Dynamic Technology Lab Private Ltd Buys New Holdings in Ecolab Inc. (ECL)
Dynamic Technology Lab Private Ltd bought a new position in shares of Ecolab Inc. (NYSE:ECL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,640 shares of the basic materials company’s stock, valued at approximately $339,000.
A number of other large investors have also modified their holdings of the stock. Macquarie Group Ltd. boosted its holdings in Ecolab by 260.1% during the third quarter. Macquarie Group Ltd. now owns 4,984 shares of the basic materials company’s stock worth $641,000 after buying an additional 3,600 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Ecolab by 44.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 247,782 shares of the basic materials company’s stock valued at $31,882,000 after acquiring an additional 76,237 shares in the last quarter. Commonwealth Equity Services Inc lifted its position in shares of Ecolab by 4.3% in the 3rd quarter. Commonwealth Equity Services Inc now owns 42,603 shares of the basic materials company’s stock valued at $5,479,000 after acquiring an additional 1,767 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Ecolab in the 3rd quarter valued at approximately $4,870,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Ecolab by 11.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 27,882 shares of the basic materials company’s stock valued at $3,586,000 after acquiring an additional 2,792 shares in the last quarter. Hedge funds and other institutional investors own 76.98% of the company’s stock.
In related news, Director David Maclennan bought 450 shares of the business’s stock in a transaction on Monday, November 6th. The stock was bought at an average price of $131.77 per share, for a total transaction of $59,296.50. Following the transaction, the director now directly owns 1,514 shares in the company, valued at $199,499.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thomas W. Handley sold 7,397 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $130.63, for a total transaction of $966,270.11. The disclosure for this sale can be found here. 1.49% of the stock is owned by corporate insiders.
Ecolab (NYSE:ECL) last released its earnings results on Tuesday, October 31st. The basic materials company reported $1.37 earnings per share (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 company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. equities analysts expect that Ecolab Inc. will post 4.7 earnings per share for the current year.
Several equities research analysts recently commented on ECL shares. Royal Bank Of Canada upped their price target on shares of Ecolab from $134.00 to $137.00 and gave the company an “outperform” rating in a research report on Tuesday, September 12th. Credit Suisse Group restated a “hold” rating on shares of Ecolab in a research report on Wednesday, September 6th. Robert W. Baird restated a “hold” rating and issued a $140.00 price target on shares of Ecolab in a research report on Thursday, October 12th. Morgan Stanley started coverage on shares of Ecolab in a research report on Tuesday, August 15th. They issued an “equal weight” rating and a $140.00 price target for the company. Finally, Instinet restated a “neutral” rating and issued a $117.00 price target (down previously from $120.00) on shares of Ecolab in a research report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price 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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