Oppenheimer Asset Management Inc. Cuts Stake in Ecolab Inc. $ECL

Oppenheimer Asset Management Inc. lessened its holdings in shares of Ecolab Inc. (NYSE:ECL) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,523 shares of the basic materials company’s stock after selling 2,657 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ecolab were worth $20,135,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its holdings in shares of 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 purchasing an additional 344,541 shares during the last quarter. Adams Diversified Equity Fund Inc. raised its stake in shares of Ecolab by 25.8% during the 3rd quarter. Adams Diversified Equity Fund Inc. now owns 72,200 shares of the basic materials company’s stock valued at $19,773,000 after buying an additional 14,800 shares during the last quarter. McKinley Carter Wealth Services Inc. lifted its holdings in shares of Ecolab by 162.4% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 5,364 shares of the basic materials company’s stock valued at $1,469,000 after buying an additional 3,320 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Ecolab by 20.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,656 shares of the basic materials company’s stock worth $18,254,000 after buying an additional 11,322 shares during the last quarter. Finally, National Pension Service grew its holdings in Ecolab by 1.7% during the third quarter. National Pension Service now owns 597,913 shares of the basic materials company’s stock worth $163,744,000 after acquiring an additional 9,837 shares during the period. Institutional investors and hedge funds own 74.91% of the company’s stock.

Ecolab Price Performance

Ecolab stock opened at $290.63 on Monday. The company has a fifty day simple moving average of $270.82 and a 200-day simple moving average of $270.59. The firm has a market capitalization of $82.32 billion, a price-to-earnings ratio of 41.76, a PEG ratio of 2.51 and a beta of 0.99. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.83. Ecolab Inc. has a 52-week low of $221.62 and a 52-week high of $291.08.

Ecolab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Tuesday, December 16th were issued a $0.73 dividend. 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 a positive change from Ecolab’s previous quarterly dividend of $0.65. Ecolab’s payout ratio is currently 41.95%.

Insiders Place Their Bets

In other news, EVP Boo Alexander A. De sold 1,422 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was 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 in the company, valued at $1,535,999.50. The trade was a 19.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Maclennan purchased 750 shares of the business’s stock in a transaction that occurred on 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 acquisition, the director owned 23,035 shares of the company’s stock, valued at approximately $5,933,816. The trade was 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.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ECL. Erste Group Bank downgraded Ecolab from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. lifted their target price 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 shares of Ecolab in a report on Wednesday, October 29th. Evercore raised shares of Ecolab from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $265.00 to $300.00 in a report on Monday, November 3rd. Finally, BMO Capital Markets set a $307.00 target price on shares of Ecolab and gave the stock an “outperform” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ecolab has an average rating of “Moderate Buy” and an average 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.