Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ecolab Inc. (NYSE:ECL) by 7.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 273,437 shares of the basic materials company’s stock after buying an additional 18,967 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.09% of Ecolab worth $35,167,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Courier Capital LLC purchased a new position in Ecolab in the 2nd quarter valued at approximately $282,000. Alps Advisors Inc. grew its stake in Ecolab by 21.3% in the 2nd quarter. Alps Advisors Inc. now owns 2,134 shares of the basic materials company’s stock valued at $283,000 after buying an additional 375 shares in the last quarter. Stephens Inc. AR grew its stake in Ecolab by 4.7% in the 2nd quarter. Stephens Inc. AR now owns 18,332 shares of the basic materials company’s stock valued at $2,434,000 after buying an additional 822 shares in the last quarter. King Luther Capital Management Corp grew its stake in Ecolab by 0.5% in the 2nd quarter. King Luther Capital Management Corp now owns 817,279 shares of the basic materials company’s stock valued at $108,494,000 after buying an additional 3,725 shares in the last quarter. Finally, State Street Corp grew its stake in Ecolab by 0.3% in the 1st quarter. State Street Corp now owns 11,935,943 shares of the basic materials company’s stock valued at $1,496,059,000 after buying an additional 31,277 shares in the last quarter. Institutional investors and hedge funds own 75.74% of the company’s stock.
In related news, insider Thomas W. Handley sold 7,397 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $130.63, for a total value of $966,270.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Maclennan bought 450 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was bought at an average price of $131.77 per share, with a total value of $59,296.50. Following the completion of the transaction, the director now directly owns 1,514 shares of the company’s stock, valued at approximately $199,499.78. The disclosure for this purchase can be found here. 1.49% of the stock is currently owned by insiders.
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Shares of Ecolab Inc. (ECL) traded up $0.57 during trading hours on Tuesday, reaching $132.70. 673,238 shares of the company traded hands, compared to its average volume of 933,528. Ecolab Inc. has a one year low of $114.36 and a one year high of $134.89. The stock has a market capitalization of $37,980.00, a price-to-earnings ratio of 28.89, a PEG ratio of 2.19 and a beta of 1.04. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.23 and a quick ratio of 0.83.
Ecolab (NYSE:ECL) last announced its earnings results on Tuesday, October 31st. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.01. Ecolab had a net margin of 9.67% and a return on equity of 19.05%. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same period in the previous year, the business earned $1.28 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. equities analysts predict that Ecolab Inc. will post 4.7 earnings per share for the current fiscal year.
ECL has been the subject of a number of recent research reports. Canaccord Genuity reiterated a “buy” rating and issued a $145.00 price objective on shares of Ecolab in a research note on Monday, September 11th. UBS AG restated a “buy” rating and set a $147.00 price target (up from $144.00) on shares of Ecolab in a research report on Wednesday, August 2nd. Morgan Stanley began coverage on shares of Ecolab in a research report on Tuesday, August 15th. They set an “equal weight” rating and a $140.00 price target for the company. Deutsche Bank AG boosted their price target on shares of Ecolab from $132.00 to $134.00 and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research lowered shares of Ecolab from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $136.86.
Ecolab Company Profile
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s cleaning and sanitizing programs and products, pest elimination services and equipment maintenance and repair services support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors in over 170 countries.
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