Ecolab Inc. $ECL Stock Acquired by Cullinan Associates Inc.

Cullinan Associates Inc. boosted its stake in shares of Ecolab Inc. (NYSE:ECL) by 9.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,742 shares of the basic materials company’s stock after acquiring an additional 2,763 shares during the quarter. Cullinan Associates Inc.’s holdings in Ecolab were worth $8,716,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ECL. BlackRock Inc. bought a new stake in shares of Ecolab during the second quarter valued at approximately $6,422,340,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Ecolab by 1.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,617,425 shares of the basic materials company’s stock valued at $1,007,851,000 after purchasing an additional 51,712 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Ecolab by 8.3% in the third quarter. Pictet Asset Management Holding SA now owns 2,708,147 shares of the basic materials company’s stock valued at $743,726,000 after purchasing an additional 206,562 shares in the last quarter. Amundi raised its position in Ecolab by 3.8% in the 1st quarter. Amundi now owns 2,412,057 shares of the basic materials company’s stock worth $641,609,000 after purchasing an additional 88,096 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Ecolab by 58.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,243,825 shares of the basic materials company’s stock worth $596,902,000 after purchasing an additional 830,726 shares during the last quarter. 74.91% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Ecolab news, CEO Christophe Beck sold 17,862 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $280.14, for a total transaction of $5,003,860.68. Following the completion of the sale, the chief executive officer owned 72,932 shares in the company, valued at approximately $20,431,170.48. The trade was a 19.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Ecolab Stock Down 1.6%

Shares of NYSE:ECL opened at $300.82 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.11 and a quick ratio of 0.84. The stock has a market cap of $84.37 billion, a price-to-earnings ratio of 40.93, a P/E/G ratio of 2.93 and a beta of 0.85. The company has a 50 day moving average of $284.00 and a 200-day moving average of $276.93. Ecolab Inc. has a one year low of $243.15 and a one year high of $318.93.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. DA Davidson increased their price objective on Ecolab from $287.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Zacks Research upgraded Ecolab from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. BMO Capital Markets boosted their target price on Ecolab from $345.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. UBS Group upped their price target on Ecolab from $344.00 to $357.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. Finally, JPMorgan Chase & Co. raised their price target on Ecolab from $305.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. 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 data from MarketBeat.com, Ecolab presently has an average rating of “Moderate Buy” and an average price target of $328.58.

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.

Founded in 1923 as Economics Laboratory, Ecolab has grown into a global company serving customers in many countries.