MV Capital Management Inc. trimmed its position in shares of Ecolab Inc. (NYSE:ECL) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,834 shares of the basic materials company’s stock after selling 502 shares during the period. Ecolab makes up approximately 1.7% of MV Capital Management Inc.’s holdings, making the stock its 14th biggest holding. MV Capital Management Inc.’s holdings in Ecolab were worth $6,716,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. QCI Asset Management Inc. NY raised its holdings in Ecolab by 0.8% during the 3rd quarter. QCI Asset Management Inc. NY now owns 117,853 shares of the basic materials company’s stock valued at $18,477,000 after buying an additional 962 shares during the period. Cadence Bank NA raised its holdings in Ecolab by 31.3% during the 3rd quarter. Cadence Bank NA now owns 3,532 shares of the basic materials company’s stock valued at $553,000 after buying an additional 842 shares during the period. Connable Office Inc. raised its holdings in Ecolab by 11.0% during the 3rd quarter. Connable Office Inc. now owns 13,434 shares of the basic materials company’s stock valued at $2,106,000 after buying an additional 1,329 shares during the period. Dupont Capital Management Corp raised its holdings in Ecolab by 30.9% during the 3rd quarter. Dupont Capital Management Corp now owns 5,840 shares of the basic materials company’s stock valued at $916,000 after buying an additional 1,378 shares during the period. Finally, Cannell Peter B & Co. Inc. raised its holdings in Ecolab by 7.7% during the 3rd quarter. Cannell Peter B & Co. Inc. now owns 13,712 shares of the basic materials company’s stock valued at $2,150,000 after buying an additional 982 shares during the period. 76.10% of the stock is currently owned by institutional investors and hedge funds.
ECL stock opened at $159.33 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.90 and a current ratio of 1.34. Ecolab Inc. has a twelve month low of $125.74 and a twelve month high of $160.61. The firm has a market capitalization of $46.33 billion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 2.38 and a beta of 0.87.
Ecolab (NYSE:ECL) last released its earnings results on Tuesday, October 30th. The basic materials company reported $1.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.53. Ecolab had a return on equity of 19.13% and a net margin of 10.99%. The business had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter last year, the firm posted $1.37 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts predict that Ecolab Inc. will post 5.27 earnings per share for the current fiscal year.
In other Ecolab news, EVP Darrell R. Brown sold 11,800 shares of the stock in a transaction on Friday, August 31st. The stock was sold at an average price of $150.25, for a total value of $1,772,950.00. Following the sale, the executive vice president now owns 18,641 shares in the company, valued at $2,800,810.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Douglas M. Baker, Jr. sold 40,025 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $160.20, for a total value of $6,412,005.00. Following the completion of the sale, the chairman now owns 558,017 shares in the company, valued at approximately $89,394,323.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,110 shares of company stock worth $17,473,320. Insiders own 1.50% of the company’s stock.
Several research firms recently weighed in on ECL. Credit Suisse Group increased their price target on Ecolab from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, August 1st. Nomura increased their price target on Ecolab from $146.00 to $153.00 and gave the company a “neutral” rating in a report on Monday, August 13th. Zacks Investment Research lowered Ecolab from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. Boenning Scattergood restated a “buy” rating on shares of Ecolab in a report on Tuesday, July 31st. Finally, Bank of America began coverage on Ecolab in a report on Tuesday, October 23rd. They set a “buy” rating and a $123.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Ecolab presently has an average rating of “Buy” and an average target price of $154.47.
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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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