Mirae Asset Global Investments Co. Ltd. Has $18.25 Million Stock Holdings in Ecolab Inc. $ECL

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Ecolab Inc. (NYSE:ECL) by 20.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,656 shares of the basic materials company’s stock after buying an additional 11,322 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ecolab were worth $18,254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Ecolab in the 2nd quarter worth approximately $847,544,000. Vontobel Holding Ltd. raised its stake in Ecolab by 119.7% during the 2nd quarter. Vontobel Holding Ltd. now owns 2,036,339 shares of the basic materials company’s stock worth $548,671,000 after buying an additional 1,109,585 shares during the period. AQR Capital Management LLC raised its position in shares of Ecolab by 115.6% during the second quarter. AQR Capital Management LLC now owns 727,370 shares of the basic materials company’s stock worth $193,753,000 after purchasing an additional 389,981 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Ecolab by 64.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 878,829 shares of the basic materials company’s stock worth $240,676,000 after buying an additional 344,541 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Ecolab by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 24,662,213 shares of the basic materials company’s stock valued at $6,644,987,000 after acquiring an additional 250,980 shares in the last quarter. 74.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their price objective on Ecolab from $270.00 to $275.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. Mizuho set a $315.00 price objective on Ecolab in a research note on Wednesday, October 29th. JPMorgan Chase & Co. upped their price objective on shares of Ecolab from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Robert W. Baird set a $307.00 price target on Ecolab in a report on Wednesday, October 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Ecolab in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $297.33.

Ecolab Stock Performance

NYSE:ECL opened at $282.03 on Friday. Ecolab Inc. has a 1-year low of $221.62 and a 1-year high of $286.04. The company has a market capitalization of $79.88 billion, a price-to-earnings ratio of 40.52, a PEG ratio of 2.45 and a beta of 0.99. The business has a 50 day moving average of $269.53 and a 200 day moving average of $269.93. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.70 and a quick ratio of 1.33.

Ecolab (NYSE:ECL) last issued its earnings results on Tuesday, October 28th. The basic materials company reported $2.07 EPS for the quarter, hitting analysts’ consensus estimates of $2.07. Ecolab had a net margin of 12.49% and a return on equity of 22.55%. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter last year, the company earned $2.57 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts predict that Ecolab Inc. will post 7.54 earnings per share for the current fiscal year.

Ecolab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Tuesday, December 16th were paid a $0.73 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This is a positive change from Ecolab’s previous quarterly dividend of $0.65. This represents a $2.92 annualized dividend and a dividend yield of 1.0%. Ecolab’s payout ratio is presently 41.95%.

Insider Buying and Selling at Ecolab

In related news, CEO Christophe Beck sold 21,714 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $261.41, for a total value of $5,676,256.74. Following the completion of the sale, the chief executive officer owned 72,644 shares of the company’s stock, valued at $18,989,868.04. This trade represents a 23.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Maclennan bought 750 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was bought at an average cost of $257.60 per share, with a total value of $193,200.00. Following the completion of the transaction, the director owned 23,035 shares in the company, valued at approximately $5,933,816. This trade represents a 3.37% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.04% of the company’s stock.

Ecolab Profile

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.