Ecolab Inc. $ECL Holdings Reduced by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its stake in shares of Ecolab Inc. (NYSE:ECL) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 866,065 shares of the basic materials company’s stock after selling 9,940 shares during the period. Ecolab accounts for approximately 1.0% of King Luther Capital Management Corp’s portfolio, making the stock its 22nd biggest holding. King Luther Capital Management Corp owned 0.31% of Ecolab worth $237,804,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ECL. BlackRock Inc. acquired a new position in Ecolab in the 2nd quarter valued at $6,422,340,000. Corient Private Wealth LP purchased a new position in shares of Ecolab during the 2nd quarter worth $244,381,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Ecolab by 1.5% during 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 worth $1,007,851,000 after purchasing an additional 51,712 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Ecolab by 8.3% during the third quarter. Pictet Asset Management Holding SA now owns 2,708,147 shares of the basic materials company’s stock worth $743,726,000 after purchasing an additional 206,562 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Ecolab by 3.8% during the first 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. 74.91% of the stock is currently owned by hedge funds and other institutional investors.

Ecolab Price Performance

Ecolab stock opened at $307.51 on Thursday. Ecolab Inc. has a 52-week low of $243.15 and a 52-week high of $318.93. The firm has a fifty day moving average of $285.40 and a 200-day moving average of $277.31. The firm has a market capitalization of $86.25 billion, a P/E ratio of 41.84, a PEG ratio of 2.98 and a beta of 0.85. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 1.14.

Ecolab (NYSE:ECL) last posted its earnings results 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 quarter in the previous year, the business posted $2.07 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, analysts predict that Ecolab Inc. will post 8.16 EPS for the current year.

Insider Activity at Ecolab

In other Ecolab news, CEO Christophe Beck sold 17,862 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $280.14, for a total transaction of $5,003,860.68. Following the transaction, the chief executive officer owned 72,932 shares in the company, valued at $20,431,170.48. The trade was a 19.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ECL. JPMorgan Chase & Co. upped their target price on Ecolab from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. BMO Capital Markets raised their price target on Ecolab from $345.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. DA Davidson raised their price target on Ecolab from $287.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Berenberg Bank lifted their price target on Ecolab from $299.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. Finally, Wells Fargo & Company upped their price objective on shares of Ecolab from $295.00 to $315.00 and gave the company an “equal weight” rating in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Ecolab currently has an average rating of “Moderate Buy” and a consensus target price of $328.58.

About Ecolab

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.