Edgestream Partners L.P. lifted its holdings in Ecolab Inc. (NYSE:ECL – Free Report) by 28.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,500 shares of the basic materials company’s stock after purchasing an additional 4,556 shares during the quarter. Edgestream Partners L.P.’s holdings in Ecolab were worth $5,524,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of ECL. Brighton Jones LLC raised its position in shares of Ecolab by 164.7% during the 4th quarter. Brighton Jones LLC now owns 3,700 shares of the basic materials company’s stock worth $867,000 after buying an additional 2,302 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Ecolab by 3.0% during the first quarter. Commonwealth Equity Services LLC now owns 123,280 shares of the basic materials company’s stock valued at $31,254,000 after acquiring an additional 3,580 shares during the period. Probity Advisors Inc. bought a new stake in Ecolab during the first quarter worth approximately $204,000. Thoroughbred Financial Services LLC lifted its position in Ecolab by 53.1% in the first quarter. Thoroughbred Financial Services LLC now owns 2,059 shares of the basic materials company’s stock worth $522,000 after purchasing an additional 714 shares during the period. Finally, New Age Alpha Advisors LLC boosted its stake in Ecolab by 103.6% during the 1st quarter. New Age Alpha Advisors LLC now owns 76,876 shares of the basic materials company’s stock valued at $19,490,000 after purchasing an additional 39,110 shares in the last quarter. 74.91% of the stock is currently owned by institutional investors.
Ecolab Stock Performance
Shares of ECL stock opened at $270.92 on Wednesday. The company has a market capitalization of $76.74 billion, a price-to-earnings ratio of 38.93, a P/E/G ratio of 2.57 and a beta of 0.98. Ecolab Inc. has a 1-year low of $221.62 and a 1-year high of $286.04. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.83. The stock’s fifty day simple moving average is $268.46 and its 200-day simple moving average is $269.10.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on ECL shares. Wells Fargo & Company upped their price objective on Ecolab from $260.00 to $270.00 and gave the company an “equal weight” rating in a report on Monday, October 27th. Raymond James Financial initiated coverage on shares of Ecolab in a report on Tuesday, August 26th. They issued a “market perform” rating for the company. Erste Group Bank began coverage on shares of Ecolab in a research note on Tuesday, October 14th. They issued a “buy” rating on the stock. BMO Capital Markets set a $307.00 target price on shares of Ecolab and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, Evercore ISI upgraded shares of Ecolab from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $265.00 to $300.00 in a report on Monday, November 3rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Ecolab currently has an average rating of “Moderate Buy” and an average target price of $295.14.
Insider Transactions at Ecolab
In other Ecolab news, EVP Boo Alexander A. De sold 1,422 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $268.25, for a total value of $381,451.50. Following the transaction, the executive vice president directly owned 5,726 shares of the company’s stock, valued at $1,535,999.50. This represents a 19.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christophe Beck sold 21,714 shares of Ecolab stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $261.41, for a total value of $5,676,256.74. Following the sale, the chief executive officer owned 72,644 shares of the company’s stock, valued at approximately $18,989,868.04. This represents a 23.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.50% of the company’s stock.
Ecolab Profile
Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through three segments: Global Industrial; Global Institutional & Specialty; and Global Healthcare & Life Sciences. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries.
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