Stevens Capital Management LP Takes Position in Ecolab Inc. (ECL)
Stevens Capital Management LP purchased a new position in Ecolab Inc. (NYSE:ECL) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 43,323 shares of the basic materials company’s stock, valued at approximately $5,572,000.
Other large investors have also modified their holdings of the company. Courier Capital LLC acquired a new position in Ecolab in the 2nd quarter worth approximately $282,000. Alps Advisors Inc. grew its stake in shares of Ecolab by 21.3% during the 2nd quarter. Alps Advisors Inc. now owns 2,134 shares of the basic materials company’s stock worth $283,000 after purchasing an additional 375 shares during the period. Stephens Inc. AR grew its stake in shares of Ecolab by 4.7% during the 2nd quarter. Stephens Inc. AR now owns 18,332 shares of the basic materials company’s stock worth $2,434,000 after purchasing an additional 822 shares during the period. King Luther Capital Management Corp grew its stake in shares of Ecolab by 0.5% during the 2nd quarter. King Luther Capital Management Corp now owns 817,279 shares of the basic materials company’s stock worth $108,494,000 after purchasing an additional 3,725 shares during the period. Finally, State Street Corp grew its stake in shares of Ecolab by 0.3% during the 1st quarter. State Street Corp now owns 11,935,943 shares of the basic materials company’s stock worth $1,496,059,000 after purchasing an additional 31,277 shares during the period. Institutional investors own 75.29% of the company’s stock.
Ecolab Inc. (NYSE ECL) opened at $130.95 on Wednesday. Ecolab Inc. has a 52-week low of $111.07 and a 52-week high of $134.89. The stock has a market capitalization of $38,110.69, a P/E ratio of 28.99, a PEG ratio of 2.20 and a beta of 1.04. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 1.23.
Ecolab (NYSE:ECL) last announced its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.01. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.55 billion. Ecolab had a return on equity of 19.05% and a net margin of 9.67%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 EPS. analysts expect that Ecolab Inc. will post 4.71 earnings per share for the current fiscal year.
In other Ecolab news, insider Thomas W. Handley sold 7,397 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $130.63, for a total value of $966,270.11. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.49% of the company’s stock.
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A number of brokerages have recently commented on ECL. BidaskClub raised shares of Ecolab from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 23rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $130.00 price objective on shares of Ecolab in a research note on Wednesday, August 16th. Canaccord Genuity raised their price objective on shares of Ecolab from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Royal Bank Of Canada raised their price objective on shares of Ecolab from $137.00 to $143.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, UBS AG reaffirmed a “buy” rating and set a $147.00 price objective (up previously from $144.00) on shares of Ecolab in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, ten have given 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 an average price target of $136.86.
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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