Commerce Bank cut its holdings in Ecolab Inc. (NYSE:ECL) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,136 shares of the basic materials company’s stock after selling 615 shares during the period. Commerce Bank’s holdings in Ecolab were worth $6,577,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TCI Wealth Advisors Inc. raised its position in Ecolab by 4.8% in the second quarter. TCI Wealth Advisors Inc. now owns 763 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 35 shares during the period. Atlantic Trust LLC bought a new position in Ecolab in the second quarter worth approximately $106,000. IHT Wealth Management LLC raised its position in Ecolab by 4.9% in the second quarter. IHT Wealth Management LLC now owns 811 shares of the basic materials company’s stock worth $116,000 after acquiring an additional 38 shares during the period. Harfst & Associates Inc. bought a new stake in shares of Ecolab during the 1st quarter valued at $117,000. Finally, Atwood & Palmer Inc. raised its position in shares of Ecolab by 2.9% during the 2nd quarter. Atwood & Palmer Inc. now owns 892 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 75.70% of the company’s stock.
Several analysts have recently commented on the stock. Deutsche Bank AG raised their price objective on shares of Ecolab from $132.00 to $134.00 and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Robert W. Baird restated a “hold” rating and set a $140.00 price objective on shares of Ecolab in a research report on Thursday, October 12th. Jefferies Group LLC raised their price objective on shares of Ecolab from $130.00 to $140.00 and gave the company a “hold” rating in a research report on Wednesday, November 1st. Zacks Investment Research downgraded shares of Ecolab from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Credit Suisse Group set a $128.00 price target on shares of Ecolab and gave the company a “hold” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $136.86.
Ecolab Inc. (NYSE ECL) traded up $1.76 during mid-day trading on Friday, hitting $131.99. 1,423,000 shares of the company were exchanged, compared to its average volume of 930,012. Ecolab Inc. has a 52-week low of $114.09 and a 52-week high of $134.89. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 1.23. The stock has a market cap of $38,070.00, a PE ratio of 28.62, a PEG ratio of 2.17 and a beta of 1.04.
Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.01. Ecolab had a net margin of 9.67% and a return on equity of 19.05%. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the previous year, the company earned $1.28 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. equities research analysts predict that Ecolab Inc. will post 4.7 earnings per share for the current fiscal year.
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In related news, insider Thomas W. Handley sold 7,397 shares of Ecolab stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $130.63, for a total transaction of $966,270.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Maclennan acquired 450 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were bought at an average price of $131.77 per share, with a total value of $59,296.50. Following the acquisition, the director now directly owns 1,514 shares in the company, valued at $199,499.78. The disclosure for this purchase can be found here. Company insiders own 1.49% of the company’s stock.
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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