Ecolab Inc. $ECL Stock Position Boosted by Waycross Partners LLC

Key Points

• Waycross Partners increased its Ecolab position by 7.3% in the third quarter, ending the period with 110,801 shares valued at about $30.4 million. Hedge funds and other institutions own 74.91% of the stock.
• Ecolab reported quarterly EPS of $2.18, in line with analyst estimates, while revenue rose 12.7% year over year to $4.69 billion, slightly below estimates.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $328.58; shares recently traded at $300.82.

Waycross Partners LLC grew its position in shares of Ecolab Inc. (NYSE:ECL - Free Report) by 7.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,801 shares of the basic materials company's stock after purchasing an additional 7,540 shares during the quarter. Ecolab makes up about 2.4% of Waycross Partners LLC's investment portfolio, making the stock its 20th largest position. Waycross Partners LLC's holdings in Ecolab were worth $30,424,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Findlay Park Partners LLP bought a new stake in Ecolab in the second quarter worth $115,674,000. Cornerstone Advisors LLC purchased a new position in shares of Ecolab in the second quarter worth about $16,698,000. Saudi Central Bank increased its holdings in shares of Ecolab by 89.1% in 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 purchased a new position in shares of Ecolab in the second quarter worth about $31,932,000. Finally, Moore Capital Management LP bought a new stake in shares of Ecolab in the 2nd quarter valued at about $7,298,000. 74.91% of the stock is owned by hedge funds and other institutional investors.

Ecolab Trading Down 1.6%

Shares of NYSE ECL traded down $5.01 during trading hours on Friday, hitting $300.82. The company's stock had a trading volume of 2,219,181 shares, compared to its average volume of 1,476,912. Ecolab Inc. has a 12 month low of $243.15 and a 12 month high of $318.93. The stock has a market cap of $84.37 billion, a price-to-earnings ratio of 40.93, a P/E/G ratio of 3.00 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. The business has a 50-day simple moving average of $284.00 and a 200-day simple moving average of $276.93.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings upgraded Ecolab from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 31st. Zacks Research upgraded Ecolab from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. UBS Group increased their price objective on Ecolab from $344.00 to $357.00 and gave the company a "buy" rating in a research note on Wednesday, October 28th. Mizuho lifted their target price 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. Finally, BMO Capital Markets upped their price target on shares of Ecolab from $345.00 to $360.00 and gave the company an "outperform" rating in a report 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 assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $328.58.

Insider Activity at Ecolab

In related 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 transaction of $5,003,860.68. Following the completion of the transaction, the chief executive officer owned 72,932 shares in the company, valued at $20,431,170.48. This represents a 19.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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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