Russell Investments Group Ltd. lowered its position in Ecolab Inc. (NYSE:ECL) by 7.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 769,190 shares of the basic materials company’s stock after selling 57,592 shares during the period. Russell Investments Group Ltd. owned about 0.27% of Ecolab worth $98,913,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of ECL. BlackRock Inc. boosted its holdings in Ecolab by 2,154.8% in the 1st quarter. BlackRock Inc. now owns 15,032,404 shares of the basic materials company’s stock worth $1,884,161,000 after buying an additional 14,365,723 shares during the period. Renaissance Technologies LLC bought a new position in Ecolab in the 1st quarter worth $59,389,000. Vanguard Group Inc. boosted its holdings in shares of Ecolab by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 20,842,027 shares of the basic materials company’s stock valued at $2,766,780,000 after purchasing an additional 387,804 shares during the last quarter. Eaton Vance Management boosted its holdings in shares of Ecolab by 34.3% during the 2nd quarter. Eaton Vance Management now owns 1,481,329 shares of the basic materials company’s stock valued at $196,646,000 after purchasing an additional 378,019 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Ecolab by 66.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 918,902 shares of the basic materials company’s stock valued at $121,984,000 after purchasing an additional 368,376 shares during the last quarter. 75.70% of the stock is owned by institutional investors.
In related news, insider Thomas W. Handley sold 7,397 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $130.63, for a total value of $966,270.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Maclennan acquired 450 shares of Ecolab stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average cost of $131.77 per share, for a total transaction of $59,296.50. Following the completion of the transaction, the director now directly owns 1,514 shares in the company, valued at $199,499.78. The disclosure for this purchase can be found here. Corporate insiders own 1.49% of the company’s stock.
ECL has been the subject of several research reports. Canaccord Genuity reissued a “buy” rating and set a $145.00 price objective on shares of Ecolab in a report on Monday, September 11th. UBS AG reissued a “buy” rating and set a $147.00 price objective (up previously from $144.00) on shares of Ecolab in a report on Wednesday, August 2nd. Morgan Stanley initiated coverage on shares of Ecolab in a report on Tuesday, August 15th. They set an “equal weight” rating and a $140.00 price objective for the company. Deutsche Bank AG increased their price objective on shares of Ecolab from $132.00 to $134.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded shares of Ecolab from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $136.86.
Shares of Ecolab Inc. (NYSE ECL) traded down $1.17 during midday trading on Thursday, hitting $130.23. 1,104,500 shares of the stock traded hands, compared to its average volume of 927,781. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.23 and a quick ratio of 0.83. The stock has a market cap of $37,963.34, a PE ratio of 28.88, a price-to-earnings-growth ratio of 2.19 and a beta of 1.04. Ecolab Inc. has a 52-week low of $114.05 and a 52-week high of $134.89.
Ecolab (NYSE:ECL) last announced its earnings results on Tuesday, October 31st. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.01. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Ecolab had a net margin of 9.67% and a return on equity of 19.05%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 EPS. equities analysts forecast that Ecolab Inc. will post 4.7 EPS for the current fiscal year.
Ecolab Company 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.
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