Assenagon Asset Management S.A. Purchases Shares of 31,125 Ecolab Inc. (ECL)

Assenagon Asset Management S.A. purchased a new stake in Ecolab Inc. (NYSE:ECL) during the 3rd quarter, Holdings Channel reports. The fund purchased 31,125 shares of the basic materials company’s stock, valued at approximately $4,880,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of Ecolab by 84.9% during the second quarter. Bank of New York Mellon Corp now owns 3,752,688 shares of the basic materials company’s stock valued at $526,615,000 after acquiring an additional 1,723,429 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in Ecolab by 11,817.2% during the second quarter. OppenheimerFunds Inc. now owns 1,112,230 shares of the basic materials company’s stock worth $156,080,000 after buying an additional 1,102,897 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in Ecolab during the second quarter worth $147,206,000. Morgan Stanley grew its holdings in Ecolab by 36.1% during the second quarter. Morgan Stanley now owns 2,797,769 shares of the basic materials company’s stock worth $392,612,000 after buying an additional 742,376 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Ecolab by 17.3% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,074,082 shares of the basic materials company’s stock worth $431,386,000 after buying an additional 453,400 shares in the last quarter. 76.15% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Michael A. Hickey sold 32,468 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $155.80, for a total transaction of $5,058,514.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Victoria Reich sold 6,700 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $148.40, for a total value of $994,280.00. Following the transaction, the director now directly owns 20,987 shares in the company, valued at approximately $3,114,470.80. The disclosure for this sale can be found here. Insiders sold a total of 104,285 shares of company stock valued at $15,825,260 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Shares of NYSE:ECL opened at $154.59 on Friday. The firm has a market capitalization of $44.66 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 2.29 and a beta of 0.87. The company has a quick ratio of 0.84, a current ratio of 1.34 and a debt-to-equity ratio of 0.79. Ecolab Inc. has a 1 year low of $125.74 and a 1 year high of $159.92.

Ecolab (NYSE:ECL) last announced its quarterly earnings data on Tuesday, October 30th. The basic materials company reported $1.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.53. The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.74 billion. Ecolab had a return on equity of 19.13% and a net margin of 10.99%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 EPS. On average, equities analysts forecast that Ecolab Inc. will post 5.27 EPS for the current fiscal year.

Several equities research analysts recently issued reports on ECL shares. UBS Group upped their price target on Ecolab from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, October 2nd. JPMorgan Chase & Co. upgraded Ecolab from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $147.00 to $157.00 in a report on Wednesday. BMO Capital Markets upped their price target on Ecolab from $151.00 to $159.00 and gave the stock a “hold” rating in a report on Thursday. Zacks Investment Research downgraded Ecolab from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Finally, Nomura reiterated a “hold” rating and set a $146.00 price target on shares of Ecolab in a report on Wednesday, August 1st. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $152.38.

Ecolab Company Profile

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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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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