CI Global Investments Inc. Acquires 2,794 Shares of Ecolab Inc. (ECL)
CI Global Investments Inc. increased its holdings in shares of Ecolab Inc. (NYSE:ECL) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 242,903 shares of the basic materials company’s stock after purchasing an additional 2,794 shares during the period. Ecolab accounts for 0.6% of CI Global Investments Inc.’s investment portfolio, making the stock its 29th largest holding. CI Global Investments Inc. owned 0.08% of Ecolab worth $38,082,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of ECL. Bank of New York Mellon Corp boosted its stake in Ecolab by 84.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,752,688 shares of the basic materials company’s stock worth $526,615,000 after purchasing an additional 1,723,429 shares during the period. OppenheimerFunds Inc. boosted its stake in Ecolab by 11,817.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,112,230 shares of the basic materials company’s stock worth $156,080,000 after purchasing an additional 1,102,897 shares during the period. AustralianSuper Pty Ltd acquired a new stake in Ecolab during the 2nd quarter worth $147,206,000. Morgan Stanley boosted its stake in Ecolab by 36.1% during the 2nd quarter. Morgan Stanley now owns 2,797,769 shares of the basic materials company’s stock worth $392,612,000 after purchasing an additional 742,376 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Ecolab by 17.3% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,074,082 shares of the basic materials company’s stock worth $431,386,000 after purchasing an additional 453,400 shares during the period. Hedge funds and other institutional investors own 76.35% of the company’s stock.
ECL stock opened at $155.02 on Thursday. Ecolab Inc. has a one year low of $125.74 and a one year high of $160.66. The firm has a market capitalization of $45.08 billion, a PE ratio of 30.60, a PEG ratio of 2.32 and a beta of 0.87. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.79.
A number of analysts recently weighed in on ECL shares. Citigroup cut shares of Ecolab from an “outperform” rating to a “market perform” rating in a research note on Wednesday. They noted that the move was a valuation call. Deutsche Bank increased their price target on shares of Ecolab from $150.00 to $162.00 and gave the stock a “hold” rating in a research note on Monday, November 5th. Zacks Investment Research upgraded shares of Ecolab from a “sell” rating to a “hold” rating in a research note on Wednesday. UBS Group raised their target price on shares of Ecolab from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. Finally, JPMorgan Chase & Co. upgraded shares of Ecolab from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $147.00 to $157.00 in a research note on Wednesday, October 31st. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Ecolab presently has an average rating of “Hold” and a consensus target price of $154.47.
In other news, Director Arthur J. Higgins sold 8,700 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $149.76, for a total value of $1,302,912.00. Following the completion of the transaction, the director now owns 21,363 shares in the company, valued at approximately $3,199,322.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Douglas M. Baker, Jr. sold 40,025 shares of the stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $160.20, for a total transaction of $6,412,005.00. Following the completion of the transaction, the chairman now owns 558,017 shares of the company’s stock, valued at approximately $89,394,323.40. The disclosure for this sale can be found here. Insiders sold a total of 112,110 shares of company stock valued at $17,473,320 in the last 90 days. Company insiders own 1.50% of the company’s stock.
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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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