King Luther Capital Management Corp Sells 9,940 Shares of Ecolab Inc. $ECL

King Luther Capital Management Corp reduced its position in shares of Ecolab Inc. (NYSE:ECL) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 866,065 shares of the basic materials company’s stock after selling 9,940 shares during the period. Ecolab comprises 1.0% of King Luther Capital Management Corp’s portfolio, making the stock its 22nd largest position. King Luther Capital Management Corp’s holdings in Ecolab were worth $237,804,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ECL. Findlay Park Partners LLP acquired a new stake in Ecolab during the 2nd quarter valued at approximately $115,674,000. Cornerstone Advisors LLC acquired a new position in shares of Ecolab in the 2nd quarter valued at approximately $16,698,000. Saudi Central Bank raised its position in shares of Ecolab by 89.1% in the 2nd quarter. Saudi Central Bank now owns 17,793 shares of the basic materials company’s stock valued at $4,957,000 after purchasing an additional 8,384 shares in the last quarter. Nykredit A S purchased a new position in shares of Ecolab during the 2nd quarter valued at approximately $31,932,000. Finally, Moore Capital Management LP purchased a new position in shares of Ecolab during the 2nd quarter valued at approximately $7,298,000. 74.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ecolab news, CEO Christophe Beck sold 17,862 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $280.14, for a total value of $5,003,860.68. Following the sale, the chief executive officer directly owned 72,932 shares of the company’s stock, valued at $20,431,170.48. This trade represents a 19.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ECL. Berenberg Bank raised their price target on shares of Ecolab from $299.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. increased their price objective on shares of Ecolab from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Weiss Ratings upgraded shares of Ecolab from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. UBS Group raised their price objective on shares of Ecolab from $344.00 to $357.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Finally, Oppenheimer raised shares of Ecolab from a “market perform” rating to an “outperform” rating and set a $320.00 target price for the company in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $328.58.

Ecolab Stock Performance

Shares of NYSE ECL opened at $307.51 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 1.14. The firm’s 50-day moving average price is $285.40 and its two-hundred day moving average price is $277.31. Ecolab Inc. has a 52-week low of $243.15 and a 52-week high of $318.93. The stock has a market capitalization of $86.25 billion, a P/E ratio of 41.84, a P/E/G ratio of 2.98 and a beta of 0.85.

Ecolab (NYSE:ECL) last posted its earnings results on Tuesday, October 27th. The basic materials company reported $2.18 EPS for the quarter, meeting the consensus estimate of $2.18. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. Ecolab had a return on equity of 22.57% and a net margin of 11.99%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.07 earnings per share. As a group, sell-side analysts forecast that Ecolab Inc. will post 8.16 earnings per share for the current year.

Ecolab Company Profile

Ecolab Inc. provides water, hygiene, cleaning and infection-prevention products and services to businesses and institutions. Its solutions help customers manage water use, maintain sanitary environments and support operational efficiency. The company serves a range of industries, including food and beverage, foodservice, hospitality, healthcare, life sciences and manufacturing. Its offerings include cleaning and sanitizing products, water-treatment programs, pest-elimination services, and related monitoring and consulting support.