MV Capital Management Inc. bought a new position in Ecolab Inc. (NYSE:ECL – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 15,240 shares of the basic materials company’s stock, valued at approximately $4,001,000.
Other hedge funds have also modified their holdings of the company. Wexford Capital LP purchased a new stake in Ecolab during the third quarter valued at about $25,000. JPL Wealth Management LLC purchased a new position in shares of Ecolab in the third quarter worth approximately $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Ecolab during the fourth quarter valued at approximately $27,000. Meeder Asset Management Inc. purchased a new stake in shares of Ecolab in the 4th quarter valued at approximately $29,000. Finally, FSA Wealth Management LLC lifted its position in shares of Ecolab by 88.7% in the 3rd quarter. FSA Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 55 shares in the last quarter. 74.91% of the stock is owned by hedge funds and other institutional investors.
Ecolab Stock Up 0.2%
ECL stock opened at $269.71 on Friday. Ecolab Inc. has a 12-month low of $243.15 and a 12-month high of $309.27. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The company has a market cap of $75.91 billion, a price-to-earnings ratio of 36.50, a PEG ratio of 2.23 and a beta of 0.90. The company has a 50 day moving average of $261.47 and a two-hundred day moving average of $271.17.
Ecolab Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.73 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.1%. Ecolab’s dividend payout ratio (DPR) is 39.51%.
Insider Activity at Ecolab
In other news, Director Suzanne M. Vautrinot sold 1,004 shares of Ecolab stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $264.98, for a total transaction of $266,039.92. Following the completion of the sale, the director directly owned 11,651 shares in the company, valued at $3,087,281.98. The trade was a 7.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Maclennan purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average cost of $250.65 per share, with a total value of $250,650.00. Following the purchase, the director owned 25,230 shares in the company, valued at $6,323,899.50. This represents a 4.13% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 10,550 shares of company stock worth $2,719,508. 0.50% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
ECL has been the topic of several research analyst reports. Weiss Ratings cut shares of Ecolab from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 20th. Citigroup decreased their target price on Ecolab from $330.00 to $325.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. JPMorgan Chase & Co. upgraded Ecolab from a “neutral” rating to an “overweight” rating and set a $295.00 price target on the stock in a report on Tuesday, March 24th. Deutsche Bank Aktiengesellschaft raised Ecolab from a “hold” rating to a “buy” rating and set a $325.00 price target on the stock in a research report on Monday, April 20th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $337.00 price objective on shares of Ecolab in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $323.41.
View Our Latest Research Report on Ecolab
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.
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