Ecolab Inc. $ECL Stock: Commonwealth Equity Services LLC Grows Stake

Key Points

• Commonwealth Equity Services increased its Ecolab stake 7.2% in the third quarter, to 72,476 shares valued at about $19.9 million; institutional investors and hedge funds own 74.91% of the stock.
• Ecolab reported quarterly earnings of $2.18 per share, matching analyst estimates, while revenue of $4.69 billion fell slightly short of forecasts but rose 12.7% year over year.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $328.58. CEO Christophe Beck sold 17,862 shares for about $5.0 million.

Commonwealth Equity Services LLC grew its stake in shares of Ecolab Inc. (NYSE:ECL - Free Report) by 7.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,476 shares of the basic materials company's stock after buying an additional 4,899 shares during the quarter. Commonwealth Equity Services LLC's holdings in Ecolab were worth $19,900,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Pathway Financial Advisers LLC bought a new position in Ecolab during the 3rd quarter valued at $131,000. Boston Trust Walden Corp raised its stake in shares of Ecolab by 15.8% in the 3rd quarter. Boston Trust Walden Corp now owns 17,852 shares of the basic materials company's stock worth $4,902,000 after buying an additional 2,437 shares in the last quarter. Northeast Investment Management raised its stake in shares of Ecolab by 2.5% in the 3rd quarter. Northeast Investment Management now owns 6,471 shares of the basic materials company's stock worth $1,777,000 after buying an additional 156 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Ecolab by 32.2% in the third quarter. Chicago Partners Investment Group LLC now owns 4,068 shares of the basic materials company's stock valued at $1,174,000 after buying an additional 992 shares during the period. Finally, Ascent Group LLC lifted its holdings in shares of Ecolab by 12.2% in the third quarter. Ascent Group LLC now owns 11,620 shares of the basic materials company's stock valued at $3,191,000 after buying an additional 1,267 shares during the period. 74.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ecolab

In other news, CEO Christophe Beck sold 17,862 shares of Ecolab 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 transaction, the chief executive officer owned 72,932 shares of the company's stock, valued at $20,431,170.48. This trade represents a 19.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Ecolab Stock Up 1.8%

ECL stock opened at $306.02 on Tuesday. Ecolab Inc. has a 12-month low of $243.15 and a 12-month high of $318.93. The company has a 50 day moving average of $284.38 and a two-hundred day moving average of $277.06. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 1.14. The company has a market cap of $85.83 billion, a price-to-earnings ratio of 39.13, a PEG ratio of 3.07 and a beta of 0.85.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. UBS Group upped their price target on shares of Ecolab from $344.00 to $357.00 and gave the company a "buy" rating in a report on Wednesday, October 28th. Citigroup lifted their price objective on shares of Ecolab from $330.00 to $345.00 and gave the stock a "buy" rating in a research note on Wednesday, October 28th. Mizuho lifted their price objective on shares of Ecolab from $325.00 to $327.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. Zacks Research upgraded shares of Ecolab from a "strong sell" rating to a "hold" rating in a report on Monday, September 7th. Finally, BMO Capital Markets increased their target price on shares of Ecolab from $345.00 to $360.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $328.58.

Ecolab 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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