Granite Investment Partners LLC Has $15.68 Million Position in Ecolab Inc. (ECL)

Granite Investment Partners LLC increased its position in shares of Ecolab Inc. (NYSE:ECL) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,891 shares of the basic materials company’s stock after purchasing an additional 2,737 shares during the period. Ecolab makes up approximately 1.0% of Granite Investment Partners LLC’s portfolio, making the stock its 29th largest position. Granite Investment Partners LLC’s holdings in Ecolab were worth $15,676,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ECL. TCI Wealth Advisors Inc. grew its position in Ecolab by 4.8% during the second quarter. TCI Wealth Advisors Inc. now owns 763 shares of the basic materials company’s stock worth $101,000 after buying an additional 35 shares during the period. Atlantic Trust LLC acquired a new position in Ecolab during the second quarter worth about $106,000. IHT Wealth Management LLC grew its position in Ecolab by 4.9% during the second quarter. IHT Wealth Management LLC now owns 811 shares of the basic materials company’s stock worth $116,000 after buying an additional 38 shares during the period. Atwood & Palmer Inc. grew its position in Ecolab by 2.9% during the second quarter. Atwood & Palmer Inc. now owns 892 shares of the basic materials company’s stock worth $118,000 after buying an additional 25 shares during the period. Finally, Sphera Funds Management LTD. acquired a new position in Ecolab during the second quarter worth about $133,000. 75.74% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have weighed in on ECL. Royal Bank Of Canada upped their target price on shares of Ecolab from $137.00 to $143.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 7th. Zacks Investment Research upgraded shares of Ecolab from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. UBS AG upped their target price on shares of Ecolab from $147.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Barclays PLC upped their target price on shares of Ecolab from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Finally, Jefferies Group LLC upped their target price on shares of Ecolab from $130.00 to $140.00 and gave the stock a “hold” rating in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. Ecolab currently has a consensus rating of “Hold” and an average price target of $136.86.

Ecolab Inc. (NYSE ECL) traded up $1.08 during mid-day trading on Monday, hitting $132.53. 448,035 shares of the stock traded hands, compared to its average volume of 932,232. The firm has a market capitalization of $37,980.00, a price-to-earnings ratio of 28.89, a PEG ratio of 2.19 and a beta of 1.04. Ecolab Inc. has a twelve month low of $114.09 and a twelve month high of $134.89. 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 earnings results on Tuesday, October 31st. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, topping the Zacks’ 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 last year, the business earned $1.28 earnings per share. Ecolab’s revenue was up 5.2% compared to the same quarter last year. sell-side analysts expect that Ecolab Inc. will post 4.7 EPS for the current year.

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In related news, insider Thomas W. Handley sold 7,397 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $130.63, for a total transaction of $966,270.11. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Maclennan bought 450 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were purchased at an average price of $131.77 per share, for a total transaction of $59,296.50. Following the transaction, the director now owns 1,514 shares of the company’s stock, valued at approximately $199,499.78. The disclosure for this purchase can be found here. 1.49% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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