Cibc World Market Inc. Boosts Stake in Ecolab Inc. (NYSE:ECL)

Cibc World Market Inc. boosted its stake in Ecolab Inc. (NYSE:ECLGet Rating) by 8.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,713 shares of the basic materials company’s stock after buying an additional 541 shares during the quarter. Cibc World Market Inc.’s holdings in Ecolab were worth $1,032,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. CX Institutional purchased a new position in Ecolab in the 2nd quarter valued at approximately $31,000. O Dell Group LLC lifted 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 worth $33,000 after purchasing an additional 72 shares during the last quarter. Core Alternative Capital lifted its position 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 purchasing an additional 124 shares during the last quarter. Triumph Capital Management lifted its position in shares of Ecolab by 3,233.3% during the 2nd quarter. Triumph Capital Management now owns 40,000 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 38,800 shares during the last quarter. Finally, Rational Advisors LLC lifted its position in shares of Ecolab by 145.7% during the 1st quarter. Rational Advisors LLC now owns 258 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ECL shares. BMO Capital Markets cut their price target on shares of Ecolab from $169.00 to $143.00 and set a “market perform” rating on the stock in a research note on Thursday, November 3rd. Seaport Res Ptn upgraded shares of Ecolab from a “neutral” rating to a “buy” rating in a research note on Thursday, October 13th. Deutsche Bank Aktiengesellschaft downgraded shares of Ecolab from a “buy” rating to a “hold” rating and reduced their price target for the stock from $165.00 to $135.00 in a research report on Wednesday, November 2nd. StockNews.com started coverage on shares of Ecolab in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Northcoast Research upgraded shares of Ecolab from a “neutral” rating to a “buy” rating and set a $188.00 price target on the stock in a research report on Tuesday, September 6th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $180.82.

Ecolab Stock Performance

ECL stock opened at $148.11 on Monday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.87 and a current ratio of 1.35. The stock has a market cap of $42.19 billion, a P/E ratio of 37.69, a P/E/G ratio of 2.59 and a beta of 1.03. The firm has a 50 day simple moving average of $149.00 and a 200 day simple moving average of $157.48. Ecolab Inc. has a 52 week low of $131.04 and a 52 week high of $238.93.

Insider Buying and Selling

In related news, Director David Maclennan purchased 800 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The stock was acquired at an average cost of $139.66 per share, for a total transaction of $111,728.00. Following the completion of the acquisition, the director now owns 12,597 shares in the company, valued at approximately $1,759,297.02. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director David Maclennan purchased 800 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were bought at an average price of $139.66 per share, with a total value of $111,728.00. Following the completion of the transaction, the director now directly owns 12,597 shares in the company, valued at approximately $1,759,297.02. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Angela M. Busch sold 2,300 shares of Ecolab stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $170.66, for a total transaction of $392,518.00. Following the sale, the executive vice president now owns 16,716 shares in the company, valued at approximately $2,852,752.56. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by corporate insiders.

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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