Vontobel Holding Ltd. cut its stake in shares of Ecolab Inc. (NYSE:ECL – Free Report) by 15.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,718,411 shares of the basic materials company’s stock after selling 317,928 shares during the quarter. Ecolab comprises about 1.4% of Vontobel Holding Ltd.’s investment portfolio, making the stock its 21st largest position. Vontobel Holding Ltd. owned approximately 0.61% of Ecolab worth $470,604,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Ecolab during the 2nd quarter worth approximately $847,544,000. AQR Capital Management LLC grew its stake in Ecolab by 115.6% in 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 acquiring an additional 389,981 shares during the last quarter. Voya Investment Management LLC increased its holdings in Ecolab by 43.2% during the 1st quarter. Voya Investment Management LLC now owns 834,058 shares of the basic materials company’s stock valued at $211,450,000 after acquiring an additional 251,730 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ecolab by 1.0% in the second quarter. Vanguard Group Inc. now owns 24,662,213 shares of the basic materials company’s stock valued at $6,644,987,000 after purchasing an additional 250,980 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Ecolab by 49.7% in the second quarter. KBC Group NV now owns 741,253 shares of the basic materials company’s stock valued at $199,723,000 after purchasing an additional 246,237 shares in the last quarter. Institutional investors and hedge funds own 74.91% of the company’s stock.
Ecolab Stock Performance
NYSE ECL opened at $264.68 on Wednesday. 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 Inc. has a 1-year low of $221.62 and a 1-year high of $286.04. The firm has a market capitalization of $74.97 billion, a P/E ratio of 38.03, a P/E/G ratio of 2.52 and a beta of 0.98. The business’s 50-day simple moving average is $264.92 and its 200-day simple moving average is $268.86.
Ecolab Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Tuesday, December 16th will be given a dividend of $0.73 per share. This is a positive change from Ecolab’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $2.92 dividend on an annualized basis and a yield of 1.1%. Ecolab’s dividend payout ratio is currently 41.95%.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. Stifel Nicolaus lowered their target price on Ecolab from $303.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Robert W. Baird set a $307.00 price target on shares of Ecolab in a report on Wednesday, October 29th. Mizuho set a $315.00 target price on shares of Ecolab in a research report on Wednesday, October 29th. Erste Group Bank initiated coverage on Ecolab in a report on Tuesday, October 14th. They issued a “buy” rating for the company. Finally, Raymond James Financial initiated coverage on Ecolab in a report on Tuesday, August 26th. They set a “market perform” rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $294.57.
Check Out Our Latest Analysis on ECL
Insider Activity at Ecolab
In related news, EVP Boo Alexander A. De sold 1,422 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $268.25, for a total transaction of $381,451.50. Following the sale, the executive vice president directly owned 5,726 shares in the company, valued at approximately $1,535,999.50. This trade represents a 19.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David Maclennan purchased 750 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was bought at an average price of $257.60 per share, with a total value of $193,200.00. Following the acquisition, the director owned 23,035 shares in the company, valued at $5,933,816. This trade represents a 3.37% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.50% of the stock is owned by insiders.
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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