CI Global Investments Inc. Sells 1,398 Shares of Ecolab Inc. (ECL)

CI Global Investments Inc. lessened its holdings in shares of Ecolab Inc. (NYSE:ECL) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 55,615 shares of the basic materials company’s stock after selling 1,398 shares during the period. CI Global Investments Inc.’s holdings in Ecolab were worth $7,153,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Courier Capital LLC acquired a new position in shares of Ecolab during the second quarter worth $282,000. Alps Advisors Inc. lifted its holdings in shares of Ecolab by 21.3% during the second quarter. Alps Advisors Inc. now owns 2,134 shares of the basic materials company’s stock worth $283,000 after purchasing an additional 375 shares during the period. Stephens Inc. AR lifted its holdings in shares of Ecolab by 4.7% during the second quarter. Stephens Inc. AR now owns 18,332 shares of the basic materials company’s stock worth $2,434,000 after purchasing an additional 822 shares during the period. King Luther Capital Management Corp lifted its holdings in shares of Ecolab by 0.5% during the second quarter. King Luther Capital Management Corp now owns 817,279 shares of the basic materials company’s stock worth $108,494,000 after purchasing an additional 3,725 shares during the period. Finally, State Street Corp lifted its holdings in shares of Ecolab by 0.3% during the first quarter. State Street Corp now owns 11,935,943 shares of the basic materials company’s stock worth $1,496,059,000 after purchasing an additional 31,277 shares during the period. Institutional investors own 75.70% of the company’s stock.

In other Ecolab news, Director David Maclennan bought 450 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was bought at an average cost of $131.77 per share, with a total value of $59,296.50. Following the completion of the transaction, the director now directly owns 1,514 shares in the company, valued at approximately $199,499.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas W. Handley sold 7,397 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $130.63, for a total transaction of $966,270.11. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by corporate insiders.

Shares of Ecolab Inc. (NYSE:ECL) traded up $1.34 during midday trading on Tuesday, hitting $131.64. 1,072,600 shares of the stock traded hands, compared to its average volume of 925,002. Ecolab Inc. has a 52-week low of $113.50 and a 52-week high of $134.89. The firm has a market capitalization of $37,645.54, a price-to-earnings ratio of 28.64, a P/E/G ratio of 2.17 and a beta of 1.04. The company has a quick ratio of 0.83, a current ratio of 1.23 and a debt-to-equity ratio of 0.89.

Ecolab (NYSE:ECL) last announced its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.01. Ecolab had a net margin of 9.67% and a return on equity of 19.05%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the prior year, the business earned $1.28 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. sell-side analysts forecast that Ecolab Inc. will post 4.7 earnings per share for the current fiscal year.

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A number of brokerages have recently commented on ECL. Canaccord Genuity lifted their price target on shares of Ecolab from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 28th. BidaskClub upgraded shares of Ecolab from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 23rd. Jefferies Group LLC restated a “hold” rating and issued a $130.00 target price on shares of Ecolab in a report on Wednesday, August 16th. UBS AG restated a “buy” rating and issued a $147.00 target price (up previously from $144.00) on shares of Ecolab in a report on Tuesday, August 8th. Finally, Barclays PLC boosted their target price on shares of Ecolab from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. Ecolab presently has a consensus rating of “Hold” and a consensus price target of $136.86.

Ecolab Profile

Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s cleaning and sanitizing programs and products, pest elimination services and equipment maintenance and repair services support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors in over 170 countries.

Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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