Ecolab Inc. $ECL Stock: Candriam S.C.A. Decreases Holdings

Key Points

• Candriam cut its Ecolab stake by 46.2% in the third quarter, selling 88,717 shares; it retained 103,259 shares valued at about $28.5 million.
• Ecolab reported quarterly EPS of $2.18, in line with forecasts, while revenue of $4.69 billion came in slightly below estimates but rose 12.7% year over year.
• Analysts maintain a Moderate Buy consensus, with an average price target of $328.58; 18 analysts rate the stock Buy, one Strong Buy, and three Hold.

Candriam S.C.A. trimmed its position in Ecolab Inc. (NYSE:ECL - Free Report) by 46.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,259 shares of the basic materials company's stock after selling 88,717 shares during the period. Candriam S.C.A.'s holdings in Ecolab were worth $28,456,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cullinan Associates Inc. raised its position in shares of Ecolab by 9.5% during the 3rd quarter. Cullinan Associates Inc. now owns 31,742 shares of the basic materials company's stock valued at $8,716,000 after acquiring an additional 2,763 shares in the last quarter. Ethic Inc. boosted its holdings in Ecolab by 7.2% in the third quarter. Ethic Inc. now owns 58,537 shares of the basic materials company's stock worth $16,073,000 after purchasing an additional 3,950 shares during the period. Endowment Wealth Management Inc. bought a new stake in Ecolab during the third quarter valued at $292,000. StoneX Group Inc. bought a new stake in Ecolab during the third quarter valued at $548,000. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Ecolab by 8.3% during the third quarter. Pictet Asset Management Holding SA now owns 2,708,147 shares of the basic materials company's stock worth $743,726,000 after purchasing an additional 206,562 shares during the period. 74.91% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Ecolab news, CEO Christophe Beck sold 17,862 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $280.14, for a total value of $5,003,860.68. Following the sale, the chief executive officer owned 72,932 shares in the company, valued at approximately $20,431,170.48. This trade represents a 19.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. 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. DA Davidson boosted their price objective on shares of Ecolab from $287.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Robert W. Baird set a $305.00 price objective on shares of Ecolab and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. Mizuho raised their target price on shares of Ecolab from $325.00 to $327.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. Finally, Citigroup lifted their target price on 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 given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Ecolab currently has a consensus rating of "Moderate Buy" and a consensus target price of $328.58.

Ecolab Stock Performance

ECL stock opened at $300.82 on Monday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.84 and a current ratio of 1.11. The stock has a market capitalization of $84.37 billion, a price-to-earnings ratio of 40.93, a PEG ratio of 2.93 and a beta of 0.85. Ecolab Inc. has a 1 year low of $243.15 and a 1 year high of $318.93. The stock's fifty day moving average is $284.00 and its two-hundred day moving average is $276.93.

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

Ecolab Company Profile

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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