Ameriprise Financial Inc. decreased its position in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 12.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,010,036 shares of the basic materials company’s stock after selling 149,929 shares during the period. Ameriprise Financial Inc. owned approximately 0.36% of Ecolab worth $276,442,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Corundum Trust Company INC bought a new position in Ecolab during the 3rd quarter valued at about $28,000. SJS Investment Consulting Inc. boosted its position in shares of Ecolab by 1,177.8% during the third quarter. SJS Investment Consulting Inc. now owns 115 shares of the basic materials company’s stock valued at $31,000 after buying an additional 106 shares during the period. Vermillion & White Wealth Management Group LLC grew its stake in shares of Ecolab by 81.5% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 118 shares of the basic materials company’s stock valued at $32,000 after buying an additional 53 shares during the last quarter. Winnow Wealth LLC bought a new position in shares of Ecolab during the third quarter valued at approximately $33,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Ecolab in the third quarter worth approximately $47,000. Hedge funds and other institutional investors own 74.91% of the company’s stock.
Ecolab Price Performance
Shares of ECL opened at $273.29 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.81 and a current ratio of 1.08. The company has a 50 day moving average price of $287.31 and a 200-day moving average price of $274.41. Ecolab Inc. has a fifty-two week low of $221.62 and a fifty-two week high of $309.27. The stock has a market capitalization of $77.06 billion, a PE ratio of 37.54, a PEG ratio of 2.25 and a beta of 0.97.
Ecolab Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 17th will be issued a $0.73 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.1%. Ecolab’s dividend payout ratio (DPR) is currently 40.11%.
Insider Buying and Selling at Ecolab
In other Ecolab news, CEO Christophe Beck sold 20,000 shares of Ecolab stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $307.37, for a total value of $6,147,400.00. Following the transaction, the chief executive officer owned 90,794 shares in the company, valued at $27,907,351.78. The trade was a 18.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tracy B. Mckibben sold 1,265 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $308.66, for a total transaction of $390,454.90. Following the completion of the transaction, the director owned 11,358 shares of the company’s stock, valued at $3,505,760.28. This represents a 10.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.50% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on ECL. BNP Paribas Exane restated an “outperform” rating and set a $345.00 price objective (up from $330.00) on shares of Ecolab in a report on Thursday, February 12th. Robert W. Baird set a $327.00 target price on Ecolab in a research note on Wednesday, February 11th. Jefferies Financial Group boosted their target price on shares of Ecolab from $315.00 to $352.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Morgan Stanley restated an “overweight” rating and issued a $330.00 price target on shares of Ecolab in a report on Wednesday, February 11th. Finally, UBS Group raised their price target on shares of Ecolab from $295.00 to $312.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Ecolab presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.71.
View Our Latest Stock Analysis on ECL
Ecolab Company 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.
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