Danske Bank A S bought a new position in Ecolab Inc. (NYSE:ECL – Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 231,730 shares of the basic materials company’s stock, valued at approximately $63,462,000. Danske Bank A S owned 0.08% of Ecolab as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Robeco Institutional Asset Management B.V. increased its position 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 acquiring an additional 344,541 shares during the period. Adams Diversified Equity Fund Inc. boosted its holdings in shares of Ecolab by 25.8% in the third quarter. Adams Diversified Equity Fund Inc. now owns 72,200 shares of the basic materials company’s stock valued at $19,773,000 after purchasing an additional 14,800 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 valued at $18,254,000 after purchasing an additional 11,322 shares during the period. ABN Amro Investment Solutions grew its stake in Ecolab by 19.9% in the third quarter. ABN Amro Investment Solutions now owns 83,379 shares of the basic materials company’s stock worth $22,834,000 after purchasing an additional 13,840 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. increased its holdings in Ecolab by 162.4% during the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 5,364 shares of the basic materials company’s stock worth $1,469,000 after purchasing an additional 3,320 shares during the period. 74.91% of the stock is currently owned by institutional investors.
Ecolab Trading Down 3.9%
Shares of NYSE:ECL opened at $261.93 on Thursday. The company has a market capitalization of $73.86 billion, a PE ratio of 35.98, a P/E/G ratio of 2.25 and a beta of 0.97. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.75. Ecolab Inc. has a 12-month low of $221.62 and a 12-month high of $309.27. The business’s fifty day simple moving average is $287.20 and its 200-day simple moving average is $274.29.
Ecolab Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 17th will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, March 17th. Ecolab’s dividend payout ratio (DPR) is 40.11%.
Wall Street Analyst Weigh In
ECL has been the subject of a number of research analyst reports. Robert W. Baird set a $327.00 target price on Ecolab in a research report on Wednesday, February 11th. BMO Capital Markets raised their price target on Ecolab from $323.00 to $345.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Jefferies Financial Group lifted their price objective on Ecolab from $315.00 to $352.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Citigroup upped their price objective on shares of Ecolab from $324.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, Stifel Nicolaus increased their target price on shares of Ecolab from $300.00 to $337.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $322.24.
Insider Activity at Ecolab
In other Ecolab news, Director Tracy B. Mckibben sold 1,265 shares of Ecolab stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $308.66, for a total value of $390,454.90. Following the transaction, the director directly owned 11,358 shares of the company’s stock, valued at approximately $3,505,760.28. The trade was a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christophe Beck sold 20,000 shares of the company’s stock in a transaction on 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 directly owned 90,794 shares in the company, valued at approximately $27,907,351.78. The trade was a 18.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.04% of the stock is owned by company insiders.
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.
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