Rockland Trust Co. Boosts Stock Position in Ecolab Inc. $ECL

Rockland Trust Co. boosted its position in Ecolab Inc. (NYSE:ECL) by 5.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,987 shares of the basic materials company’s stock after purchasing an additional 2,610 shares during the quarter. Rockland Trust Co.’s holdings in Ecolab were worth $15,059,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Ecolab during the second quarter valued at approximately $847,544,000. AQR Capital Management LLC lifted its holdings in shares of Ecolab by 115.6% during the 2nd quarter. AQR Capital Management LLC now owns 727,370 shares of the basic materials company’s stock valued at $193,753,000 after purchasing an additional 389,981 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Ecolab by 64.5% in the 3rd 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 in the last quarter. Vanguard Group Inc. grew its stake in Ecolab by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 24,662,213 shares of the basic materials company’s stock worth $6,644,987,000 after buying an additional 250,980 shares during the last quarter. Finally, KBC Group NV increased its position in Ecolab by 49.7% during the 2nd quarter. KBC Group NV now owns 741,253 shares of the basic materials company’s stock valued at $199,723,000 after buying an additional 246,237 shares in the last quarter. 74.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. 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. Barclays increased their price objective on shares of Ecolab from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Wells Fargo & Company boosted their target price on shares of Ecolab from $270.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. Erste Group Bank lowered shares of Ecolab from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ecolab from $250.00 to $265.00 and gave the stock 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 assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $297.33.

Ecolab Stock Down 0.8%

ECL stock opened at $288.11 on Tuesday. The company has a market capitalization of $81.60 billion, a P/E ratio of 41.40, a price-to-earnings-growth ratio of 2.51 and a beta of 0.99. Ecolab Inc. has a 12 month low of $221.62 and a 12 month high of $291.08. The firm’s fifty day simple moving average is $271.13 and its 200-day simple moving average is $270.72. 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 disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Tuesday, December 16th were paid 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 an increase from Ecolab’s previous quarterly dividend of $0.65. Ecolab’s dividend payout ratio (DPR) is 41.95%.

Insider Activity

In related news, Director David Maclennan bought 750 shares of the stock in a transaction dated Monday, December 8th. The shares were purchased at an average price of $257.60 per share, for a total transaction of $193,200.00. Following the completion of the purchase, the director directly owned 23,035 shares of the company’s stock, valued at $5,933,816. This represents a 3.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Boo Alexander A. De sold 1,422 shares of Ecolab stock in a transaction that occurred 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 transaction, the executive vice president owned 5,726 shares of the company’s stock, valued at approximately $1,535,999.50. This represents a 19.89% 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.

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.