AGF Management Ltd. Cuts Stake in Ecolab Inc. $ECL

AGF Management Ltd. trimmed its stake in Ecolab Inc. (NYSE:ECL) by 16.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 67,811 shares of the basic materials company’s stock after selling 13,473 shares during the quarter. AGF Management Ltd.’s holdings in Ecolab were worth $18,571,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC raised its position in Ecolab by 164.7% in the fourth quarter. Brighton Jones LLC now owns 3,700 shares of the basic materials company’s stock valued at $867,000 after purchasing an additional 2,302 shares during the period. Sivia Capital Partners LLC raised its holdings in shares of Ecolab by 39.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,384 shares of the basic materials company’s stock valued at $373,000 after buying an additional 394 shares during the period. Ameritas Advisory Services LLC acquired a new position in Ecolab during the 2nd quarter worth approximately $121,000. Ascent Group LLC boosted its holdings in Ecolab by 5.9% in the 2nd quarter. Ascent Group LLC now owns 6,116 shares of the basic materials company’s stock worth $1,648,000 after acquiring an additional 339 shares during the period. Finally, Wealthcare Advisory Partners LLC grew its position in Ecolab by 6.4% in the second quarter. Wealthcare Advisory Partners LLC now owns 1,774 shares of the basic materials company’s stock valued at $478,000 after acquiring an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 74.91% of the company’s stock.

Ecolab Stock Up 0.6%

ECL stock opened at $283.82 on Tuesday. The firm has a market cap of $80.39 billion, a price-to-earnings ratio of 40.78, a PEG ratio of 2.44 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 $269.83 and a two-hundred day moving average price of $270.08. 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 declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Tuesday, December 16th were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Tuesday, December 16th. This is a positive change from Ecolab’s previous quarterly dividend of $0.65. Ecolab’s payout ratio is currently 41.95%.

Wall Street Analyst Weigh In

Several research firms recently commented on ECL. Robert W. Baird set a $307.00 price target on Ecolab in a research note on Wednesday, October 29th. UBS Group upped their target price on Ecolab from $291.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Ecolab in a research report on Wednesday, October 8th. Stifel Nicolaus dropped their price target on shares of Ecolab from $303.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ecolab from $250.00 to $265.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. One equities 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $297.33.

Insider Buying and Selling

In related news, Director David Maclennan acquired 750 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was purchased at an average cost of $257.60 per share, for a total transaction of $193,200.00. Following the purchase, the director directly owned 23,035 shares in the company, valued at $5,933,816. This represents a 3.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Boo Alexander A. De sold 1,422 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $268.25, for a total value of $381,451.50. Following the completion of the sale, the executive vice president owned 5,726 shares in the company, valued at $1,535,999.50. The trade was a 19.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.04% of the company’s stock.

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.