CIBC Private Wealth Group LLC grew its stake in Ecolab Inc. (NYSE:ECL) by 62.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 679,824 shares of the basic materials company’s stock after buying an additional 261,791 shares during the quarter. CIBC Private Wealth Group LLC owned 0.24% of Ecolab worth $100,171,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in ECL. Tributary Capital Management LLC acquired a new position in Ecolab during the fourth quarter worth $25,000. Ruggie Capital Group acquired a new position in Ecolab during the fourth quarter worth $30,000. Parkside Financial Bank & Trust raised its position in Ecolab by 50.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 214 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 72 shares in the last quarter. Financial Gravity Companies Inc. bought a new stake in Ecolab during the fourth quarter worth $37,000. Finally, Contravisory Investment Management Inc. bought a new stake in Ecolab during the fourth quarter worth $42,000. Institutional investors own 77.29% of the company’s stock.
Several research firms have issued reports on ECL. Zacks Investment Research lowered shares of Ecolab from a “hold” rating to a “sell” rating in a research report on Monday, December 17th. Bank of America began coverage on shares of Ecolab in a research report on Tuesday, October 23rd. They set a “buy” rating and a $123.00 price target on the stock. UBS Group lowered shares of Ecolab from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 21st. Barclays increased their price objective on shares of Ecolab from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, October 24th. Finally, Nomura dropped their price objective on shares of Ecolab from $153.00 to $150.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $159.36.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Tuesday, December 18th were paid a $0.46 dividend. The ex-dividend date was Monday, December 17th. This is an increase from Ecolab’s previous quarterly dividend of $0.41. This represents a $1.84 annualized dividend and a dividend yield of 1.16%. Ecolab’s dividend payout ratio is 39.23%.
In related news, Director Leslie S. Biller sold 2,811 shares of the company’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $160.40, for a total value of $450,884.40. Following the transaction, the director now directly owns 57,842 shares in the company, valued at $9,277,856.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.
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Ecolab Inc provides water, hygiene, and energy technologies and services for customers worldwide. The company operates through Global Industrial, Global Institutional, and Global Energy segments. The Global Industrial segment provides water treatment and process applications, and cleaning and sanitizing solutions primarily to large industrial customers within the manufacturing, food and beverage processing, chemical, mining and primary metals, power generation, pulp and paper, and commercial laundry industries.
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