CI Investments Inc. Invests $13.77 Million in Ecolab Inc. (ECL) Stock
CI Investments Inc. acquired a new stake in Ecolab Inc. (NYSE:ECL) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 107,054 shares of the basic materials company’s stock, valued at approximately $13,768,000.
A number of other hedge funds and other institutional investors have also modified their holdings of ECL. BlackRock Inc. raised its holdings in Ecolab by 2,154.8% in the 1st quarter. BlackRock Inc. now owns 15,032,404 shares of the basic materials company’s stock valued at $1,884,161,000 after buying an additional 14,365,723 shares during the last quarter. Vanguard Group Inc. raised its holdings in Ecolab by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 20,454,223 shares of the basic materials company’s stock valued at $2,563,731,000 after buying an additional 1,044,370 shares during the last quarter. Renaissance Technologies LLC bought a new position in Ecolab in the 1st quarter valued at approximately $59,389,000. Eaton Vance Management raised its holdings in Ecolab by 34.3% in the 2nd quarter. Eaton Vance Management now owns 1,481,329 shares of the basic materials company’s stock valued at $196,646,000 after buying an additional 378,019 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in Ecolab by 66.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 918,902 shares of the basic materials company’s stock valued at $121,984,000 after buying an additional 368,376 shares during the last quarter. Institutional investors and hedge funds own 75.70% of the company’s stock.
Ecolab Inc. (NYSE ECL) traded up $1.34 during midday trading on Tuesday, reaching $131.64. 1,072,600 shares of the company traded hands, compared to its average volume of 925,002. Ecolab Inc. has a twelve month low of $113.50 and a twelve month high of $134.89. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 0.89. The firm has a market cap of $37,645.54, a P/E ratio of 28.64, a P/E/G ratio of 2.17 and a beta of 1.04.
Ecolab (NYSE:ECL) last posted its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.01. Ecolab had a net margin of 9.67% and a return on equity of 19.05%. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the firm posted $1.28 EPS. Ecolab’s revenue was up 5.2% compared to the same quarter last year. sell-side analysts anticipate that Ecolab Inc. will post 4.7 EPS for the current fiscal year.
Several research analysts have issued reports on ECL shares. Credit Suisse Group restated a “hold” rating on shares of Ecolab in a report on Wednesday, September 6th. Zacks Investment Research lowered shares of Ecolab from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Royal Bank Of Canada raised their price target on shares of Ecolab from $134.00 to $137.00 and gave the stock an “outperform” rating in a report on Tuesday, September 12th. Canaccord Genuity restated a “buy” rating and set a $145.00 price target on shares of Ecolab in a report on Monday, September 11th. Finally, Nomura restated a “hold” rating and set a $117.00 price target (down previously from $120.00) on shares of Ecolab in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $136.86.
In other Ecolab news, Director David Maclennan purchased 450 shares of Ecolab stock in a transaction that occurred on Monday, November 6th. The stock was acquired at an average price of $131.77 per share, with a total value of $59,296.50. Following the transaction, the director now owns 1,514 shares in the company, valued at approximately $199,499.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas W. Handley sold 7,397 shares of Ecolab stock in a transaction on Thursday, September 14th. The shares were 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. Company insiders own 1.49% of the company’s stock.
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.
Receive News & Ratings for Ecolab Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecolab Inc. and related companies with MarketBeat.com's FREE daily email newsletter.