QCI Asset Management Inc. NY increased its stake in shares of Ecolab Inc. (NYSE:ECL) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,853 shares of the basic materials company’s stock after purchasing an additional 962 shares during the quarter. Ecolab accounts for 1.8% of QCI Asset Management Inc. NY’s holdings, making the stock its 19th largest holding. QCI Asset Management Inc. NY’s holdings in Ecolab were worth $18,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Braun Bostich & Associates Inc. grew its stake in Ecolab by 487.7% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 858 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 712 shares in the last quarter. Squar Milner Financial Services LLC acquired a new position in Ecolab during the 2nd quarter worth $126,000. Flagship Harbor Advisors LLC acquired a new position in Ecolab during the 2nd quarter worth $139,000. LeJeune Puetz Investment Counsel LLC acquired a new position in Ecolab during the 2nd quarter worth $154,000. Finally, Capital Management Corp VA acquired a new position in Ecolab during the 3rd quarter worth $201,000. 76.10% of the stock is owned by hedge funds and other institutional investors.
In other Ecolab news, Director Arthur J. Higgins sold 8,700 shares of Ecolab stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $149.76, for a total transaction of $1,302,912.00. Following the completion of the sale, the director now directly owns 21,363 shares of the company’s stock, valued at approximately $3,199,322.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Douglas M. Baker, Jr. sold 40,025 shares of Ecolab stock in a transaction dated 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 sale, the chairman now directly owns 558,017 shares of the company’s stock, valued at $89,394,323.40. The disclosure for this sale can be found here. Insiders have sold a total of 112,110 shares of company stock valued at $17,473,320 over the last ninety days. 1.50% of the stock is owned by company insiders.
Shares of NYSE ECL opened at $159.33 on Friday. The stock has a market cap 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. The company has a quick ratio of 0.90, 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 $160.61.
Ecolab (NYSE:ECL) last announced its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $1.53 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.53. The company 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%. Ecolab’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 EPS. On average, equities research analysts expect that Ecolab Inc. will post 5.27 EPS for the current fiscal year.
Several research analysts recently commented on ECL shares. UBS Group boosted their target price on Ecolab from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. JPMorgan Chase & Co. raised Ecolab from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 1st. Nomura lowered their target price on Ecolab from $153.00 to $150.00 and set a “neutral” rating for the company in a research note on Tuesday, October 16th. ValuEngine raised Ecolab from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Finally, Bank of America started coverage on Ecolab in a research note on Tuesday, October 23rd. They set a “buy” rating and a $123.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus 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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