Mediolanum International Funds Ltd Boosts Stake in Ecolab Inc. $ECL

Mediolanum International Funds Ltd increased its holdings in shares of Ecolab Inc. (NYSE:ECL) by 14.0% in the third quarter, Holdings Channel reports. The firm owned 23,246 shares of the basic materials company’s stock after acquiring an additional 2,851 shares during the period. Mediolanum International Funds Ltd’s holdings in Ecolab were worth $6,344,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. boosted its stake in shares of Ecolab by 64.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 878,829 shares of the basic materials company’s stock valued at $240,676,000 after purchasing an additional 344,541 shares during the period. Adams Diversified Equity Fund Inc. boosted its position in Ecolab by 25.8% in the 3rd quarter. Adams Diversified Equity Fund Inc. now owns 72,200 shares of the basic materials company’s stock valued at $19,773,000 after buying an additional 14,800 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ecolab by 20.5% during 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 acquiring an additional 11,322 shares in the last quarter. McKinley Carter Wealth Services Inc. increased its position in shares of Ecolab by 162.4% during the third quarter. McKinley Carter Wealth Services Inc. now owns 5,364 shares of the basic materials company’s stock worth $1,469,000 after acquiring an additional 3,320 shares during the last quarter. Finally, National Pension Service lifted its stake in shares of Ecolab by 1.7% in the third quarter. National Pension Service now owns 597,913 shares of the basic materials company’s stock worth $163,744,000 after acquiring an additional 9,837 shares in the last quarter. 74.91% of the stock is owned by hedge funds and other institutional investors.

Ecolab Stock Performance

Shares of NYSE ECL opened at $283.82 on Tuesday. 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 one year low of $221.62 and a one year high of $286.04. The business’s 50-day moving average price is $269.83 and its two-hundred day moving average price is $270.08. The company has a market capitalization of $80.39 billion, a P/E ratio of 40.78, a price-to-earnings-growth ratio of 2.44 and a beta of 0.99.

Ecolab Increases Dividend

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

Insider Transactions at Ecolab

In other Ecolab news, Director David Maclennan purchased 750 shares of the firm’s stock in a transaction on 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 approximately $5,933,816. This represents a 3.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christophe Beck sold 21,714 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $261.41, for a total value of $5,676,256.74. Following the completion of the transaction, the chief executive officer directly owned 72,644 shares of the company’s stock, valued at approximately $18,989,868.04. The trade was a 23.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ECL shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Ecolab in a research note on Wednesday, October 8th. Robert W. Baird set a $307.00 price objective on shares of Ecolab in a research report on Wednesday, October 29th. Barclays increased their price objective on shares of Ecolab from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Mizuho set a $315.00 price objective on Ecolab in a research report on Wednesday, October 29th. Finally, Citigroup boosted their price target on shares of Ecolab from $315.00 to $324.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $297.33.

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.