Skandinaviska Enskilda Banken AB publ lifted its holdings in Ecolab Inc. (NYSE:ECL) by 1.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,120 shares of the basic materials company’s stock after acquiring an additional 600 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Ecolab were worth $7,346,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in ECL. TCI Wealth Advisors Inc. grew its stake in shares of Ecolab by 4.8% in the second quarter. TCI Wealth Advisors Inc. now owns 763 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 35 shares in the last quarter. Atlantic Trust LLC acquired a new position in shares of Ecolab in the second quarter valued at about $106,000. IHT Wealth Management LLC grew its stake in shares of Ecolab by 4.9% in the second quarter. IHT Wealth Management LLC now owns 811 shares of the basic materials company’s stock valued at $116,000 after acquiring an additional 38 shares in the last quarter. Atwood & Palmer Inc. grew its stake in shares of Ecolab by 2.9% in the second quarter. Atwood & Palmer Inc. now owns 892 shares of the basic materials company’s stock valued at $118,000 after acquiring an additional 25 shares in the last quarter. Finally, Sphera Funds Management LTD. acquired a new position in shares of Ecolab in the second quarter valued at about $133,000. Institutional investors and hedge funds own 76.98% of the company’s stock.
Several research firms recently commented on ECL. Royal Bank Of Canada upped their price target on shares of Ecolab from $137.00 to $143.00 and gave the company an “outperform” rating in a research note on Tuesday, November 7th. Zacks Investment Research upgraded shares of Ecolab from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. UBS upped their price target on shares of Ecolab from $147.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Barclays upped their price target on shares of Ecolab from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Finally, Jefferies Group upped their price target on shares of Ecolab from $130.00 to $140.00 and gave the company a “hold” rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $136.86.
Ecolab (NYSE:ECL) last announced its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.01. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.55 billion. Ecolab had a net margin of 9.67% and a return on equity of 19.05%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 earnings per share. equities analysts predict that Ecolab Inc. will post 4.7 EPS for the current fiscal year.
In other news, insider Thomas W. Handley sold 7,397 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $130.63, for a total value of $966,270.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Maclennan bought 450 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was bought at an average cost of $131.77 per share, with a total value of $59,296.50. Following the acquisition, the director now directly owns 1,514 shares of the company’s stock, valued at approximately $199,499.78. The disclosure for this purchase can be found here. Corporate insiders own 1.49% of the company’s stock.
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Ecolab Company Profile
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s cleaning and sanitizing programs and products, pest elimination services and equipment maintenance and repair services support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors in over 170 countries.
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