Ecolab Inc. $ECL Position Increased by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its Ecolab stake by 8.3% in the third quarter, adding 206,562 shares to hold about 2.71 million shares, valued at roughly $744 million.
• Analyst sentiment is broadly positive: the stock carries a “Moderate Buy” consensus rating and a $328.58 average price target. Several analysts recently raised their targets, including UBS to $357 and BMO Capital Markets to $360.
• Ecolab met quarterly earnings expectations at $2.18 per share, while revenue rose 12.7% year over year to $4.69 billion, slightly below analyst estimates.

Pictet Asset Management Holding SA lifted its position in Ecolab Inc. (NYSE:ECL - Free Report) by 8.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,708,147 shares of the basic materials company's stock after buying an additional 206,562 shares during the period. Ecolab makes up about 0.7% of Pictet Asset Management Holding SA's portfolio, making the stock its 25th largest position. Pictet Asset Management Holding SA owned approximately 0.97% of Ecolab worth $743,726,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Findlay Park Partners LLP purchased a new stake in Ecolab during the 2nd quarter worth approximately $115,674,000. Cornerstone Advisors LLC purchased a new position in shares of Ecolab in the second quarter worth $16,698,000. Saudi Central Bank lifted its stake in shares of Ecolab by 89.1% during the second quarter. Saudi Central Bank now owns 17,793 shares of the basic materials company's stock worth $4,957,000 after buying an additional 8,384 shares during the period. Nykredit A S acquired a new stake in shares of Ecolab during the second quarter worth $31,932,000. Finally, Moore Capital Management LP purchased a new stake in shares of Ecolab during the second quarter valued at $7,298,000. Institutional investors own 74.91% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ECL shares. UBS Group upped their target price on Ecolab from $344.00 to $357.00 and gave the company a "buy" rating in a research report on Wednesday, October 28th. Berenberg Bank upped their target price on Ecolab from $299.00 to $305.00 and gave the company a "buy" rating in a research report on Wednesday, August 19th. DA Davidson increased their price target on shares of Ecolab from $287.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, July 31st. BMO Capital Markets raised their price target on shares of Ecolab from $345.00 to $360.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Finally, Citigroup lifted their price objective on shares of Ecolab from $330.00 to $345.00 and gave the company a "buy" rating in a research note on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $328.58.

Insider Activity

In related news, CEO Christophe Beck sold 17,862 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $280.14, for a total transaction of $5,003,860.68. Following the sale, the chief executive officer directly owned 72,932 shares of the company's stock, valued at approximately $20,431,170.48. This represents a 19.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Ecolab Stock Performance

Shares of ECL stock opened at $300.82 on Friday. The stock has a market cap of $84.37 billion, a PE ratio of 40.93, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85. The business has a 50-day simple moving average of $284.00 and a 200-day simple moving average of $276.93. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 1.14. 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 posted its earnings results on Tuesday, October 27th. The basic materials company reported $2.18 EPS for the quarter, hitting the consensus estimate of $2.18. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. Ecolab had a return on equity of 22.57% and a net margin of 11.99%. Ecolab's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $2.07 earnings per share. On average, equities analysts expect that Ecolab Inc. will post 8.16 EPS for the current year.

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.

Founded in 1923 as Economics Laboratory, Ecolab has grown into a global company serving customers in many countries.

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