an additional 13,840 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co raised its holdings in shares of Ecolab by 40.2% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 45,495 shares of the basic materials company’s stock worth $12,459,000 after acquiring an additional 13,053 shares during the period. Institutional investors and hedge funds own 74.91% of the company’s stock.
Ecolab Trading Down 0.4%
Shares of ECL stock opened at $254.60 on Friday. The business’s fifty day moving average price is $261.47 and its 200 day moving average price is $271.32. Ecolab Inc. has a 1-year low of $243.15 and a 1-year high of $309.27. The firm has a market capitalization of $71.65 billion, a PE ratio of 34.45, a P/E/G ratio of 2.12 and a beta of 0.90. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.73.
Ecolab Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 16th will be issued a $0.73 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.92 annualized dividend and a yield of 1.1%. Ecolab’s dividend payout ratio is 39.51%.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Evercore reiterated an “outperform” rating and set a $312.00 price target on shares of Ecolab in a report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded Ecolab from a “hold” rating to a “buy” rating and set a $325.00 price target on the stock in a report on Monday, April 20th. Citigroup reduced their price target on Ecolab from $330.00 to $325.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Stifel Nicolaus boosted their price objective on shares of Ecolab from $300.00 to $337.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Finally, Morgan Stanley restated an “overweight” rating and issued a $330.00 price objective on shares of Ecolab in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $322.53.
Get Our Latest Report on Ecolab
Insider Buying and Selling at Ecolab
In other Ecolab news, Director Suzanne M. Vautrinot sold 1,004 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $264.98, for a total value of $266,039.92. Following the sale, the director owned 11,651 shares of the company’s stock, valued at approximately $3,087,281.98. This represents a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Maclennan acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average cost of $250.65 per share, for a total transaction of $250,650.00. Following the purchase, the director owned 25,230 shares of the company’s stock, valued at approximately $6,323,899.50. The trade was a 4.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.50% of the stock is currently owned by corporate insiders.
About Ecolab
Ecolab, Inc is a global provider of water, hygiene and infection prevention solutions and services. The company develops and supplies cleaning and sanitizing chemicals, dispensing equipment, water-treatment systems, pest elimination services and related technologies designed to help businesses maintain clean, safe and efficient operations. Its offerings span both products and onsite services, often paired with technical support and training.
Ecolab serves a broad range of end markets including hospitality and foodservice, food and beverage processing, healthcare, manufacturing and industrial operations, and energy and utilities.
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