Ecolab Inc. (ECL) Position Reduced by Crossmark Global Holdings Inc.
Crossmark Global Holdings Inc. cut its position in Ecolab Inc. (NYSE:ECL) by 8.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,181 shares of the basic materials company’s stock after selling 5,059 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Ecolab were worth $8,494,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Braun Bostich & Associates Inc. raised its stake in shares of Ecolab by 487.7% in the second quarter. Braun Bostich & Associates Inc. now owns 858 shares of the basic materials company’s stock valued at $120,000 after buying an additional 712 shares during the period. Squar Milner Financial Services LLC bought a new stake in shares of Ecolab in the second quarter valued at $126,000. Flagship Harbor Advisors LLC bought a new stake in shares of Ecolab in the second quarter valued at $139,000. Mckinley Capital Management LLC Delaware bought a new stake in shares of Ecolab in the third quarter valued at $147,000. Finally, LeJeune Puetz Investment Counsel LLC bought a new stake in shares of Ecolab in the second quarter valued at $154,000. Hedge funds and other institutional investors own 76.35% of the company’s stock.
In related news, Director Arthur J. Higgins sold 8,700 shares of the business’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $149.76, for a total transaction of $1,302,912.00. Following the completion of the transaction, the director now directly owns 21,363 shares in the company, valued at $3,199,322.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Douglas M. Baker, Jr. sold 40,025 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $160.20, for a total value of $6,412,005.00. Following the transaction, the chairman now owns 558,017 shares of the company’s stock, valued at $89,394,323.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,110 shares of company stock valued at $17,473,320. 1.50% of the stock is owned by company insiders.
Ecolab (NYSE:ECL) last posted its earnings results on Tuesday, October 30th. The basic materials company reported $1.53 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.53. Ecolab had a return on equity of 19.13% and a net margin of 10.99%. The business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same period in the previous year, the business earned $1.37 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts predict that Ecolab Inc. will post 5.27 earnings per share for the current fiscal year.
Several brokerages have issued reports on ECL. Credit Suisse Group boosted their target price on Ecolab from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, August 1st. Nomura boosted their price objective on Ecolab from $146.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, August 13th. Zacks Investment Research lowered Ecolab from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Boenning Scattergood reiterated a “buy” rating on shares of Ecolab in a research note on Tuesday, July 31st. Finally, Bank of America initiated coverage on Ecolab in a research note on Tuesday, October 23rd. They set a “buy” rating and a $123.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Ecolab currently has an average rating of “Buy” and a consensus target price of $154.47.
Ecolab Company Profile
Ecolab Inc provides water, hygiene, and energy technologies and services for customers worldwide. The company operates through Global Industrial, Global Institutional, and Global Energy segments. The Global Industrial segment provides water treatment and process applications, and cleaning and sanitizing solutions primarily to large industrial customers within the manufacturing, food and beverage processing, chemical, mining and primary metals, power generation, pulp and paper, and commercial laundry industries.
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