Marble Harbor Investment Counsel LLC reduced its stake in shares of Ecolab Inc. (NYSE:ECL) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 41,225 shares of the basic materials company’s stock after selling 570 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Ecolab were worth $6,463,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Braun Bostich & Associates Inc. grew its position in Ecolab by 487.7% during the second quarter. Braun Bostich & Associates Inc. now owns 858 shares of the basic materials company’s stock worth $120,000 after buying an additional 712 shares during the period. Squar Milner Financial Services LLC acquired a new position in Ecolab during the second quarter worth about $126,000. Flagship Harbor Advisors LLC acquired a new position in Ecolab during the second quarter worth about $139,000. LeJeune Puetz Investment Counsel LLC acquired a new position in Ecolab during the second quarter worth about $154,000. Finally, Harfst & Associates Inc. acquired a new position in Ecolab during the second quarter worth about $201,000. Institutional investors own 76.10% of the company’s stock.
ECL stock opened at $159.48 on Friday. The company has a market capitalization of $45.32 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 2.33 and a beta of 0.87. Ecolab Inc. has a 12 month low of $125.74 and a 12 month high of $160.61. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.79.
Ecolab (NYSE:ECL) last announced its earnings results on Tuesday, October 30th. The basic materials company reported $1.53 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.53. Ecolab had a net margin of 10.99% and a return on equity of 19.13%. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter last year, the business earned $1.37 earnings per share. Ecolab’s revenue was up 5.1% compared to the same quarter last year. Equities analysts anticipate that Ecolab Inc. will post 5.27 EPS for the current fiscal year.
Several research analysts have weighed in on ECL shares. Zacks Investment Research upgraded shares of Ecolab from a “hold” rating to a “buy” rating and set a $176.00 target price on the stock in a research report on Wednesday, October 10th. UBS Group upped their target price on shares of Ecolab from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. ValuEngine upgraded shares of Ecolab from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Boenning Scattergood reiterated a “buy” rating on shares of Ecolab in a research report on Tuesday, July 31st. Finally, Canaccord Genuity set a $160.00 price target on shares of Ecolab and gave the company a “buy” rating in a research report on Tuesday, July 24th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $154.47.
In related news, EVP Michael A. Hickey sold 32,468 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $155.80, for a total transaction of $5,058,514.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Arthur J. Higgins sold 8,700 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $149.76, for a total transaction of $1,302,912.00. Following the sale, the director now owns 21,363 shares in the company, valued at approximately $3,199,322.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,085 shares of company stock worth $11,061,315. 1.50% of the stock is owned by company insiders.
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Ecolab Company Profile
Ecolab Inc provides water, hygiene, and energy technologies and services for customers worldwide. The company operates through Global Industrial, Global Institutional, and Global Energy segments. The Global Industrial segment provides water treatment and process applications, and cleaning and sanitizing solutions primarily to large industrial customers within the manufacturing, food and beverage processing, chemical, mining and primary metals, power generation, pulp and paper, and commercial laundry industries.
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