Intermede Investment Partners Ltd boosted its holdings in shares of Ecolab Inc. (NYSE:ECL) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 245,744 shares of the basic materials company’s stock after buying an additional 3,550 shares during the period. Ecolab makes up about 2.9% of Intermede Investment Partners Ltd’s holdings, making the stock its 22nd largest holding. Intermede Investment Partners Ltd owned 0.08% of Ecolab worth $31,605,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Ecolab by 1.9% during the second quarter. Vanguard Group Inc. now owns 20,842,027 shares of the basic materials company’s stock worth $2,766,780,000 after purchasing an additional 387,804 shares during the last quarter. BlackRock Inc. lifted its stake in Ecolab by 2.0% during the second quarter. BlackRock Inc. now owns 15,325,707 shares of the basic materials company’s stock worth $2,034,488,000 after purchasing an additional 293,303 shares during the last quarter. State Street Corp increased its holdings in shares of Ecolab by 0.3% in 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 buying an additional 31,277 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Ecolab by 6.8% in the first quarter. Clearbridge Investments LLC now owns 5,012,431 shares of the basic materials company’s stock worth $628,258,000 after buying an additional 320,253 shares during the period. Finally, C WorldWide Group Holding A S increased its holdings in shares of Ecolab by 8.3% in the second quarter. C WorldWide Group Holding A S now owns 3,704,233 shares of the basic materials company’s stock worth $491,737,000 after buying an additional 285,258 shares during the period. 75.29% of the stock is owned by hedge funds and other institutional investors.
In other Ecolab news, insider Thomas W. Handley sold 7,397 shares of the business’s stock in a transaction 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director David Maclennan bought 450 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were bought at an average price of $131.77 per share, with a total value of $59,296.50. Following the completion of the purchase, the director now owns 1,514 shares in the company, valued at approximately $199,499.78. The disclosure for this purchase can be found here. Corporate insiders own 1.49% of the company’s stock.
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ECL has been the topic of several analyst reports. UBS AG lifted their price objective on Ecolab from $147.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Royal Bank of Canada lifted their price objective on Ecolab from $137.00 to $143.00 and gave the stock an “outperform” rating in a report on Tuesday. Instinet reiterated a “neutral” rating and issued a $117.00 price objective (down previously from $120.00) on shares of Ecolab in a report on Tuesday, September 12th. Nomura reiterated a “hold” rating and issued a $117.00 price objective (down previously from $120.00) on shares of Ecolab in a report on Tuesday, September 12th. Finally, Stifel Nicolaus restated a “hold” rating and set a $140.00 price target on shares of Ecolab in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, ten have assigned 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 price target of $136.86.
Shares of Ecolab Inc. (NYSE ECL) traded up $0.05 on Friday, hitting $130.30. The stock had a trading volume of 1,298,400 shares, compared to its average volume of 924,325. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 1.23. Ecolab Inc. has a 12-month low of $113.50 and a 12-month high of $134.89. The company has a market cap of $37,631.09, a PE ratio of 28.63, a P/E/G ratio of 2.17 and a beta of 1.04.
Ecolab (NYSE:ECL) last issued its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 19.05% and a net margin of 9.67%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.28 EPS. sell-side analysts forecast that Ecolab Inc. will post 4.7 EPS for the current fiscal year.
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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