Illinois Municipal Retirement Fund Increases Stake in Ecolab Inc. (NYSE:ECL)

Illinois Municipal Retirement Fund grew its holdings in Ecolab Inc. (NYSE:ECLGet Rating) by 65.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,675 shares of the basic materials company’s stock after purchasing an additional 3,047 shares during the period. Illinois Municipal Retirement Fund’s holdings in Ecolab were worth $1,180,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. O Dell Group LLC raised its position in shares of Ecolab by 62.1% during the 1st quarter. O Dell Group LLC now owns 188 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 72 shares during the period. CX Institutional purchased a new stake in Ecolab in the 2nd quarter worth about $31,000. Core Alternative Capital lifted its stake in shares of Ecolab by 119.2% during the 2nd quarter. Core Alternative Capital now owns 228 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 124 shares during the last quarter. Rational Advisors LLC boosted its stake in shares of Ecolab by 145.7% during the first quarter. Rational Advisors LLC now owns 258 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 153 shares during the period. Finally, Covestor Ltd boosted its position in Ecolab by 56.0% in the 1st quarter. Covestor Ltd now owns 298 shares of the basic materials company’s stock valued at $53,000 after buying an additional 107 shares during the period. Institutional investors own 87.71% of the company’s stock.

Ecolab Stock Performance

ECL opened at $134.75 on Monday. The stock’s 50 day simple moving average is $152.56 and its 200 day simple moving average is $159.18. The stock has a market cap of $38.40 billion, a P/E ratio of 34.29, a P/E/G ratio of 2.28 and a beta of 1.03. Ecolab Inc. has a 1-year low of $131.04 and a 1-year high of $238.93. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.35 and a quick ratio of 0.84.

Wall Street Analysts Forecast Growth

ECL has been the topic of several research reports. Wells Fargo & Company assumed coverage on shares of Ecolab in a report on Tuesday, July 12th. They set an “overweight” rating and a $187.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut Ecolab from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $165.00 to $135.00 in a research note on Wednesday, November 2nd. Royal Bank of Canada cut their price target on Ecolab from $225.00 to $190.00 in a research report on Thursday, July 14th. Northcoast Research upgraded Ecolab from a “neutral” rating to a “buy” rating and set a $188.00 price target for the company in a research report on Tuesday, September 6th. Finally, Citigroup cut their price objective on shares of Ecolab from $168.00 to $159.00 in a report on Tuesday, October 4th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $184.41.

Insider Buying and Selling

In other Ecolab news, major shareholder William H. Gates III bought 149,190 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was purchased at an average cost of $171.47 per share, for a total transaction of $25,581,609.30. Following the acquisition, the insider now owns 30,834,744 shares of the company’s stock, valued at approximately $5,287,233,553.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder William H. Gates III purchased 149,190 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was bought at an average cost of $171.47 per share, with a total value of $25,581,609.30. Following the completion of the acquisition, the insider now directly owns 30,834,744 shares in the company, valued at approximately $5,287,233,553.68. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder William H. Gates III acquired 66,427 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The shares were bought at an average cost of $174.76 per share, for a total transaction of $11,608,782.52. Following the purchase, the insider now owns 31,080,989 shares of the company’s stock, valued at $5,431,713,637.64. The disclosure for this purchase can be found here. Insiders have acquired 274,284 shares of company stock worth $47,244,385 in the last three months. Corporate insiders own 1.04% of the company’s stock.

About Ecolab

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Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through Global Industrial, Global Institutional & Specialty, and Global Healthcare & Life Sciences segments. 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.

Further Reading

Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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