Ecolab Inc. $ECL Shares Purchased by McKinley Carter Wealth Services Inc.

McKinley Carter Wealth Services Inc. grew its stake in shares of Ecolab Inc. (NYSE:ECL) by 162.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,364 shares of the basic materials company’s stock after purchasing an additional 3,320 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Ecolab were worth $1,469,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Ecolab in the second quarter valued at approximately $847,544,000. Vontobel Holding Ltd. boosted its stake in shares of Ecolab by 119.7% in the second quarter. Vontobel Holding Ltd. now owns 2,036,339 shares of the basic materials company’s stock valued at $548,671,000 after purchasing an additional 1,109,585 shares during the period. AQR Capital Management LLC grew its holdings in Ecolab by 115.6% during the 2nd quarter. AQR Capital Management LLC now owns 727,370 shares of the basic materials company’s stock valued at $193,753,000 after purchasing an additional 389,981 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Ecolab by 64.5% during the 3rd 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 period. Finally, Vanguard Group Inc. lifted its holdings 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 worth $6,644,987,000 after buying an additional 250,980 shares in the last quarter. Hedge funds and other institutional investors own 74.91% of the company’s stock.

Insiders Place Their Bets

In related news, Director David Maclennan bought 750 shares of the company’s stock in a transaction on Monday, December 8th. The shares were purchased 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 directly owned 23,035 shares of the company’s stock, valued at approximately $5,933,816. This represents a 3.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Boo Alexander A. De sold 1,422 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $268.25, for a total transaction of $381,451.50. Following the transaction, the executive vice president directly owned 5,726 shares of the company’s stock, valued at approximately $1,535,999.50. This trade represents a 19.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.04% of the stock is owned by corporate insiders.

Ecolab Stock Down 0.3%

ECL stock opened at $282.03 on Friday. The firm has a market cap of $79.88 billion, a price-to-earnings ratio of 40.52, a PEG ratio of 2.45 and a beta of 0.99. Ecolab Inc. has a 1-year low of $221.62 and a 1-year high of $286.04. The firm has a fifty day moving average price of $269.53 and a two-hundred day moving average price of $269.96. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Tuesday, December 16th were paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Tuesday, December 16th. This is an increase from Ecolab’s previous quarterly dividend of $0.65. Ecolab’s dividend payout ratio (DPR) is currently 41.95%.

Analysts Set New Price Targets

Several analysts have recently weighed in on ECL shares. Wells Fargo & Company raised their target price on Ecolab from $270.00 to $275.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. Barclays raised their price objective on Ecolab from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Evercore ISI raised Ecolab from an “in-line” rating to an “outperform” rating and upped their target price for the company from $265.00 to $300.00 in a research report on Monday, November 3rd. UBS Group raised their price target on shares of Ecolab from $291.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Finally, Robert W. Baird set a $307.00 price target on shares of Ecolab in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Ecolab has a consensus rating of “Moderate Buy” and a consensus target price of $297.33.

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.