Bessemer Group Inc. Buys 2,183 Shares of Ecolab Inc. $ECL

Bessemer Group Inc. increased its stake in shares of Ecolab Inc. (NYSE:ECL) by 34.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,486 shares of the basic materials company’s stock after purchasing an additional 2,183 shares during the quarter. Bessemer Group Inc.’s holdings in Ecolab were worth $2,323,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Corundum Trust Company INC acquired a new stake in Ecolab in the third quarter valued at approximately $28,000. J.Safra Asset Management Corp lifted its holdings in shares of Ecolab by 202.6% during the 2nd quarter. J.Safra Asset Management Corp now owns 115 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 77 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in shares of Ecolab by 1,177.8% in the 3rd quarter. SJS Investment Consulting Inc. now owns 115 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 106 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its stake in Ecolab by 81.5% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 118 shares of the basic materials company’s stock worth $32,000 after buying an additional 53 shares during the last quarter. Finally, Winnow Wealth LLC acquired a new position in Ecolab during the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 74.91% of the company’s stock.

Ecolab Stock Up 1.2%

Shares of ECL opened at $290.63 on Monday. The company 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. Ecolab Inc. has a 52 week low of $221.62 and a 52 week high of $291.08. The stock’s 50-day moving average price is $270.82 and its 200-day moving average price is $270.59. 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 Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ECL shares. Evercore raised Ecolab from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $265.00 to $300.00 in a report on Monday, November 3rd. Citigroup lifted their target price on shares of Ecolab from $315.00 to $324.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Mizuho set a $315.00 price target on shares of Ecolab in a research note on Wednesday, October 29th. Stifel Nicolaus decreased their price target on shares of Ecolab from $303.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Finally, BMO Capital Markets set a $307.00 price objective on shares of Ecolab and gave the company an “outperform” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.33.

Insider Buying and Selling

In related news, CEO Christophe Beck sold 21,714 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $261.41, for a total transaction of $5,676,256.74. Following the sale, the chief executive officer owned 72,644 shares in the company, valued at approximately $18,989,868.04. This trade represents a 23.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Maclennan acquired 750 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was purchased at an average price of $257.60 per share, with a total value of $193,200.00. Following the transaction, the director owned 23,035 shares of the company’s stock, valued at approximately $5,933,816. This trade represents a 3.37% increase in their position. The SEC filing for this purchase provides additional information. 0.04% of the stock is currently owned by 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.