Envestnet Asset Management Inc. Purchases 30,144 Shares of Ecolab Inc. $ECL

Envestnet Asset Management Inc. boosted its position in Ecolab Inc. (NYSE:ECL) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,276,330 shares of the basic materials company’s stock after purchasing an additional 30,144 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ecolab were worth $349,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in Ecolab during the second quarter worth about $847,544,000. Vontobel Holding Ltd. boosted its position in shares of Ecolab by 119.7% during the 2nd quarter. Vontobel Holding Ltd. now owns 2,036,339 shares of the basic materials company’s stock valued at $548,671,000 after acquiring an additional 1,109,585 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Ecolab by 115.6% during the second quarter. AQR Capital Management LLC now owns 727,370 shares of the basic materials company’s stock worth $193,753,000 after purchasing an additional 389,981 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position 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 worth $240,676,000 after purchasing an additional 344,541 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in 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. 74.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ecolab

In other Ecolab news, CEO Christophe Beck sold 21,714 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $261.41, for a total value of $5,676,256.74. Following the transaction, the chief executive officer owned 72,644 shares in the company, valued at approximately $18,989,868.04. The trade was a 23.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Boo Alexander A. De sold 1,422 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $268.25, for a total transaction of $381,451.50. Following the transaction, the executive vice president directly owned 5,726 shares of the company’s stock, valued at approximately $1,535,999.50. This trade represents a 19.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.04% of the company’s stock.

Ecolab Stock Up 2.0%

ECL opened at $288.10 on Thursday. Ecolab Inc. has a 12 month low of $221.62 and a 12 month high of $289.31. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.83. The business’s 50-day moving average price is $270.27 and its 200-day moving average price is $270.31. The company has a market cap of $81.60 billion, a P/E ratio of 41.39, a P/E/G ratio of 2.44 and a beta of 0.99.

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 given a $0.73 dividend. The ex-dividend date was Tuesday, December 16th. This is an increase from Ecolab’s previous quarterly dividend of $0.65. This represents a $2.92 annualized dividend and a yield of 1.0%. Ecolab’s dividend payout ratio is presently 41.95%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Ecolab from $270.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. UBS Group increased their target price on Ecolab from $291.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Robert W. Baird set a $307.00 price target on Ecolab in a research note on Wednesday, October 29th. Stifel Nicolaus cut their price objective on Ecolab from $303.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Finally, Evercore ISI raised Ecolab from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $265.00 to $300.00 in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $297.33.

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.