Allspring Global Investments Holdings LLC Buys 84,349 Shares of Ecolab Inc. $ECL

Key Points

• Allspring increased its Ecolab stake by 57.4% in the third quarter, buying 84,349 shares and ending the period with 231,277 shares valued at approximately $62.7 million.
• Ecolab reported quarterly earnings of $2.18 per share, matching analysts’ consensus; revenue rose 12.7% year over year to $4.69 billion, slightly below expectations.
• Analysts maintained a “Moderate Buy” consensus, with an average price target of $328.58. CEO Christophe Beck also sold 17,862 shares for about $5.0 million.

Allspring Global Investments Holdings LLC boosted its stake in shares of Ecolab Inc. (NYSE:ECL - Free Report) by 57.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 231,277 shares of the basic materials company's stock after purchasing an additional 84,349 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.08% of Ecolab worth $62,736,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Ecolab in the second quarter valued at approximately $6,422,340,000. Corient Private Wealth LP bought a new stake in Ecolab during the second quarter valued at about $244,381,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Ecolab by 1.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,617,425 shares of the basic materials company's stock valued at $1,007,851,000 after acquiring an additional 51,712 shares during the period. Pictet Asset Management Holding SA grew its position in shares of Ecolab by 8.3% in the third quarter. Pictet Asset Management Holding SA now owns 2,708,147 shares of the basic materials company's stock valued at $743,726,000 after purchasing an additional 206,562 shares during the last quarter. Finally, Amundi grew its position in shares of Ecolab by 3.8% in the first quarter. Amundi now owns 2,412,057 shares of the basic materials company's stock valued at $641,609,000 after purchasing an additional 88,096 shares during the last quarter. Institutional investors own 74.91% of the company's stock.

Insider Buying and Selling

In other Ecolab news, CEO Christophe Beck sold 17,862 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $280.14, for a total value of $5,003,860.68. Following the completion of the transaction, the chief executive officer owned 72,932 shares of the company's stock, valued at $20,431,170.48. This represents a 19.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by company insiders.

Ecolab Stock Down 0.1%

Shares of ECL opened at $306.35 on Wednesday. The company has a 50-day simple moving average of $284.85 and a 200-day simple moving average of $277.18. The firm has a market capitalization of $85.92 billion, a P/E ratio of 38.10, a P/E/G ratio of 2.98 and a beta of 0.85. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.84 and a current ratio of 1.11. Ecolab Inc. has a 52 week low of $243.15 and a 52 week high of $318.93.

Ecolab (NYSE:ECL - Get Free Report) last released its earnings results on Tuesday, October 27th. The basic materials company reported $2.18 earnings per share for the quarter, meeting the consensus estimate of $2.18. Ecolab had a net margin of 11.99% and a return on equity of 22.57%. The business had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.70 billion. During the same quarter last year, the company earned $2.07 earnings per share. The firm's revenue was up 12.7% on a year-over-year basis. On average, equities research analysts expect that Ecolab Inc. will post 8.16 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Robert W. Baird set a $305.00 price objective on Ecolab and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. DA Davidson increased their target price on Ecolab from $287.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, July 31st. JPMorgan Chase & Co. lifted their price target on Ecolab from $305.00 to $310.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 28th. Mizuho upped their price target on Ecolab from $325.00 to $327.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. Finally, Oppenheimer raised Ecolab from a "market perform" rating to an "outperform" rating and set a $320.00 price objective for the company in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $328.58.

About Ecolab

Ecolab Inc. provides water, hygiene, cleaning and infection-prevention products and services to businesses and institutions. Its solutions help customers manage water use, maintain sanitary environments and support operational efficiency. The company serves a range of industries, including food and beverage, foodservice, hospitality, healthcare, life sciences and manufacturing. Its offerings include cleaning and sanitizing products, water-treatment programs, pest-elimination services, and related monitoring and consulting support.

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