Los Angeles Capital Management & Equity Research Inc. Buys 242,284 Shares of Ecolab Inc. (ECL)
Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Ecolab Inc. (NYSE:ECL) by 386.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 305,019 shares of the basic materials company’s stock after buying an additional 242,284 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.11% of Ecolab worth $39,228,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America boosted its position in shares of Ecolab by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,012 shares of the basic materials company’s stock valued at $127,000 after buying an additional 7 shares during the last quarter. Rench Wealth Management Inc. lifted its holdings in Ecolab by 0.3% in the second quarter. Rench Wealth Management Inc. now owns 3,004 shares of the basic materials company’s stock valued at $399,000 after acquiring an additional 9 shares during the period. Green Square Capital LLC lifted its holdings in Ecolab by 0.3% in the second quarter. Green Square Capital LLC now owns 2,836 shares of the basic materials company’s stock valued at $377,000 after acquiring an additional 9 shares during the period. Ironwood Investment Management LLC lifted its holdings in Ecolab by 0.7% in the second quarter. Ironwood Investment Management LLC now owns 2,708 shares of the basic materials company’s stock valued at $359,000 after acquiring an additional 19 shares during the period. Finally, Atwood & Palmer Inc. lifted its holdings in Ecolab by 2.9% in the second quarter. Atwood & Palmer Inc. now owns 892 shares of the basic materials company’s stock valued at $118,000 after acquiring an additional 25 shares during the period. 75.70% of the stock is currently owned by institutional investors.
Ecolab Inc. (NYSE ECL) traded up $1.34 during trading on Tuesday, reaching $131.64. The company’s stock had a trading volume of 1,072,600 shares, compared to its average volume of 925,002. 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 stock has a market cap of $37,645.54, a P/E ratio of 28.64, a PEG ratio of 2.17 and a beta of 1.04. Ecolab Inc. has a twelve month low of $113.50 and a twelve month high of $134.89.
Ecolab (NYSE:ECL) last posted its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.01. Ecolab had a return on equity of 19.05% and a net margin of 9.67%. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the previous year, the business earned $1.28 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. analysts expect that Ecolab Inc. will post 4.7 EPS for the current fiscal year.
A number of research firms have weighed in on ECL. BidaskClub raised Ecolab from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 23rd. Jefferies Group LLC reissued a “hold” rating and issued a $130.00 target price on shares of Ecolab in a report on Wednesday, August 16th. Canaccord Genuity raised their price objective on Ecolab from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. UBS AG reaffirmed a “buy” rating and issued a $147.00 price objective (up previously from $144.00) on shares of Ecolab in a research note on Tuesday, August 8th. Finally, Barclays PLC raised their price objective on Ecolab from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. Ecolab has a consensus rating of “Hold” and an average price target of $136.86.
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In other news, Director David Maclennan bought 450 shares of Ecolab stock in a transaction 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 completion of the acquisition, the director now directly owns 1,514 shares of the company’s stock, valued at $199,499.78. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas W. Handley sold 7,397 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $130.63, for a total value of $966,270.11. The disclosure for this sale can be found here. 1.49% of the stock is owned by corporate insiders.
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.
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