Ecolab Inc. (ECL) Shares Bought by Meiji Yasuda Asset Management Co Ltd.
Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Ecolab Inc. (NYSE:ECL) by 6.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,859 shares of the basic materials company’s stock after acquiring an additional 2,200 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Ecolab were worth $4,483,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. TCI Wealth Advisors Inc. grew its position 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 purchasing an additional 35 shares in the last quarter. Atlantic Trust LLC purchased a new stake in shares of Ecolab in the second quarter valued at approximately $106,000. IHT Wealth Management LLC grew its position 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 purchasing an additional 38 shares in the last quarter. Atwood & Palmer Inc. grew its position 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 purchasing an additional 25 shares in the last quarter. Finally, Sphera Funds Management LTD. purchased a new stake in shares of Ecolab in the second quarter valued at approximately $133,000. 75.74% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on ECL. BidaskClub upgraded Ecolab from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 23rd. Jefferies Group LLC restated a “hold” rating and issued a $130.00 price target on shares of Ecolab in a research report on Wednesday, August 16th. Canaccord Genuity upped their price target on Ecolab from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 28th. UBS AG restated a “buy” rating and issued a $147.00 price target (up from $144.00) on shares of Ecolab in a research report on Tuesday, August 8th. Finally, Barclays PLC upped their price target on Ecolab from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $136.86.
Ecolab Inc. (ECL) traded up $0.68 on Tuesday, hitting $132.13. The stock had a trading volume of 1,222,600 shares, compared to its average volume of 933,528. Ecolab Inc. has a 1-year low of $114.36 and a 1-year high of $134.89. The stock has a market capitalization of $37,980.00, a price-to-earnings ratio of 28.89, a P/E/G ratio of 2.19 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 released its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.36 by $0.01. Ecolab had a return on equity of 19.05% and a net margin of 9.67%. The business had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the business posted $1.28 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. research analysts expect that Ecolab Inc. will post 4.7 earnings per share for the current year.
In other 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 transaction of $966,270.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Maclennan purchased 450 shares of the stock in a transaction dated Monday, November 6th. The shares were purchased at an average price of $131.77 per share, with a total value of $59,296.50. Following the completion of the transaction, the director now owns 1,514 shares of the company’s stock, 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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