Penserra Capital Management LLC Purchases New Holdings in Ecolab Inc. (ECL)

Penserra Capital Management LLC purchased a new position in shares of Ecolab Inc. (NYSE:ECL) during the third quarter, HoldingsChannel reports. The firm purchased 12,530 shares of the basic materials company’s stock, valued at approximately $1,964,000.

Several other institutional investors have also bought and sold shares of the business. Argus Investors Counsel Inc. boosted its holdings in shares of Ecolab by 18.8% during the 3rd quarter. Argus Investors Counsel Inc. now owns 2,172 shares of the basic materials company’s stock worth $341,000 after buying an additional 343 shares in the last quarter. Bailard Inc. lifted its holdings in shares of Ecolab by 6.1% in the 2nd quarter. Bailard Inc. now owns 6,033 shares of the basic materials company’s stock worth $847,000 after purchasing an additional 347 shares in the last quarter. Gyroscope Capital Management Group LLC lifted its holdings in shares of Ecolab by 19.5% in the 3rd quarter. Gyroscope Capital Management Group LLC now owns 2,191 shares of the basic materials company’s stock worth $345,000 after purchasing an additional 358 shares in the last quarter. Motley Fool Asset Management LLC lifted its holdings in shares of Ecolab by 13.6% in the 2nd quarter. Motley Fool Asset Management LLC now owns 3,047 shares of the basic materials company’s stock worth $428,000 after purchasing an additional 364 shares in the last quarter. Finally, North Star Asset Management Inc. lifted its holdings in shares of Ecolab by 0.5% in the 3rd quarter. North Star Asset Management Inc. now owns 72,310 shares of the basic materials company’s stock worth $11,337,000 after purchasing an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 76.10% of the company’s stock.

A number of brokerages recently issued reports on ECL. Deutsche Bank increased their target price on Ecolab from $150.00 to $162.00 and gave the stock a “hold” rating in a report on Monday, November 5th. BMO Capital Markets increased their target price on Ecolab from $151.00 to $159.00 and gave the stock a “hold” rating in a report on Thursday, November 1st. JPMorgan Chase & Co. upgraded Ecolab from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $147.00 to $157.00 in a report on Wednesday, October 31st. Barclays increased their target price on Ecolab from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, October 24th. Finally, Bank of America began coverage on Ecolab in a report on Tuesday, October 23rd. They issued a “buy” rating and a $123.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $154.47.

In related news, Chairman Douglas M. Baker, Jr. sold 40,025 shares of the stock in a transaction on 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 completion of the sale, the chairman now directly owns 558,017 shares of the company’s stock, valued at approximately $89,394,323.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy P. Mulhere sold 9,800 shares of the stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $152.59, for a total value of $1,495,382.00. Following the completion of the sale, the executive vice president now directly owns 29,482 shares of the company’s stock, valued at $4,498,658.38. 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 over the last three months. 1.50% of the stock is currently owned by insiders.

NYSE ECL opened at $159.33 on Friday. The firm has a market capitalization of $46.33 billion, a P/E ratio of 33.97, a P/E/G ratio of 2.38 and a beta of 0.87. Ecolab Inc. has a 12 month low of $125.74 and a 12 month high of $160.61. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.79.

Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $1.53 EPS for the quarter, meeting analysts’ consensus estimates of $1.53. The business had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.74 billion. Ecolab had a return on equity of 19.13% and a net margin of 10.99%. Ecolab’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 EPS. Equities analysts expect that Ecolab Inc. will post 5.27 EPS for the current year.

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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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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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