Ecolab Inc. (ECL) Shares Sold by JPMorgan Chase & Co.
JPMorgan Chase & Co. lowered its position in Ecolab Inc. (NYSE:ECL) by 12.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,199,541 shares of the company’s stock after selling 302,621 shares during the period. JPMorgan Chase & Co. owned about 0.75% of Ecolab worth $268,357,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of ECL. Point72 Asia Hong Kong Ltd acquired a new position in shares of Ecolab during the second quarter worth approximately $166,000. Coconut Grove Bank raised its position in shares of Ecolab by 6.5% in the third quarter. Coconut Grove Bank now owns 1,473 shares of the company’s stock worth $179,000 after buying an additional 90 shares during the period. Bartlett & Co. LLC raised its position in shares of Ecolab by 2.0% in the second quarter. Bartlett & Co. LLC now owns 1,568 shares of the company’s stock worth $186,000 after buying an additional 30 shares during the period. Washington Trust Bank raised its position in shares of Ecolab by 29.2% in the second quarter. Washington Trust Bank now owns 1,592 shares of the company’s stock worth $189,000 after buying an additional 360 shares during the period. Finally, Nations Financial Group Inc. IA ADV acquired a new position in shares of Ecolab during the second quarter worth approximately $200,000. Institutional investors own 74.26% of the company’s stock.
Ecolab Inc. (NYSE:ECL) opened at 116.41 on Wednesday. The firm’s 50-day moving average price is $115.24 and its 200 day moving average price is $118.72. The firm has a market capitalization of $33.94 billion, a price-to-earnings ratio of 32.36 and a beta of 0.89. Ecolab Inc. has a 1-year low of $98.62 and a 1-year high of $124.60.
Ecolab (NYSE:ECL) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $1.28 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.28. The firm earned $3.39 billion during the quarter, compared to the consensus estimate of $3.49 billion. Ecolab had a return on equity of 19.08% and a net margin of 8.11%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company earned $1.28 earnings per share. On average, analysts predict that Ecolab Inc. will post $4.41 EPS for the current year.
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A number of brokerages recently commented on ECL. Oppenheimer Holdings Inc. upped their target price on Ecolab from $120.00 to $129.00 and gave the company an “outperform” rating in a research note on Wednesday, August 3rd. Jefferies Group restated a “hold” rating and issued a $125.00 target price on shares of Ecolab in a research note on Wednesday, November 9th. Barclays PLC upped their target price on Ecolab from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, August 3rd. Canaccord Genuity upped their target price on Ecolab from $126.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Finally, Credit Suisse Group AG restated a “hold” rating and issued a $120.00 target price on shares of Ecolab in a research note on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Ecolab has an average rating of “Buy” and an average price target of $126.86.
In other Ecolab news, EVP Christophe Beck sold 5,789 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $122.70, for a total value of $710,310.30. Following the completion of the transaction, the executive vice president now directly owns 32,475 shares in the company, valued at $3,984,682.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is owned by company insiders.
Ecolab Company Profile
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s segments include Global Industrial, Global Institutional, Global Energy, Other and Corporate. The Global Industrial segment consists of the Water, Food and Beverage, Paper and Textile Care operating units. The Global Institutional segment consists of the Institutional, Specialty and Healthcare operating units.
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