Ecolab Inc. (ECL) Stake Lowered by Cabot Wealth Management Inc.
Cabot Wealth Management Inc. decreased its holdings in shares of Ecolab Inc. (NYSE:ECL) by 41.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,134 shares of the company’s stock after selling 21,912 shares during the quarter. Cabot Wealth Management Inc.’s holdings in Ecolab were worth $4,004,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Ecolab by 1.9% during the second quarter. Vanguard Group Inc. now owns 20,842,027 shares of the company’s stock worth $2,766,780,000 after purchasing an additional 387,804 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Ecolab by 2.0% during the second quarter. BlackRock Inc. now owns 15,325,707 shares of the company’s stock worth $2,034,488,000 after purchasing an additional 293,303 shares in the last quarter. State Street Corp grew its holdings in shares of Ecolab by 0.3% during the first quarter. State Street Corp now owns 11,935,943 shares of the company’s stock worth $1,496,059,000 after purchasing an additional 31,277 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Ecolab by 6.8% during the first quarter. Clearbridge Investments LLC now owns 5,012,431 shares of the company’s stock worth $628,258,000 after purchasing an additional 320,253 shares in the last quarter. Finally, C WorldWide Group Holding A S lifted its position in Ecolab by 1.8% in the 3rd quarter. C WorldWide Group Holding A S now owns 3,769,066 shares of the company’s stock worth $484,739,000 after buying an additional 64,833 shares during the last quarter.
A number of research firms recently weighed in on ECL. Credit Suisse Group restated a “hold” rating on shares of Ecolab in a research report on Wednesday, September 6th. Stifel Nicolaus restated a “hold” rating and issued a $130.00 target price on shares of Ecolab in a research report on Thursday, August 3rd. Robert W. Baird restated a “hold” rating and issued a $140.00 target price on shares of Ecolab in a research report on Thursday, October 12th. Zacks Investment Research downgraded Ecolab from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada boosted their target price on Ecolab from $137.00 to $143.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. Ecolab has a consensus rating of “Hold” and a consensus target price of A$136.86 ($105.27).
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Shares of Ecolab Inc. (ECL) traded up A$0.05 ($0.04) during mid-day trading on Friday, reaching A$130.30 ($100.23). The company had a trading volume of 1,300,000 shares, compared to its average volume of 952,624. Ecolab Inc. has a 12 month low of A$113.50 ($87.31) and a 12 month high of A$134.89 ($103.76).
Ecolab (NYSE:ECL) last issued its quarterly earnings results on Tuesday, October 31st. The company reported A$1.37 ($1.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of A$1.36 ($1.05) by A$0.01 ($0.01). The company had revenue of A$3.56 billion for the quarter, compared to analysts’ expectations of A$3.55 billion. Ecolab had a return on equity of 22.26% and a net margin of 11.11%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 earnings per share.
In related news, Director David Maclennan bought 450 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were purchased at an average cost of A$131.77 ($101.36) per share, with a total value of A$59,296.50 ($45,612.69). Following the completion of the purchase, the director now owns 1,514 shares in the company, valued at approximately A$199,499.78 ($153,461.37). The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas W. Handley sold 7,397 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of A$130.63 ($100.48), for a total value of A$966,270.11 ($743,284.70). The disclosure for this sale can be found here.
Ecolab Company Profile
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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