Penserra Capital Management LLC Acquires New Stake in Ecolab Inc. (ECL)

Penserra Capital Management LLC acquired a new position in shares of Ecolab Inc. (NYSE:ECL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,530 shares of the basic materials company’s stock, valued at approximately $1,964,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ECL. Argus Investors Counsel Inc. raised its stake in Ecolab by 18.8% during the third quarter. Argus Investors Counsel Inc. now owns 2,172 shares of the basic materials company’s stock worth $341,000 after acquiring an additional 343 shares in the last quarter. Bailard Inc. raised its stake in Ecolab by 6.1% during the second quarter. Bailard Inc. now owns 6,033 shares of the basic materials company’s stock worth $847,000 after acquiring an additional 347 shares in the last quarter. Gyroscope Capital Management Group LLC raised its stake in Ecolab by 19.5% during the third quarter. Gyroscope Capital Management Group LLC now owns 2,191 shares of the basic materials company’s stock worth $345,000 after acquiring an additional 358 shares in the last quarter. Motley Fool Asset Management LLC raised its stake in Ecolab by 13.6% during the second quarter. Motley Fool Asset Management LLC now owns 3,047 shares of the basic materials company’s stock worth $428,000 after acquiring an additional 364 shares in the last quarter. Finally, North Star Asset Management Inc. raised its stake in Ecolab by 0.5% during the third quarter. North Star Asset Management Inc. now owns 72,310 shares of the basic materials company’s stock worth $11,337,000 after acquiring an additional 364 shares in the last quarter. 76.10% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Darrell R. Brown sold 11,800 shares of the company’s stock in a transaction that occurred 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 directly owns 18,641 shares in the company, valued at $2,800,810.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur J. Higgins sold 8,700 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $149.76, for a total value of $1,302,912.00. Following the completion of the sale, the director now owns 21,363 shares in the company, valued at $3,199,322.88. The disclosure for this sale can be found here. Insiders sold 112,110 shares of company stock valued at $17,473,320 in the last ninety days. 1.50% of the stock is currently owned by insiders.

Several research analysts have commented on the company. Nomura reissued a “hold” rating and set a $146.00 target price on shares of Ecolab in a research note on Wednesday, August 1st. BMO Capital Markets boosted their target price on Ecolab from $151.00 to $159.00 and gave the stock a “hold” rating in a research note on Thursday, November 1st. Deutsche Bank boosted their target price on Ecolab from $150.00 to $162.00 and gave the stock a “hold” rating in a research note on Monday, November 5th. Boenning Scattergood reissued a “buy” rating on shares of Ecolab in a research note on Tuesday, July 31st. Finally, Zacks Investment Research raised Ecolab from a “hold” rating to a “buy” rating and set a $176.00 target price for the company in a research note on Wednesday, October 10th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $154.47.

Ecolab stock opened at $159.33 on Friday. Ecolab Inc. has a 1 year low of $125.74 and a 1 year high of $160.61. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 0.90. The company has a market capitalization of $46.33 billion, a PE ratio of 33.97, a PEG ratio of 2.38 and a beta of 0.87.

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

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Ecolab 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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