Ecolab Inc. $ECL Shares Purchased by Cullinan Associates Inc.

Cullinan Associates Inc. grew its stake in shares of Ecolab Inc. (NYSE:ECL) by 9.5% during the third quarter, Holdings Channel.com reports. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Costello Asset Management INC bought a new stake in shares of Ecolab in the 1st quarter valued at about $27,000. J.Safra Asset Management Corp acquired a new stake in shares of Ecolab in the 2nd quarter valued at approximately $28,000. Wellington Altus USA Inc. raised its position in shares of Ecolab by 64.2% in the 2nd quarter. Wellington Altus USA Inc. now owns 110 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 43 shares during the period. TOWER TRUST & INVESTMENT Co bought a new position in Ecolab during the 3rd quarter worth approximately $30,000. Finally, Polaris Financial Partners bought a new position in Ecolab during the 3rd quarter worth approximately $31,000. 74.91% of the stock is currently owned by institutional investors and hedge funds.

Ecolab Stock Down 1.6%

Shares of Ecolab stock opened at $300.82 on Friday. Ecolab Inc. has a 1 year low of $243.15 and a 1 year high of $318.93. The business has a 50-day moving average of $284.00 and a two-hundred day moving average of $276.93. The company has a market capitalization of $84.37 billion, a P/E ratio of 40.93, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.11 and a quick ratio of 0.84.

Ecolab (NYSE:ECL) last released 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 return on equity of 22.57% and a net margin of 11.99%. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the previous year, the business posted $2.07 EPS. Ecolab’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities analysts predict that Ecolab Inc. will post 8.16 EPS for the current year.

Insider Transactions at Ecolab

In other Ecolab news, CEO Christophe Beck sold 17,862 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 72,932 shares in the company, valued at approximately $20,431,170.48. This trade represents a 19.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ECL shares. Oppenheimer upgraded shares of Ecolab from a “market perform” rating to an “outperform” rating and set a $320.00 price objective for the company in a report on Friday, July 17th. Citigroup increased their target price on shares of Ecolab from $330.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. DA Davidson lifted their price target on shares of Ecolab from $287.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. UBS Group lifted their price target on shares of Ecolab from $344.00 to $357.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Finally, Weiss Ratings raised shares of Ecolab from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ecolab presently has an average rating of “Moderate Buy” and an average price target of $328.58.

Ecolab 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.