NorthRock Partners LLC Cuts Position in Ecolab Inc. (NYSE:ECL)

NorthRock Partners LLC trimmed its holdings in shares of Ecolab Inc. (NYSE:ECL) by 13.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,562 shares of the basic materials company’s stock after selling 251 shares during the quarter. NorthRock Partners LLC’s holdings in Ecolab were worth $399,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ECL. Norden Group LLC bought a new stake in shares of Ecolab during the 1st quarter worth $214,000. GSA Capital Partners LLP bought a new position in shares of Ecolab during the 1st quarter valued at approximately $490,000. Mediolanum International Funds Ltd bought a new position in shares of Ecolab during the 1st quarter valued at approximately $1,281,000. Signaturefd LLC increased its stake in shares of Ecolab by 5.6% during the 1st quarter. Signaturefd LLC now owns 4,541 shares of the basic materials company’s stock worth $1,049,000 after purchasing an additional 241 shares during the last quarter. Finally, Team Hewins LLC raised its holdings in shares of Ecolab by 5.3% in the 1st quarter. Team Hewins LLC now owns 1,137 shares of the basic materials company’s stock worth $263,000 after purchasing an additional 57 shares during the period. 74.91% of the stock is currently owned by institutional investors.

Ecolab Price Performance

NYSE:ECL opened at $246.85 on Wednesday. Ecolab Inc. has a 52-week low of $172.79 and a 52-week high of $262.61. The stock has a fifty day moving average of $252.55 and a 200 day moving average of $242.48. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.30. The firm has a market capitalization of $70.24 billion, a price-to-earnings ratio of 34.62, a P/E/G ratio of 2.48 and a beta of 1.13.

Ecolab (NYSE:ECL) last issued its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.01. Ecolab had a return on equity of 22.12% and a net margin of 13.05%. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the company posted $1.54 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts expect that Ecolab Inc. will post 6.66 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder William H. Gates III sold 409,136 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $246.92, for a total value of $101,023,861.12. Following the transaction, the insider now owns 30,776,418 shares of the company’s stock, valued at $7,599,313,132.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Victoria Reich sold 393 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $250.00, for a total value of $98,250.00. Following the completion of the sale, the director now directly owns 24,041 shares in the company, valued at approximately $6,010,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder William H. Gates III sold 409,136 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $246.92, for a total transaction of $101,023,861.12. Following the transaction, the insider now directly owns 30,776,418 shares in the company, valued at approximately $7,599,313,132.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 478,355 shares of company stock worth $117,922,965. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ECL has been the subject of a number of recent research reports. Citigroup raised Ecolab from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $267.00 to $265.00 in a research report on Wednesday, July 31st. Bank of America raised Ecolab from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $251.00 to $272.00 in a report on Wednesday, July 31st. Robert W. Baird upped their price objective on shares of Ecolab from $271.00 to $279.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company reiterated a “market perform” rating on shares of Ecolab in a research note on Friday, October 18th. Finally, Piper Sandler upped their price target on shares of Ecolab from $270.00 to $305.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $277.20.

About Ecolab

Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through three segments: Global Industrial; Global Institutional & Specialty; and Global Healthcare & Life Sciences. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries.